Envestnet Portfolio Solutions Inc. Sells 796 Shares of Lithia Motors, Inc. (NYSE:LAD)

Envestnet Portfolio Solutions Inc. reduced its holdings in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 43.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,021 shares of the company's stock after selling 796 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Lithia Motors were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Lithia Motors during the fourth quarter valued at approximately $152,752,000. Egerton Capital UK LLP bought a new stake in shares of Lithia Motors in the 4th quarter valued at about $113,250,000. Steadfast Capital Management LP increased its holdings in shares of Lithia Motors by 137.8% in the 4th quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock valued at $164,524,000 after acquiring an additional 266,715 shares during the period. Madison Investment Advisors LLC bought a new position in Lithia Motors in the fourth quarter worth about $91,190,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Lithia Motors during the first quarter valued at approximately $36,762,000.

Lithia Motors Stock Up 1.8%

Shares of NYSE:LAD opened at $335.64 on Monday. The firm has a market capitalization of $8.74 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 0.54 and a beta of 1.47. Lithia Motors, Inc. has a 1 year low of $243.04 and a 1 year high of $405.68. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.18 and a quick ratio of 0.31. The firm's 50-day moving average is $314.31 and its two-hundred day moving average is $328.23.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 earnings per share for the quarter, missing analysts' consensus estimates of $7.77 by ($0.11). The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a net margin of 2.30% and a return on equity of 12.74%. Lithia Motors's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.11 earnings per share. Analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Friday, May 9th. This is a boost from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's dividend payout ratio is 6.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America upped their price objective on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a report on Monday, June 16th. Wells Fargo & Company dropped their target price on Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group initiated coverage on shares of Lithia Motors in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 price target on the stock. Guggenheim decreased their price target on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Citigroup raised shares of Lithia Motors from a "neutral" rating to a "buy" rating and lowered their price target for the company from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $379.40.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 337 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total value of $99,731.78. Following the completion of the transaction, the director now owns 1,632 shares in the company, valued at $482,974.08. This trade represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.87% of the company's stock.

Lithia Motors Company Profile

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.

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