Invesco Ltd. Grows Stock Holdings in Lithia Motors, Inc. $LAD

Key Points

• Invesco Ltd. increased its stake in Lithia Motors, Inc. by 4.4%, now holding 119,466 shares valued at approximately $35 million.
• The company's stock has seen recent analyst rating changes, with price targets ranging between $315 and $500, indicating a consensus rating of "Moderate Buy".
• Lithia Motors recently declared a quarterly dividend of $0.55 per share, with a dividend yield of 0.7% expected to be issued on August 22nd.

Invesco Ltd. lifted its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,466 shares of the company's stock after purchasing an additional 5,005 shares during the period. Invesco Ltd. owned about 0.46% of Lithia Motors worth $35,068,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. NBC Securities Inc. purchased a new stake in shares of Lithia Motors during the 1st quarter worth $59,000. UMB Bank n.a. lifted its position in Lithia Motors by 63.7% in the first quarter. UMB Bank n.a. now owns 203 shares of the company's stock valued at $60,000 after acquiring an additional 79 shares during the last quarter. CWM LLC lifted its position in Lithia Motors by 30.1% in the first quarter. CWM LLC now owns 212 shares of the company's stock valued at $62,000 after acquiring an additional 49 shares during the last quarter. GAMMA Investing LLC lifted its position in Lithia Motors by 50.9% in the first quarter. GAMMA Investing LLC now owns 252 shares of the company's stock valued at $74,000 after acquiring an additional 85 shares during the last quarter. Finally, Forum Financial Management LP purchased a new stake in Lithia Motors in the fourth quarter valued at $202,000.

Lithia Motors Stock Up 1.3%

Shares of NYSE LAD opened at $304.68 on Tuesday. Lithia Motors, Inc. has a 12-month low of $255.32 and a 12-month high of $405.67. The company has a market capitalization of $7.81 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 0.47 and a beta of 1.30. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 0.29. The firm's 50-day moving average is $321.52 and its two-hundred day moving average is $318.03.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.78 by $0.46. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. The company had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $9.56 billion. Equities analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 8th. Lithia Motors's dividend payout ratio is 6.52%.

Analyst Ratings Changes

A number of brokerages recently weighed in on LAD. Guggenheim reduced their price target on shares of Lithia Motors from $383.00 to $380.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Bank of America boosted their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research report on Monday, June 16th. JPMorgan Chase & Co. dropped their price objective on shares of Lithia Motors from $335.00 to $315.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 5th. The Goldman Sachs Group started coverage on shares of Lithia Motors in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price target on the stock. Finally, Citigroup boosted their price target on shares of Lithia Motors from $378.00 to $383.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $379.00.

Insider Activity

In other Lithia Motors news, Director Shauna Mcintyre sold 256 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $293.05, for a total value of $75,020.80. Following the sale, the director owned 1,376 shares of the company's stock, valued at $403,236.80. This represents a 15.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is owned by company insiders.

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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