Lithia Motors, Inc. (NYSE:LAD) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. raised its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 42.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 8,625 shares of the company's stock after acquiring an additional 2,580 shares during the period. Pinebridge Investments L.P.'s holdings in Lithia Motors were worth $3,083,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Lithia Motors during the 4th quarter valued at about $152,752,000. Egerton Capital UK LLP purchased a new stake in Lithia Motors in the fourth quarter worth $113,250,000. Madison Investment Advisors LLC bought a new position in Lithia Motors during the 4th quarter valued at approximately $91,190,000. Wedge Capital Management L L P NC purchased a new position in shares of Lithia Motors in the 4th quarter worth about $46,505,000. Finally, Royal London Asset Management Ltd. lifted its position in Lithia Motors by 18.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company's stock valued at $129,398,000 after acquiring an additional 55,142 shares in the last quarter.

Lithia Motors Stock Up 1.3 %

Shares of NYSE:LAD traded up $3.82 during trading on Friday, hitting $297.59. 145,901 shares of the company were exchanged, compared to its average volume of 314,521. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. Lithia Motors, Inc. has a 12-month low of $243.04 and a 12-month high of $405.68. The stock has a market capitalization of $7.82 billion, a P/E ratio of 10.02, a PEG ratio of 4.65 and a beta of 1.61. The firm's 50 day moving average price is $300.01 and its 200-day moving average price is $340.13.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share for the quarter, missing the consensus estimate of $7.77 by ($0.11). Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the business earned $6.11 earnings per share. Lithia Motors's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's dividend payout ratio (DPR) is currently 6.93%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LAD. Citigroup raised Lithia Motors from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $415.00 to $375.00 in a research report on Wednesday, April 23rd. The Goldman Sachs Group lowered their target price on shares of Lithia Motors from $385.00 to $328.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. lowered their target price on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Wells Fargo & Company cut 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. Finally, Guggenheim decreased their price target on Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Lithia Motors presently has an average rating of "Moderate Buy" and an average price target of $361.20.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 248 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.84, for a total transaction of $72,128.32. Following the completion of the sale, the director now directly owns 1,297 shares in the company, valued at $377,219.48. The trade was a 16.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary M. Glandon sold 325 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $387.86, for a total transaction of $126,054.50. Following the completion of the sale, the insider now directly owns 1,665 shares of the company's stock, valued at $645,786.90. This trade represents a 16.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,583 shares of company stock worth $533,455. 0.87% of the stock is currently owned by insiders.

About Lithia Motors

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.