Voya Investment Management LLC Sells 2,404 Shares of Lithia Motors, Inc. (NYSE:LAD)

Voya Investment Management LLC lessened its holdings in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 24.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,309 shares of the company's stock after selling 2,404 shares during the period. Voya Investment Management LLC's holdings in Lithia Motors were worth $2,612,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Atlas Capital Advisors Inc. bought a new position in Lithia Motors in the 4th quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new stake in Lithia Motors during the fourth quarter worth about $35,000. UMB Bank n.a. boosted its stake in Lithia Motors by 69.9% in the fourth quarter. UMB Bank n.a. now owns 124 shares of the company's stock valued at $44,000 after acquiring an additional 51 shares during the last quarter. V Square Quantitative Management LLC grew its position in shares of Lithia Motors by 33.9% during the 4th quarter. V Square Quantitative Management LLC now owns 146 shares of the company's stock valued at $52,000 after acquiring an additional 37 shares during the period. Finally, Rakuten Securities Inc. increased its stake in shares of Lithia Motors by 1,420.0% during the 4th quarter. Rakuten Securities Inc. now owns 152 shares of the company's stock worth $54,000 after purchasing an additional 142 shares during the last quarter.

Lithia Motors Stock Down 0.4 %

Shares of LAD stock traded down $1.12 during midday trading on Tuesday, reaching $297.32. 146,838 shares of the stock were exchanged, compared to its average volume of 314,396. The firm has a market cap of $7.74 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 4.65 and a beta of 1.48. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22. The company's 50 day moving average is $298.08 and its two-hundred day moving average is $340.34. Lithia Motors, Inc. has a 1 year low of $243.04 and a 1 year high of $405.68.

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

Lithia Motors Increases Dividend

The firm 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. 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. This represents a $2.20 annualized dividend and a dividend yield of 0.74%. Lithia Motors's dividend payout ratio (DPR) is 6.93%.

Insider Activity

In other Lithia Motors news, Director Shauna Mcintyre sold 248 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.84, for a total transaction of $72,128.32. Following the sale, the director now directly owns 1,297 shares of the company's stock, valued at $377,219.48. This trade represents a 16.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary M. Glandon sold 325 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $387.86, for a total value of $126,054.50. Following the completion of the transaction, the insider now directly owns 1,665 shares of the company's stock, valued at approximately $645,786.90. This trade represents a 16.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,583 shares of company stock valued at $533,455 over the last three months. Insiders own 0.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LAD. JPMorgan Chase & Co. decreased their price objective on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Wells Fargo & Company decreased their target price on Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. StockNews.com raised shares of Lithia Motors from a "sell" rating to a "hold" rating in a report on Tuesday, January 14th. Evercore ISI lifted their price target on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, Benchmark restated a "buy" rating and set a $400.00 target price on shares of Lithia Motors in a report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Lithia Motors currently has an average rating of "Moderate Buy" and a consensus target price of $361.20.

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.