Mitsubishi UFJ Trust & Banking Corp Trims Stake in Lithia Motors, Inc. (NYSE:LAD)

Mitsubishi UFJ Trust & Banking Corp cut its stake in Lithia Motors, Inc. (NYSE:LAD) by 11.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 924 shares of the company’s stock after selling 117 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lithia Motors were worth $281,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. New York Life Investment Management LLC purchased a new stake in shares of Lithia Motors in the 2nd quarter worth about $408,000. IFP Advisors Inc grew its stake in shares of Lithia Motors by 4.9% in the 2nd quarter. IFP Advisors Inc now owns 2,644 shares of the company’s stock worth $258,000 after buying an additional 123 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Lithia Motors by 1,823.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 250 shares of the company’s stock valued at $76,000 after buying an additional 237 shares in the last quarter. Headlands Technologies LLC purchased a new position in Lithia Motors during the second quarter valued at $75,000. Finally, Barclays PLC boosted its holdings in Lithia Motors by 241.9% in the second quarter. Barclays PLC now owns 128,155 shares of the company’s stock worth $38,975,000 after acquiring an additional 90,676 shares in the last quarter.

Analyst Ratings Changes

LAD has been the subject of several recent analyst reports. StockNews.com started coverage on Lithia Motors in a research report on Thursday, October 5th. They issued a “hold” rating for the company. The Goldman Sachs Group decreased their target price on shares of Lithia Motors from $348.00 to $300.00 and set a “neutral” rating for the company in a report on Thursday, October 26th. Wells Fargo & Company decreased their target price on shares of Lithia Motors from $275.00 to $259.00 and set an “equal weight” rating for the company in a report on Thursday, October 26th. Benchmark lifted their target price on shares of Lithia Motors from $300.00 to $375.00 in a report on Thursday, July 27th. Finally, JPMorgan Chase & Co. cut shares of Lithia Motors from an “overweight” rating to a “neutral” rating and set a $295.00 target price for the company. in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $324.89.

Lithia Motors Stock Performance

Shares of LAD stock opened at $271.38 on Friday. The company has a 50 day moving average price of $273.08 and a 200-day moving average price of $277.77. Lithia Motors, Inc. has a 52 week low of $185.00 and a 52 week high of $329.00. The firm has a market capitalization of $7.47 billion, a PE ratio of 7.23, a P/E/G ratio of 2.31 and a beta of 1.57. The company has a quick ratio of 0.32, a current ratio of 1.33 and a debt-to-equity ratio of 1.09.

Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, October 25th. The company reported $9.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.99 by ($0.74). The business had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.17 billion. Lithia Motors had a net margin of 3.41% and a return on equity of 18.51%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $11.08 earnings per share. As a group, equities research analysts expect that Lithia Motors, Inc. will post 37.29 earnings per share for the current year.

Lithia Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Friday, November 10th were given a $0.50 dividend. The ex-dividend date was Thursday, November 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.74%. Lithia Motors’s payout ratio is currently 5.33%.

Insiders Place Their Bets

In other news, Director Sidney B. Deboer sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $310.59, for a total value of $1,552,950.00. Following the transaction, the director now owns 21,919 shares of the company’s stock, valued at $6,807,822.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Sidney B. Deboer sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $310.59, for a total value of $1,552,950.00. Following the transaction, the director now owns 21,919 shares of the company’s stock, valued at $6,807,822.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Shauna Mcintyre sold 164 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $299.00, for a total transaction of $49,036.00. Following the completion of the transaction, the director now directly owns 1,887 shares in the company, valued at approximately $564,213. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Lithia Motors Company Profile

Lithia Motors, Inc operates as an automotive retailer. The company operates through Domestic, Import, and Luxury segments. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells body and parts for the new vehicles under the Driveway and GreenCars brand names.