Allspring Global Investments Holdings LLC Boosts Stock Position in Lithia Motors, Inc. (NYSE:LAD)

Allspring Global Investments Holdings LLC increased its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 514.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 664 shares of the company’s stock after acquiring an additional 556 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Lithia Motors were worth $219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LAD. FMR LLC boosted its stake in shares of Lithia Motors by 10.3% in the third quarter. FMR LLC now owns 492,273 shares of the company’s stock valued at $145,383,000 after purchasing an additional 45,977 shares during the period. Kensico Capital Management Corp boosted its position in Lithia Motors by 41.3% in the 3rd quarter. Kensico Capital Management Corp now owns 113,000 shares of the company’s stock valued at $33,372,000 after buying an additional 33,000 shares during the period. UBS Group AG grew its stake in shares of Lithia Motors by 1,288.3% in the third quarter. UBS Group AG now owns 31,862 shares of the company’s stock worth $9,410,000 after acquiring an additional 29,567 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Lithia Motors by 67.7% during the third quarter. Envestnet Asset Management Inc. now owns 60,831 shares of the company’s stock worth $17,965,000 after acquiring an additional 24,561 shares during the period. Finally, Invesco Ltd. boosted its holdings in Lithia Motors by 24.4% in the third quarter. Invesco Ltd. now owns 113,986 shares of the company’s stock valued at $33,663,000 after purchasing an additional 22,332 shares during the period.

Lithia Motors Stock Up 1.9 %

LAD stock opened at $262.72 on Friday. The company’s 50-day moving average price is $282.64 and its 200 day moving average price is $283.62. The company has a market cap of $7.23 billion, a P/E ratio of 7.76, a P/E/G ratio of 2.18 and a beta of 1.58. The company has a current ratio of 1.17, a quick ratio of 0.45 and a debt-to-equity ratio of 1.16. Lithia Motors, Inc. has a 52 week low of $206.69 and a 52 week high of $331.96.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $8.58 billion. Lithia Motors had a return on equity of 15.59% and a net margin of 2.87%. During the same quarter in the previous year, the firm posted $8.44 earnings per share. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, research analysts expect that Lithia Motors, Inc. will post 34.78 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 24th. Investors of record on Friday, May 10th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Thursday, May 9th. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s dividend payout ratio (DPR) is currently 5.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Guggenheim cut their price target on Lithia Motors from $320.00 to $297.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Evercore ISI began coverage on shares of Lithia Motors in a report on Wednesday, January 17th. They issued an “outperform” rating and a $400.00 target price on the stock. StockNews.com raised Lithia Motors from a “sell” rating to a “hold” rating in a report on Friday. Wells Fargo & Company decreased their target price on Lithia Motors from $290.00 to $248.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Bank of America increased their price target on shares of Lithia Motors from $380.00 to $385.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $320.82.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 135 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $297.84, for a total value of $40,208.40. Following the transaction, the director now directly owns 1,662 shares in the company, valued at approximately $495,010.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.79% of the stock is currently owned by corporate insiders.

Lithia Motors 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.