Federated Hermes Inc. Trims Stock Holdings in Lithia Motors, Inc. (NYSE:LAD)

Federated Hermes Inc. lowered its holdings in Lithia Motors, Inc. (NYSE:LAD) by 12.0% in the fourth quarter, HoldingsChannel reports. The firm owned 2,744 shares of the company’s stock after selling 373 shares during the period. Federated Hermes Inc.’s holdings in Lithia Motors were worth $904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LAD. Allspring Global Investments Holdings LLC purchased a new position in Lithia Motors in the third quarter valued at about $32,000. Denali Advisors LLC boosted its holdings in Lithia Motors by 5,050.0% in the fourth quarter. Denali Advisors LLC now owns 103 shares of the company’s stock valued at $34,000 after purchasing an additional 101 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in Lithia Motors by 509.5% in the third quarter. JFS Wealth Advisors LLC now owns 128 shares of the company’s stock valued at $38,000 after purchasing an additional 107 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Lithia Motors by 32.0% in the third quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock valued at $68,000 after purchasing an additional 56 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Lithia Motors by 52.0% in the third quarter. EverSource Wealth Advisors LLC now owns 380 shares of the company’s stock valued at $112,000 after purchasing an additional 130 shares during the last quarter.

Lithia Motors Trading Down 0.2 %

Shares of NYSE LAD opened at $253.99 on Thursday. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 7.50, a price-to-earnings-growth ratio of 2.32 and a beta of 1.58. Lithia Motors, Inc. has a 12-month low of $206.69 and a 12-month high of $331.96. The company has a current ratio of 1.17, a quick ratio of 0.28 and a debt-to-equity ratio of 1.17. The stock’s 50 day simple moving average is $280.91 and its 200 day simple moving average is $283.35.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.85 by ($1.74). The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.58 billion. Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period last year, the business posted $8.44 EPS. Equities research analysts expect that Lithia Motors, Inc. will post 33.17 EPS for the current year.

Lithia Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.12 annualized dividend and a yield of 0.83%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s payout ratio is presently 5.90%.

Analysts Set New Price Targets

LAD has been the topic of a number of research analyst reports. Evercore ISI started coverage on Lithia Motors in a report on Wednesday, January 17th. They set an “outperform” rating and a $400.00 target price on the stock. Citigroup decreased their target price on Lithia Motors from $320.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group lifted their target price on Lithia Motors from $300.00 to $334.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Bank of America lifted their target price on Lithia Motors from $380.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Stephens reiterated an “overweight” rating and issued a $375.00 target price on shares of Lithia Motors in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lithia Motors presently has a consensus rating of “Hold” and a consensus price target of $320.82.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 135 shares of Lithia Motors stock in a transaction on Friday, February 16th. The stock was sold at an average price of $297.84, for a total transaction of $40,208.40. Following the sale, the director now owns 1,662 shares of the company’s stock, valued at approximately $495,010.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.79% of the stock is owned by company 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.