Envestnet Asset Management Inc. Grows Position in Lithia Motors, Inc. (NYSE:LAD)

Envestnet Asset Management Inc. raised its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,974 shares of the company’s stock after acquiring an additional 1,013 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.11% of Lithia Motors worth $9,999,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Lithia Motors in the 4th quarter valued at about $152,752,000. Egerton Capital UK LLP purchased a new position in Lithia Motors in the fourth quarter worth $113,250,000. Madison Investment Advisors LLC acquired a new stake in shares of Lithia Motors in the fourth quarter valued at about $91,190,000. Wedge Capital Management L L P NC purchased a new stake in shares of Lithia Motors during the 4th quarter worth approximately $46,505,000. Finally, Royal London Asset Management Ltd. grew its holdings in Lithia Motors by 18.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company’s stock valued at $129,398,000 after purchasing an additional 55,142 shares during the last quarter.

Lithia Motors Price Performance

Shares of NYSE:LAD opened at $288.27 on Friday. The company has a quick ratio of 0.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.22. The firm has a 50-day simple moving average of $314.33 and a 200 day simple moving average of $341.10. Lithia Motors, Inc. has a fifty-two week low of $243.00 and a fifty-two week high of $405.68. The company has a market cap of $7.58 billion, a PE ratio of 9.71, a P/E/G ratio of 4.65 and a beta of 1.61.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, February 12th. The company reported $7.79 EPS for the quarter, topping the consensus estimate of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. On average, sell-side analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.74%. Lithia Motors’s dividend payout ratio (DPR) is 7.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LAD shares. Wells Fargo & Company raised their price objective on shares of Lithia Motors from $346.00 to $397.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Benchmark reaffirmed a “buy” rating and set a $400.00 price target on shares of Lithia Motors in a research note on Thursday, February 20th. Evercore ISI boosted their target price on Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price objective on Lithia Motors from $420.00 to $360.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $365.91.

Insider Buying and Selling

In other news, insider Gary M. Glandon sold 325 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shauna Mcintyre sold 248 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.84, for a total value of $72,128.32. Following the sale, the director now owns 1,297 shares in the company, valued at approximately $377,219.48. The trade was a 16.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,246 shares of company stock valued at $433,724 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

Lithia Motors Company 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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.