Envestnet Asset Management Inc. Has $7.89 Million Stock Position in Lithia Motors, Inc. (NYSE:LAD)

Envestnet Asset Management Inc. cut its stake in Lithia Motors, Inc. (NYSE:LAD) by 4.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,864 shares of the company’s stock after selling 1,110 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Lithia Motors worth $7,886,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. HighTower Advisors LLC grew its stake in shares of Lithia Motors by 82.7% during the fourth quarter. HighTower Advisors LLC now owns 2,330 shares of the company’s stock worth $833,000 after purchasing an additional 1,055 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Lithia Motors by 11.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,817 shares of the company’s stock valued at $649,000 after purchasing an additional 191 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Lithia Motors by 18.2% during the fourth quarter. Teacher Retirement System of Texas now owns 4,031 shares of the company’s stock valued at $1,441,000 after purchasing an additional 622 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Lithia Motors in the fourth quarter valued at approximately $2,002,000. Finally, LPL Financial LLC increased its stake in shares of Lithia Motors by 14.2% during the fourth quarter. LPL Financial LLC now owns 4,049 shares of the company’s stock worth $1,447,000 after purchasing an additional 503 shares during the period.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 337 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total value of $99,731.78. Following the completion of the transaction, the director directly owned 1,632 shares in the company, valued at approximately $482,974.08. This represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.87% of the stock is owned by insiders.

Lithia Motors Stock Up 0.9%

Shares of NYSE:LAD opened at $310.44 on Tuesday. The firm has a 50 day simple moving average of $328.50 and a 200-day simple moving average of $325.95. Lithia Motors, Inc. has a twelve month low of $247.01 and a twelve month high of $405.68. The company has a market capitalization of $8.08 billion, a PE ratio of 9.76, a P/E/G ratio of 0.49 and a beta of 1.46. The company has a current ratio of 1.18, a quick ratio of 0.31 and a debt-to-equity ratio of 1.22.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.77 by ($0.11). Lithia Motors had a net margin of 2.30% and a return on equity of 12.74%. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the company posted $6.11 earnings per share. Lithia Motors’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.55 dividend. This is a boost from Lithia Motors’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.20 annualized dividend and a dividend yield of 0.71%. Lithia Motors’s payout ratio is presently 6.93%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LAD. Wells Fargo & Company raised their price objective on Lithia Motors from $305.00 to $364.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. dropped their price objective on Lithia Motors from $345.00 to $335.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Bank of America upped their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, June 16th. Guggenheim cut their price target on shares of Lithia Motors from $417.00 to $356.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Citigroup upgraded shares of Lithia Motors from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $415.00 to $375.00 in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $382.50.

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