Envestnet Asset Management Inc. Sells 1,110 Shares of Lithia Motors, Inc. (NYSE:LAD)

Envestnet Asset Management Inc. lowered its stake in shares of Lithia Motors, Inc. (NYSE:LAD) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in Lithia Motors by 118.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,841 shares of the company’s stock worth $541,000 after purchasing an additional 997 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Lithia Motors by 1.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,421 shares of the company’s stock valued at $711,000 after buying an additional 35 shares during the last quarter. Vident Advisory LLC raised its stake in shares of Lithia Motors by 4.3% in the fourth quarter. Vident Advisory LLC now owns 780 shares of the company’s stock valued at $279,000 after buying an additional 32 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Lithia Motors by 50.9% in the 1st quarter. GAMMA Investing LLC now owns 252 shares of the company’s stock worth $74,000 after purchasing an additional 85 shares in the last quarter. Finally, KBC Group NV increased its position in Lithia Motors by 12.1% during the 1st quarter. KBC Group NV now owns 1,178 shares of the company’s stock valued at $346,000 after buying an additional 127 shares in the last quarter.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Shauna Mcintyre sold 337 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $295.94, for a total value of $99,731.78. Following the sale, the director directly owned 1,632 shares of the company’s stock, valued at $482,974.08. This trade 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 the SEC website. Insiders own 0.87% of the company’s stock.

Lithia Motors Trading Up 0.9%

Shares of NYSE LAD opened at $310.44 on Tuesday. Lithia Motors, Inc. has a 1-year low of $247.01 and a 1-year high of $405.68. The company has a market cap of $8.08 billion, a PE ratio of 9.78, 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. The company has a 50-day moving average of $328.50 and a two-hundred day moving average of $325.95.

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

Lithia Motors Increases Dividend

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

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.