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

Envestnet Asset Management Inc. trimmed its stake in Lithia Motors, Inc. (NYSE:LAD) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,864 shares of the company’s stock after selling 1,110 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of Lithia Motors worth $7,886,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LAD. Norges Bank purchased a new stake in shares of Lithia Motors during the fourth quarter valued at approximately $152,752,000. Steadfast Capital Management LP lifted its stake in Lithia Motors by 137.8% in the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company’s stock worth $164,524,000 after acquiring an additional 266,715 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Lithia Motors in the first quarter worth $36,762,000. Janney Montgomery Scott LLC lifted its stake in Lithia Motors by 1,865.4% in the first quarter. Janney Montgomery Scott LLC now owns 92,293 shares of the company’s stock worth $27,092,000 after acquiring an additional 87,597 shares during the period. Finally, Advent International L.P. lifted its stake in Lithia Motors by 52.9% in the fourth quarter. Advent International L.P. now owns 217,151 shares of the company’s stock worth $77,616,000 after acquiring an additional 75,151 shares during the period.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 337 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total transaction of $99,731.78. Following the transaction, the director 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 can be accessed through this hyperlink. Corporate 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. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.18 and a quick ratio of 0.31. The stock has a market capitalization of $8.08 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 0.49 and a beta of 1.46. Lithia Motors, Inc. has a 1-year low of $247.01 and a 1-year high of $405.68. The business has a fifty day moving average price of $328.50 and a 200 day moving average price of $325.95.

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

Lithia Motors Increases Dividend

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

Wall Street Analyst Weigh In

LAD has been the subject of a number of research reports. Guggenheim decreased their price objective on Lithia Motors from $417.00 to $356.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group assumed coverage on Lithia Motors in a report on Tuesday, June 3rd. They set a “neutral” rating and a $340.00 price target for the company. Bank of America raised their price target on Lithia Motors from $430.00 to $500.00 and gave the company a “buy” rating in a report on Monday, June 16th. Citigroup upgraded Lithia Motors from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $415.00 to $375.00 in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their price objective on Lithia Motors from $305.00 to $364.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.