Public Employees Retirement System of Ohio Sells 129 Shares of Lithia Motors, Inc. $LAD

Public Employees Retirement System of Ohio decreased its position in Lithia Motors, Inc. (NYSE:LAD) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,943 shares of the company’s stock after selling 129 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Lithia Motors were worth $2,683,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Lithia Motors by 76.6% in the second quarter. GAMMA Investing LLC now owns 445 shares of the company’s stock valued at $150,000 after purchasing an additional 193 shares during the period. UMB Bank n.a. increased its position in Lithia Motors by 29.1% during the second quarter. UMB Bank n.a. now owns 262 shares of the company’s stock worth $89,000 after acquiring an additional 59 shares during the period. Harbor Capital Advisors Inc. increased its position in Lithia Motors by 39.6% during the second quarter. Harbor Capital Advisors Inc. now owns 16,823 shares of the company’s stock worth $5,683,000 after acquiring an additional 4,770 shares during the period. Red Spruce Capital LLC increased its position in Lithia Motors by 0.6% during the second quarter. Red Spruce Capital LLC now owns 7,880 shares of the company’s stock worth $2,662,000 after acquiring an additional 44 shares during the period. Finally, Parallel Advisors LLC increased its position in Lithia Motors by 106.2% during the second quarter. Parallel Advisors LLC now owns 134 shares of the company’s stock worth $45,000 after acquiring an additional 69 shares during the period.

Insider Activity at Lithia Motors

In other news, Director Shauna Mcintyre sold 256 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $293.05, for a total value of $75,020.80. Following the sale, the director owned 1,376 shares in the company, valued at approximately $403,236.80. The trade was a 15.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.87% of the company’s stock.

Lithia Motors Stock Up 2.2%

Shares of NYSE:LAD opened at $323.03 on Thursday. Lithia Motors, Inc. has a 52 week low of $262.10 and a 52 week high of $405.67. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 1.22. The company’s fifty day moving average is $318.77 and its 200-day moving average is $315.06. The company has a market capitalization of $8.28 billion, a PE ratio of 9.58, a P/E/G ratio of 0.64 and a beta of 1.28.

Lithia Motors (NYSE:LAD) last issued its earnings results on Tuesday, July 29th. The company reported $10.24 EPS for the quarter, beating the consensus estimate of $9.78 by $0.46. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. The company had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $9.56 billion. Equities research analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 26th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Lithia Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 8th. Lithia Motors’s payout ratio is currently 6.52%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LAD shares. Bank of America dropped their target price on shares of Lithia Motors from $500.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, September 10th. Citigroup boosted their target price on shares of Lithia Motors from $378.00 to $383.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Wells Fargo & Company dropped their target price on shares of Lithia Motors from $364.00 to $317.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. dropped their target price on shares of Lithia Motors from $335.00 to $315.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 5th. Finally, Guggenheim dropped their target price on shares of Lithia Motors from $383.00 to $380.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.50.

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.