Boston Private Wealth LLC bought a new stake in shares of Lithia Motors, Inc. (NYSE:LAD) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 1,730 shares of the company’s stock, valued at approximately $675,000.
Other large investors have also bought and sold shares of the company. TCI Wealth Advisors Inc. grew its holdings in shares of Lithia Motors by 133.3% during the first quarter. TCI Wealth Advisors Inc. now owns 84 shares of the company’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Capital Asset Advisory Services LLC purchased a new stake in shares of Lithia Motors during the fourth quarter worth about $25,000. Tobam purchased a new stake in shares of Lithia Motors during the first quarter worth about $36,000. CWM LLC grew its holdings in shares of Lithia Motors by 228.9% during the first quarter. CWM LLC now owns 148 shares of the company’s stock worth $58,000 after buying an additional 103 shares in the last quarter. Finally, Charter Oak Capital Management LLC purchased a new stake in shares of Lithia Motors during the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 98.47% of the company’s stock.
In other news, Director Shauna Mcintyre sold 110 shares of the business’s stock in a transaction on Thursday, April 22nd. The shares were sold at an average price of $388.97, for a total transaction of $42,786.70. Following the transaction, the director now directly owns 1,730 shares of the company’s stock, valued at $672,918.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.00% of the company’s stock.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Tuesday, April 20th. The company reported $5.89 earnings per share for the quarter, beating analysts’ consensus estimates of $4.73 by $1.16. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Lithia Motors had a net margin of 3.96% and a return on equity of 25.27%. Lithia Motors’s revenue was up 54.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.01 earnings per share. On average, research analysts anticipate that Lithia Motors, Inc. will post 23.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 21st. Stockholders of record on Friday, May 7th were given a dividend of $0.35 per share. This is a boost from Lithia Motors’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Thursday, May 6th. Lithia Motors’s payout ratio is presently 7.70%.
A number of brokerages have recently commented on LAD. Bank of America upgraded shares of Lithia Motors from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $420.00 to $460.00 in a report on Friday, May 21st. Citigroup boosted their target price on shares of Lithia Motors from $320.00 to $385.00 and gave the company a “neutral” rating in a report on Wednesday, February 24th. Craig Hallum boosted their target price on shares of Lithia Motors from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, March 11th. Zacks Investment Research upgraded shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $449.00 target price for the company in a report on Monday, April 26th. Finally, Guggenheim boosted their target price on shares of Lithia Motors from $462.00 to $465.00 and gave the company a “buy” rating in a report on Thursday, April 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $370.92.
About Lithia Motors
Lithia Motors, Inc operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Luxury. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells vehicle body and parts.
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