River Road Asset Management LLC Has $246.81 Million Stock Position in Lithia Motors, Inc. $LAD

River Road Asset Management LLC boosted its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 33.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 742,677 shares of the company’s stock after acquiring an additional 186,628 shares during the period. Lithia Motors accounts for about 2.7% of River Road Asset Management LLC’s investment portfolio, making the stock its 3rd largest holding. River Road Asset Management LLC owned about 3.06% of Lithia Motors worth $246,814,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Clearstead Advisors LLC lifted its holdings in shares of Lithia Motors by 111.4% during the fourth quarter. Clearstead Advisors LLC now owns 93 shares of the company’s stock valued at $31,000 after purchasing an additional 49 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Lithia Motors in the 4th quarter worth approximately $34,000. Quarry LP increased its position in Lithia Motors by 101.9% during the 4th quarter. Quarry LP now owns 109 shares of the company’s stock valued at $36,000 after buying an additional 55 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Lithia Motors during the 4th quarter valued at approximately $38,000. Finally, eCIO Inc. purchased a new position in Lithia Motors during the fourth quarter valued at $42,000.

Lithia Motors Stock Performance

LAD stock opened at $294.95 on Friday. The stock’s 50 day simple moving average is $284.72 and its 200 day simple moving average is $298.32. The company has a current ratio of 0.99, a quick ratio of 0.24 and a debt-to-equity ratio of 1.41. Lithia Motors, Inc. has a 12-month low of $239.78 and a 12-month high of $360.55. The stock has a market capitalization of $6.73 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, April 29th. The company reported $7.34 EPS for the quarter, topping analysts’ consensus estimates of $7.06 by $0.28. Lithia Motors had a return on equity of 12.49% and a net margin of 1.88%.The business had revenue of $9.27 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the company earned $7.66 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, research analysts forecast that Lithia Motors, Inc. will post 34.37 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, May 8th. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.55. Lithia Motors’s dividend payout ratio is 8.01%.

Lithia Motors announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 7.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LAD shares. Barclays cut their target price on Lithia Motors from $380.00 to $370.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Citigroup lifted their price target on Lithia Motors from $326.00 to $365.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. UBS Group began coverage on shares of Lithia Motors in a research note on Wednesday, May 27th. They issued a “buy” rating and a $348.00 price target on the stock. Weiss Ratings downgraded shares of Lithia Motors from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company raised their price objective on shares of Lithia Motors from $293.00 to $305.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $368.11.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Richard J. Bailey, Jr. sold 297 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $280.57, for a total value of $83,329.29. Following the completion of the transaction, the director owned 760 shares of the company’s stock, valued at approximately $213,233.20. The trade was a 28.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shauna Mcintyre sold 245 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $294.64, for a total transaction of $72,186.80. Following the transaction, the director directly owned 1,846 shares of the company’s stock, valued at $543,905.44. The trade was a 11.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 782 shares of company stock valued at $229,572. 1.08% of the stock is owned by insiders.

Lithia Motors Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.