Bank of Nova Scotia Trims Holdings in Lithia Motors, Inc. (NYSE:LAD)

Bank of Nova Scotia decreased its holdings in Lithia Motors, Inc. (NYSE:LAD – Get Rating) by 50.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,425 shares of the company’s stock after selling 1,445 shares during the period. Bank of Nova Scotia’s holdings in Lithia Motors were worth $292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Exchange Traded Concepts LLC grew its position in shares of Lithia Motors by 405.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 172 shares of the company’s stock worth $35,000 after buying an additional 138 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Lithia Motors by 129.6% during the 4th quarter. Fifth Third Bancorp now owns 186 shares of the company’s stock worth $38,000 after buying an additional 105 shares in the last quarter. Ronald Blue Trust Inc. grew its position in shares of Lithia Motors by 93.5% during the 4th quarter. Ronald Blue Trust Inc. now owns 180 shares of the company’s stock worth $39,000 after buying an additional 87 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Lithia Motors during the 2nd quarter worth $46,000. Finally, Signaturefd LLC grew its position in shares of Lithia Motors by 120.6% during the 3rd quarter. Signaturefd LLC now owns 236 shares of the company’s stock worth $51,000 after buying an additional 129 shares in the last quarter. Hedge funds and other institutional investors own 98.21% of the company’s stock.

Lithia Motors Trading Up 0.6 %

Lithia Motors stock opened at $236.24 on Friday. The stock has a 50-day moving average of $220.16 and a two-hundred day moving average of $230.45. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.33 and a current ratio of 1.30. Lithia Motors, Inc. has a one year low of $180.00 and a one year high of $314.83. The stock has a market cap of $6.50 billion, a PE ratio of 5.79, a price-to-earnings-growth ratio of 2.10 and a beta of 1.38.

Lithia Motors (NYSE:LAD – Get Rating) last released its quarterly earnings results on Wednesday, April 19th. The company reported $8.44 EPS for the quarter, missing analysts’ consensus estimates of $8.79 by ($0.35). Lithia Motors had a net margin of 3.99% and a return on equity of 22.34%. The business had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter last year, the business posted $11.96 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts anticipate that Lithia Motors, Inc. will post 34.16 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Friday, May 12th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.85%. This is a boost from Lithia Motors’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, May 11th. Lithia Motors’s dividend payout ratio (DPR) is presently 4.90%.

Wall Street Analyst Weigh In

LAD has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target on Lithia Motors from $233.00 to $262.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 16th. TheStreet raised Lithia Motors from a “c+” rating to a “b-” rating in a research report on Wednesday, February 1st. Guggenheim dropped their price objective on Lithia Motors from $332.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday, April 20th. Finally, StockNews.com assumed coverage on Lithia Motors in a research report on Thursday, May 18th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $300.56.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 200 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $224.75, for a total value of $44,950.00. Following the completion of the transaction, the director now directly owns 2,251 shares in the company, valued at $505,912.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider George N. Hines sold 1,490 shares of Lithia Motors stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $219.55, for a total transaction of $327,129.50. Following the completion of the transaction, the insider now directly owns 5,142 shares in the company, valued at $1,128,926.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Shauna Mcintyre sold 200 shares of Lithia Motors stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $224.75, for a total value of $44,950.00. Following the transaction, the director now owns 2,251 shares of the company’s stock, valued at $505,912.25. The disclosure for this sale can be found here. Insiders sold a total of 1,857 shares of company stock worth $415,500 over the last three months. 1.90% of the stock is currently owned by insiders.

Lithia Motors Company Profile

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Lithia Motors, Inc engages in the operation of automotive franchises and retail of new and used vehicles. It operates through the following segments: Domestic, Import and Luxury. The Domestic segment consists of retail automotive franchises that sell new vehicles manufactured by Chrysler, General Motors, and Ford.