TimesSquare Capital Management LLC decreased its holdings in shares of Lithia Motors Inc (NYSE:LAD) by 8.1% during the fourth quarter, HoldingsChannel reports. The firm owned 205,790 shares of the company’s stock after selling 18,100 shares during the period. TimesSquare Capital Management LLC’s holdings in Lithia Motors were worth $23,376,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new stake in Lithia Motors during the third quarter valued at $144,000. Contravisory Investment Management Inc. raised its stake in Lithia Motors by 174.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 1,655 shares of the company’s stock valued at $188,000 after purchasing an additional 1,053 shares in the last quarter. Strs Ohio raised its stake in Lithia Motors by 325.0% during the third quarter. Strs Ohio now owns 1,700 shares of the company’s stock valued at $204,000 after purchasing an additional 1,300 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Lithia Motors by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 1,806 shares of the company’s stock valued at $170,000 after purchasing an additional 204 shares in the last quarter. Finally, Intrust Bank NA purchased a new stake in Lithia Motors during the third quarter valued at $231,000.
Lithia Motors Inc (LAD) opened at $106.98 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.28 and a current ratio of 1.21. Lithia Motors Inc has a 1 year low of $80.88 and a 1 year high of $127.99. The firm has a market cap of $2,676.64, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 0.52 and a beta of 1.78.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, March 8th. Lithia Motors’s dividend payout ratio (DPR) is 11.07%.
In other Lithia Motors news, Director Kenneth E. Roberts sold 5,000 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $126.00, for a total transaction of $630,000.00. Following the transaction, the director now owns 105,064 shares in the company, valued at $13,238,064. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.85% of the company’s stock.
A number of equities research analysts recently issued reports on LAD shares. Bank of America raised shares of Lithia Motors from an “underperform” rating to a “neutral” rating and set a $128.00 price target on the stock in a research note on Monday, January 8th. Zacks Investment Research raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. KeyCorp reaffirmed a “buy” rating and set a $130.00 price target on shares of Lithia Motors in a research note on Monday, November 13th. Stephens reaffirmed a “buy” rating on shares of Lithia Motors in a research note on Thursday, February 15th. Finally, Buckingham Research decreased their price target on shares of Lithia Motors from $137.00 to $131.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $127.86.
Lithia Motors Profile
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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