Lithia Motors, Inc. (NYSE:LAD) Stake Lessened by Principal Financial Group Inc. (2024)

Principal Financial Group Inc. trimmed its stake in shares of Lithia Motors, Inc. (NYSE:LAD – Free Report) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,008 shares of the company’s stock after selling 629 shares during the quarter. Principal Financial Group Inc.’s holdings in Lithia Motors were worth $33,260,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Lithia Motors by 10.3% during the third quarter. FMR LLC now owns 492,273 shares of the company’s stock worth $145,383,000 after purchasing an additional 45,977 shares during the last quarter. Kensico Capital Management Corp grew its position in shares of Lithia Motors by 41.3% in the 3rd quarter. Kensico Capital Management Corp now owns 113,000 shares of the company’s stock worth $33,372,000 after acquiring an additional 33,000 shares in the last quarter. UBS Group AG raised its position in shares of Lithia Motors by 1,288.3% during the 3rd quarter. UBS Group AG now owns 31,862 shares of the company’s stock valued at $9,410,000 after acquiring an additional 29,567 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Lithia Motors by 67.7% during the third quarter. Envestnet Asset Management Inc. now owns 60,831 shares of the company’s stock worth $17,965,000 after purchasing an additional 24,561 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Lithia Motors by 24.4% in the third quarter. Invesco Ltd. now owns 113,986 shares of the company’s stock worth $33,663,000 after purchasing an additional 22,332 shares during the period.

Insiders Place Their Bets

In other news, Director Shauna Mcintyre sold 138 shares of Lithia Motors stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total transaction of $35,109.96. Following the transaction, the director now directly owns 2,228 shares in the company, valued at approximately $566,847.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LAD shares. Craig Hallum dropped their target price on shares of Lithia Motors from $350.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Friday, April 26th. JPMorgan Chase & Co. lowered their target price on Lithia Motors from $285.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Citigroup dropped their price target on Lithia Motors from $320.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Stephens restated an “overweight” rating and set a $375.00 price objective on shares of Lithia Motors in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $318.55.

Get Our Latest Report on LAD

Lithia Motors Trading Down 0.2 %

NYSE:LAD opened at $268.34 on Friday. Lithia Motors, Inc. has a 1 year low of $218.99 and a 1 year high of $331.96. The business has a fifty day moving average of $274.22 and a 200-day moving average of $284.04. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.28 and a current ratio of 1.17. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 7.92, a PEG ratio of 2.75 and a beta of 1.59.

Lithia Motors (NYSE:LAD – Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the company earned $8.44 EPS. The business’s quarterly revenue was up 22.7% on a year-over-year basis. Equities analysts predict that Lithia Motors, Inc. will post 28.78 earnings per share for the current year.

Lithia Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.53 per share. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, May 9th. This represents a $2.12 annualized dividend and a yield of 0.79%. Lithia Motors’s payout ratio is presently 6.26%.

Lithia Motors Company Profile

(Free Report)

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.

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