UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $22.75 Million Stake in Lithia Motors, Inc. $LAD

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Lithia Motors, Inc. (NYSE:LAD) by 2.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,309 shares of the company’s stock after selling 2,346 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.36% of Lithia Motors worth $22,748,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LAD. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Lithia Motors in the second quarter worth $30,000. Addison Advisors LLC acquired a new stake in Lithia Motors in the 2nd quarter valued at $30,000. Clearstead Advisors LLC grew its holdings in shares of Lithia Motors by 111.4% in the 4th quarter. Clearstead Advisors LLC now owns 93 shares of the company’s stock worth $31,000 after purchasing an additional 49 shares during the last quarter. Quarry LP increased its holdings in shares of Lithia Motors by 101.9% during the fourth quarter. Quarry LP now owns 109 shares of the company’s stock worth $36,000 after buying an additional 55 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Lithia Motors by 1,311.1% in the 2nd quarter. Versant Capital Management Inc now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 118 shares during the last quarter.

Lithia Motors Stock Up 1.8%

Shares of NYSE LAD opened at $385.63 on Friday. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 0.80 and a beta of 1.23. The company has a current ratio of 1.00, a quick ratio of 0.21 and a debt-to-equity ratio of 1.46. The stock has a 50-day moving average price of $352.07 and a two-hundred day moving average price of $303.89. Lithia Motors, Inc. has a 12 month low of $239.78 and a 12 month high of $439.49.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, July 29th. The company reported $10.03 EPS for the quarter, topping the consensus estimate of $8.73 by $1.30. The business had revenue of $9.79 billion for the quarter, compared to the consensus estimate of $9.64 billion. Lithia Motors had a net margin of 1.88% and a return on equity of 12.16%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $10.24 EPS. As a group, analysts forecast that Lithia Motors, Inc. will post 36 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were issued a dividend of $0.70 per share. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.57. This represents a $2.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 7th. Lithia Motors’s dividend payout ratio is presently 9.29%.

Lithia Motors declared that its board has approved a stock repurchase plan on Tuesday, May 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 7.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LAD shares. Benchmark upped their price objective on Lithia Motors from $400.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings raised shares of Lithia Motors from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $490.00 price objective on shares of Lithia Motors in a research report on Thursday, July 30th. Finally, Bank of America increased their target price on shares of Lithia Motors from $350.00 to $417.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $436.33.

Insiders Place Their Bets

In related news, Director Shauna McIntyre sold 165 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $305.64, for a total value of $50,430.60. Following the transaction, the director owned 1,681 shares of the company’s stock, valued at approximately $513,780.84. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.08% of the company’s stock.

Lithia Motors Company 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.