Canada Pension Plan Investment Board Has $174.27 Million Stock Position in Lithia Motors, Inc. (NYSE:LAD)

Canada Pension Plan Investment Board lessened its stake in Lithia Motors, Inc. (NYSE:LAD) by 5.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 690,311 shares of the company’s stock after selling 37,538 shares during the quarter. Canada Pension Plan Investment Board owned 2.52% of Lithia Motors worth $174,269,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in LAD. Benjamin F. Edwards & Company Inc. boosted its stake in Lithia Motors by 12.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company’s stock worth $116,000 after purchasing an additional 52 shares during the period. Blue Trust Inc. boosted its position in shares of Lithia Motors by 83.6% during the second quarter. Blue Trust Inc. now owns 134 shares of the company’s stock worth $34,000 after buying an additional 61 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Lithia Motors by 13.3% during the first quarter. EverSource Wealth Advisors LLC now owns 554 shares of the company’s stock worth $167,000 after buying an additional 65 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Lithia Motors by 2.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,628 shares of the company’s stock valued at $663,000 after buying an additional 72 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in Lithia Motors by 2.2% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 3,468 shares of the company’s stock valued at $1,043,000 after acquiring an additional 73 shares in the last quarter.

Wall Street Analyst Weigh In

LAD has been the subject of several research reports. The Goldman Sachs Group raised their price target on shares of Lithia Motors from $300.00 to $335.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Lithia Motors from $315.00 to $375.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Bank of America increased their price objective on shares of Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Wells Fargo & Company upped their target price on Lithia Motors from $266.00 to $302.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, Guggenheim upgraded Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 price target for the company in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Lithia Motors has a consensus rating of “Hold” and an average price target of $326.00.

Lithia Motors Stock Performance

NYSE LAD opened at $299.70 on Friday. Lithia Motors, Inc. has a 52-week low of $231.36 and a 52-week high of $331.96. The stock has a market cap of $8.21 billion, a PE ratio of 8.85, a P/E/G ratio of 0.26 and a beta of 1.64. The firm has a 50-day moving average of $279.90 and a 200-day moving average of $271.33. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.30 and a current ratio of 1.19.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.09 by $0.78. The company had revenue of $9.23 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The business’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.91 earnings per share. On average, sell-side analysts anticipate that Lithia Motors, Inc. will post 28.89 EPS for the current year.

Lithia Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, August 9th. Lithia Motors’s payout ratio is 6.26%.

Insider Transactions at Lithia Motors

In related news, Director Sidney B. Deboer sold 10,777 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $275.93, for a total transaction of $2,973,697.61. Following the transaction, the director now directly owns 35,352 shares of the company’s stock, valued at $9,754,677.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Sidney B. Deboer sold 10,777 shares of Lithia Motors stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the completion of the sale, the director now directly owns 35,352 shares in the company, valued at $9,754,677.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sidney B. Deboer sold 11,938 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total value of $3,472,286.68. Following the sale, the director now directly owns 46,129 shares in the company, valued at approximately $13,417,080.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,021 shares of company stock valued at $6,534,617. 1.79% of the stock is currently owned by corporate insiders.

Lithia Motors Company Profile

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.