Truist Financial Corp Grows Holdings in Lithia Motors, Inc. (NYSE:LAD)

Truist Financial Corp raised its position in Lithia Motors, Inc. (NYSE:LAD) by 17.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,456 shares of the company’s stock after purchasing an additional 219 shares during the period. Truist Financial Corp’s holdings in Lithia Motors were worth $520,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Lithia Motors by 12.8% during the 3rd quarter. FMR LLC now owns 753,067 shares of the company’s stock worth $239,204,000 after acquiring an additional 85,579 shares during the period. River Road Asset Management LLC lifted its holdings in shares of Lithia Motors by 27.5% during the 3rd quarter. River Road Asset Management LLC now owns 365,184 shares of the company’s stock worth $115,997,000 after acquiring an additional 78,784 shares during the period. Tensile Capital Management LP lifted its holdings in shares of Lithia Motors by 2.4% during the 3rd quarter. Tensile Capital Management LP now owns 261,527 shares of the company’s stock worth $83,071,000 after acquiring an additional 6,252 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Lithia Motors by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 259,916 shares of the company’s stock worth $82,560,000 after acquiring an additional 37,677 shares during the period. Finally, Bridges Investment Management Inc. lifted its holdings in shares of Lithia Motors by 43.5% during the 3rd quarter. Bridges Investment Management Inc. now owns 230,761 shares of the company’s stock worth $73,299,000 after acquiring an additional 69,901 shares during the period.

Insider Transactions at Lithia Motors

In other news, insider Gary M. Glandon sold 325 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $387.86, for a total transaction of $126,054.50. Following the completion of the sale, the insider now owns 1,665 shares of the company’s stock, valued at approximately $645,786.90. This trade represents a 16.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adam Chamberlain sold 403 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $384.28, for a total transaction of $154,864.84. Following the sale, the chief operating officer now directly owns 2,605 shares of the company’s stock, valued at $1,001,049.40. The trade was a 13.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.79% of the company’s stock.

Lithia Motors Stock Down 5.8 %

Shares of NYSE:LAD opened at $324.51 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.22. Lithia Motors, Inc. has a 52-week low of $243.00 and a 52-week high of $405.67. The company has a 50 day moving average of $360.08 and a two-hundred day moving average of $340.96. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 4.65 and a beta of 1.67.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. As a group, analysts forecast that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, March 7th. Lithia Motors’s dividend payout ratio (DPR) is 7.14%.

Wall Street Analyst Weigh In

LAD has been the topic of several recent analyst reports. StockNews.com upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Tuesday, January 14th. Guggenheim increased their price objective on shares of Lithia Motors from $380.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. increased their target price on shares of Lithia Motors from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Wells Fargo & Company increased their target price on shares of Lithia Motors from $346.00 to $397.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Finally, Benchmark reissued a “buy” rating and set a $400.00 target price on shares of Lithia Motors in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Lithia Motors currently has an average rating of “Moderate Buy” and a consensus target price of $371.36.

Lithia Motors 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.