Lithia Motors, Inc. (NYSE:LAD) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of Lithia Motors, Inc. (NYSE:LAD) by 85.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,410 shares of the company’s stock after selling 8,492 shares during the quarter. Truist Financial Corp’s holdings in Lithia Motors were worth $356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Lithia Motors by 23.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,767 shares of the company’s stock worth $2,217,000 after acquiring an additional 1,688 shares in the last quarter. Algert Global LLC boosted its position in shares of Lithia Motors by 257.0% during the 2nd quarter. Algert Global LLC now owns 21,493 shares of the company’s stock worth $5,426,000 after acquiring an additional 15,473 shares in the last quarter. Scientech Research LLC boosted its position in shares of Lithia Motors by 41.6% during the 2nd quarter. Scientech Research LLC now owns 1,364 shares of the company’s stock worth $344,000 after acquiring an additional 401 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Lithia Motors during the 2nd quarter worth about $211,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Lithia Motors by 19.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 166,755 shares of the company’s stock worth $42,097,000 after acquiring an additional 27,211 shares in the last quarter.

Lithia Motors Stock Performance

LAD opened at $315.37 on Friday. The stock has a market cap of $8.64 billion, a P/E ratio of 9.31, a P/E/G ratio of 0.30 and a beta of 1.64. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.19 and a quick ratio of 0.30. The stock’s 50 day simple moving average is $295.45 and its 200 day simple moving average is $273.59. Lithia Motors, Inc. has a 1-year low of $231.36 and a 1-year high of $331.96.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Thursday, August 1st. The company reported $7.87 earnings per share for the quarter, topping analysts’ consensus estimates of $7.09 by $0.78. The business had revenue of $9.23 billion for 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 company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.91 EPS. As a group, equities analysts anticipate that Lithia Motors, Inc. will post 28.74 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Friday, August 9th. Lithia Motors’s dividend payout ratio (DPR) is presently 6.26%.

Analysts Set New Price Targets

A number of analysts recently issued reports on LAD shares. The Goldman Sachs Group upped their target price on Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Bank of America upped their target price on Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley raised Lithia Motors from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $225.00 to $310.00 in a research report on Wednesday, September 25th. Guggenheim raised Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 target price for the company in a research report on Friday, August 9th. Finally, Stephens started coverage on Lithia Motors in a research report on Thursday, September 12th. They issued an “overweight” rating and a $360.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Lithia Motors currently has an average rating of “Hold” and a consensus target price of $337.70.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 306 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total transaction of $88,632.90. Following the sale, the director now owns 1,922 shares in the company, valued at approximately $556,707.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Shauna Mcintyre sold 306 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total transaction of $88,632.90. Following the sale, the director now owns 1,922 shares in the company, valued at $556,707.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sidney B. Deboer sold 11,938 shares of the firm’s stock in a transaction 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 owns 46,129 shares in the company, valued at $13,417,080.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,021 shares of company stock worth $6,534,617. 1.79% of the stock is owned by 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.