Wealth Enhancement Advisory Services LLC Invests $248,000 in Lithia Motors, Inc. (NYSE:LAD)

Wealth Enhancement Advisory Services LLC bought a new position in shares of Lithia Motors, Inc. (NYSE:LAD) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 780 shares of the company’s stock, valued at approximately $248,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Lithia Motors by 14.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,700,893 shares of the company’s stock valued at $429,390,000 after acquiring an additional 217,867 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Lithia Motors by 25.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company’s stock worth $256,621,000 after buying an additional 203,543 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Lithia Motors by 7.2% in the first quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company’s stock valued at $218,981,000 after acquiring an additional 48,938 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Lithia Motors by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 260,470 shares of the company’s stock worth $65,756,000 after acquiring an additional 5,390 shares during the period. Finally, Chicago Capital LLC increased its position in shares of Lithia Motors by 1.2% during the 3rd quarter. Chicago Capital LLC now owns 217,102 shares of the company’s stock valued at $68,960,000 after purchasing an additional 2,666 shares during the last quarter.

Lithia Motors Stock Up 3.1 %

NYSE LAD opened at $382.84 on Tuesday. Lithia Motors, Inc. has a 52 week low of $243.00 and a 52 week high of $388.36. The company has a quick ratio of 0.27, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The company has a fifty day moving average of $312.61 and a two-hundred day moving average of $282.34. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 13.07 and a beta of 1.63.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.60 by $0.61. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The business had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.46 billion. During the same quarter in the prior year, the company earned $9.25 EPS. The business’s revenue was up 11.4% compared to the same quarter last year. On average, analysts predict that Lithia Motors, Inc. will post 29.09 earnings per share for the current year.

Lithia Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, November 8th. Lithia Motors’s dividend payout ratio is presently 7.24%.

Insider Activity at Lithia Motors

In other Lithia Motors news, COO Chris Holzshu sold 8,520 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $335.21, for a total transaction of $2,855,989.20. Following the transaction, the chief operating officer now owns 32,054 shares in the company, valued at approximately $10,744,821.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Sidney B. Deboer sold 10,777 shares of Lithia Motors stock in a transaction on 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 completion of the sale, the director now directly owns 35,352 shares of the company’s stock, valued at approximately $9,754,677.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Chris Holzshu sold 8,520 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $335.21, for a total value of $2,855,989.20. Following the transaction, the chief operating officer now directly owns 32,054 shares in the company, valued at approximately $10,744,821.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,235 shares of company stock worth $9,301,973 over the last three months. Company insiders own 1.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Lithia Motors from $299.00 to $343.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Bank of America upped their price target on shares of Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Stephens raised their target price on shares of Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Citigroup lifted their price target on Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Finally, Guggenheim lifted their price target on shares of Lithia Motors from $350.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $353.80.

About Lithia Motors

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.