Bridges Investment Management Inc. Has $82.18 Million Stock Position in Lithia Motors, Inc. (NYSE:LAD)

Bridges Investment Management Inc. reduced its stake in Lithia Motors, Inc. (NYSE:LAD) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 229,920 shares of the company’s stock after selling 841 shares during the quarter. Lithia Motors comprises 1.1% of Bridges Investment Management Inc.’s holdings, making the stock its 27th largest holding. Bridges Investment Management Inc. owned about 0.86% of Lithia Motors worth $82,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in LAD. Wedge Capital Management L L P NC acquired a new position in shares of Lithia Motors in the fourth quarter worth approximately $46,505,000. Verition Fund Management LLC lifted its stake in shares of Lithia Motors by 1,960.2% in the third quarter. Verition Fund Management LLC now owns 126,909 shares of the company’s stock worth $40,311,000 after acquiring an additional 120,749 shares during the period. HITE Hedge Asset Management LLC lifted its stake in shares of Lithia Motors by 5,233.4% in the third quarter. HITE Hedge Asset Management LLC now owns 107,629 shares of the company’s stock worth $34,187,000 after acquiring an additional 105,611 shares during the period. FMR LLC lifted its stake in shares of Lithia Motors by 12.8% in the third 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. Finally, Natixis Advisors LLC acquired a new position in shares of Lithia Motors in the third quarter worth approximately $26,071,000.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LAD. Wells Fargo & Company lifted their target price on Lithia Motors from $346.00 to $397.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Benchmark reiterated a “buy” rating and issued a $400.00 target price on shares of Lithia Motors in a report on Thursday, February 20th. Guggenheim lifted their target price on 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. lifted their target price on Lithia Motors from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Evercore ISI lifted their target price on Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Lithia Motors currently has a consensus rating of “Moderate Buy” and a consensus target price of $371.36.

Lithia Motors Trading Down 0.1 %

NYSE LAD opened at $344.10 on Friday. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 4.65 and a beta of 1.67. Lithia Motors, Inc. has a 52 week low of $243.00 and a 52 week high of $405.67. The business has a 50 day moving average price of $360.08 and a 200-day moving average price of $340.54. 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 (NYSE:LAD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.33 by $0.46. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. As a group, equities analysts expect that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Friday, March 7th. Lithia Motors’s payout ratio is currently 7.14%.

Insider Activity at Lithia Motors

In other Lithia Motors news, COO Adam Chamberlain sold 403 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $384.28, for a total value of $154,864.84. Following the completion of the transaction, the chief operating officer now owns 2,605 shares in the company, valued at $1,001,049.40. This represents a 13.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary M. Glandon sold 325 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $387.86, for a total value of $126,054.50. Following the completion of the transaction, the insider now owns 1,665 shares of the company’s stock, valued at $645,786.90. This trade represents a 16.33 % decrease in their position. The disclosure for this sale can be found here. 1.79% of the stock is currently owned by insiders.

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.