Fulton Bank N.A. Raises Stock Position in Lithia Motors, Inc. (NYSE:LAD)

Fulton Bank N.A. lifted its stake in Lithia Motors, Inc. (NYSE:LAD) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,358 shares of the company’s stock after buying an additional 134 shares during the period. Fulton Bank N.A.’s holdings in Lithia Motors were worth $1,021,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Toroso Investments LLC purchased a new stake in Lithia Motors during the 1st quarter worth $638,000. Arete Wealth Advisors LLC acquired a new stake in Lithia Motors in the first quarter valued at $477,000. JPMorgan Chase & Co. increased its position in shares of Lithia Motors by 6.9% in the 1st quarter. JPMorgan Chase & Co. now owns 266,238 shares of the company’s stock worth $60,950,000 after purchasing an additional 17,255 shares during the last quarter. Long Focus Capital Management LLC bought a new stake in Lithia Motors in the first quarter valued at about $4,579,000. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Lithia Motors by 1.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 103,942 shares of the company’s stock valued at $23,795,000 after acquiring an additional 1,495 shares during the last quarter.

Lithia Motors Price Performance

Shares of NYSE:LAD opened at $305.36 on Friday. The company has a market cap of $8.42 billion, a P/E ratio of 7.63, a price-to-earnings-growth ratio of 2.57 and a beta of 1.47. The company’s fifty day moving average is $306.83 and its two-hundred day moving average is $263.58. The company has a quick ratio of 0.30, a current ratio of 1.36 and a debt-to-equity ratio of 1.15. Lithia Motors, Inc. has a 12-month low of $180.00 and a 12-month high of $329.00.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $10.91 EPS for the quarter, topping analysts’ consensus estimates of $9.26 by $1.65. The firm had revenue of $8.11 billion during the quarter, compared to analyst estimates of $7.92 billion. Lithia Motors had a return on equity of 20.36% and a net margin of 3.76%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $12.18 EPS. Equities analysts expect that Lithia Motors, Inc. will post 37.98 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were given a $0.50 dividend. The ex-dividend date was Thursday, August 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.65%. Lithia Motors’s dividend payout ratio is 5.00%.

Insider Activity at Lithia Motors

In related news, insider David Stork sold 325 shares of Lithia Motors stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $312.75, for a total transaction of $101,643.75. Following the sale, the insider now directly owns 3,355 shares of the company’s stock, valued at $1,049,276.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Shauna Mcintyre sold 164 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $299.00, for a total value of $49,036.00. Following the sale, the director now owns 1,887 shares of the company’s stock, valued at approximately $564,213. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David Stork sold 325 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $312.75, for a total transaction of $101,643.75. Following the sale, the insider now owns 3,355 shares of the company’s stock, valued at approximately $1,049,276.25. The disclosure for this sale can be found here. Insiders sold a total of 43,131 shares of company stock worth $13,303,956 in the last ninety days. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

LAD has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on Lithia Motors from $305.00 to $348.00 and gave the company a “neutral” rating in a research note on Wednesday, July 26th. Wells Fargo & Company upped their target price on shares of Lithia Motors from $219.00 to $318.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 18th. Morgan Stanley lifted their price target on Lithia Motors from $198.00 to $220.00 and gave the company an “underweight” rating in a report on Wednesday, August 9th. Benchmark increased their price objective on Lithia Motors from $300.00 to $375.00 in a report on Thursday, July 27th. Finally, Bank of America boosted their price target on Lithia Motors from $350.00 to $430.00 in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $338.10.

Lithia Motors Company Profile

Lithia Motors, Inc operates as an automotive retailer. The company operates through Domestic, Import, and Luxury segments. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells body and parts for the new vehicles under the Driveway and GreenCars brand names.