Van ECK Associates Corp Buys 6,330 Shares of Lithia Motors, Inc. (NYSE:LAD)

Van ECK Associates Corp lifted its position in Lithia Motors, Inc. (NYSE:LAD) by 148.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,604 shares of the company’s stock after acquiring an additional 6,330 shares during the quarter. Van ECK Associates Corp’s holdings in Lithia Motors were worth $3,492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Xponance Inc. grew its position in Lithia Motors by 3.4% in the 3rd quarter. Xponance Inc. now owns 3,454 shares of the company’s stock worth $1,020,000 after purchasing an additional 114 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Lithia Motors by 3.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,746 shares of the company’s stock worth $1,697,000 after purchasing an additional 184 shares during the period. New York State Teachers Retirement System raised its position in shares of Lithia Motors by 0.3% in the third quarter. New York State Teachers Retirement System now owns 37,930 shares of the company’s stock valued at $11,202,000 after purchasing an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lithia Motors by 15.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,481 shares of the company’s stock valued at $1,619,000 after buying an additional 729 shares in the last quarter. Finally, Strs Ohio lifted its stake in shares of Lithia Motors by 42.0% during the 3rd quarter. Strs Ohio now owns 6,354 shares of the company’s stock valued at $1,876,000 after buying an additional 1,878 shares in the last quarter.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 135 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $297.84, for a total transaction of $40,208.40. Following the transaction, the director now owns 1,662 shares of the company’s stock, valued at approximately $495,010.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.79% of the company’s stock.

Analyst Ratings Changes

LAD has been the topic of a number of analyst reports. Evercore ISI began coverage on shares of Lithia Motors in a report on Wednesday, January 17th. They set an “outperform” rating and a $400.00 target price on the stock. Guggenheim dropped their price objective on Lithia Motors from $320.00 to $297.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. StockNews.com raised Lithia Motors from a “sell” rating to a “hold” rating in a report on Friday, April 26th. JPMorgan Chase & Co. lowered their price target on shares of Lithia Motors from $285.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Finally, Craig Hallum cut their price objective on shares of Lithia Motors from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lithia Motors presently has an average rating of “Hold” and a consensus price target of $318.55.

Lithia Motors Stock Performance

Lithia Motors stock opened at $262.33 on Tuesday. Lithia Motors, Inc. has a fifty-two week low of $207.08 and a fifty-two week high of $331.96. The firm’s fifty day moving average price is $279.02 and its 200-day moving average price is $283.17. The stock has a market cap of $7.19 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 2.31 and a beta of 1.59. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.28 and a current ratio of 1.17.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.85 by ($1.74). The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.58 billion. Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period last year, the firm earned $8.44 EPS. On average, equities research analysts expect that Lithia Motors, Inc. will post 32.24 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a dividend yield of 0.81%. Lithia Motors’s dividend payout ratio (DPR) is 5.90%.

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.