Nuveen Asset Management LLC Decreases Stake in Lithia Motors, Inc. (NYSE:LAD)

Nuveen Asset Management LLC reduced its position in Lithia Motors, Inc. (NYSE:LAD) by 10.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,579 shares of the company’s stock after selling 10,538 shares during the period. Nuveen Asset Management LLC’s holdings in Lithia Motors were worth $30,946,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LAD. Atlas Capital Advisors Inc. purchased a new position in shares of Lithia Motors during the 4th quarter valued at approximately $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Lithia Motors during the 4th quarter valued at approximately $35,000. UMB Bank n.a. boosted its stake in shares of Lithia Motors by 69.9% during the 4th quarter. UMB Bank n.a. now owns 124 shares of the company’s stock valued at $44,000 after buying an additional 51 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Lithia Motors by 33.9% during the fourth quarter. V Square Quantitative Management LLC now owns 146 shares of the company’s stock worth $52,000 after purchasing an additional 37 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its position in shares of Lithia Motors by 1,420.0% during the fourth quarter. Rakuten Securities Inc. now owns 152 shares of the company’s stock worth $54,000 after purchasing an additional 142 shares during the last quarter.

Lithia Motors Stock Performance

LAD stock opened at $305.59 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 4.65 and a beta of 1.48. Lithia Motors, Inc. has a 1 year low of $243.04 and a 1 year high of $405.68. The stock’s fifty day moving average is $298.75 and its two-hundred day moving average is $338.81.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share for the quarter, missing analysts’ consensus estimates of $7.77 by ($0.11). The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.19 billion. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $6.11 EPS. On average, research analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, May 9th. This is a boost from Lithia Motors’s previous quarterly dividend of $0.53. Lithia Motors’s payout ratio is 6.93%.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 248 shares of Lithia Motors stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.84, for a total transaction of $72,128.32. Following the sale, the director now directly owns 1,297 shares in the company, valued at $377,219.48. The trade was a 16.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Congdon Stacy Loretz sold 270 shares of Lithia Motors stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total transaction of $80,676.00. Following the sale, the director now owns 1,213 shares in the company, valued at approximately $362,444.40. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 855 shares of company stock worth $252,536 over the last ninety days. 0.87% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. The Goldman Sachs Group reduced their price target on shares of Lithia Motors from $385.00 to $328.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Guggenheim reduced their price target on shares of Lithia Motors from $417.00 to $356.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI raised their price objective on Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price objective on Lithia Motors from $420.00 to $360.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, Benchmark restated a “buy” rating and set a $400.00 price objective on shares of Lithia Motors in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Lithia Motors presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.20.

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.