Prudential Financial Inc. Boosts Stake in Lithia Motors, Inc. $LAD

Prudential Financial Inc. raised its holdings in Lithia Motors, Inc. (NYSE:LAD) by 95.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,495 shares of the company’s stock after acquiring an additional 3,178 shares during the period. Prudential Financial Inc.’s holdings in Lithia Motors were worth $2,375,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Bessemer Group Inc. increased its position in shares of Lithia Motors by 114.6% in the second quarter. Bessemer Group Inc. now owns 88 shares of the company’s stock worth $29,000 after purchasing an additional 47 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Lithia Motors by 1,383.3% during the second quarter. Hantz Financial Services Inc. now owns 89 shares of the company’s stock valued at $30,000 after purchasing an additional 83 shares during the last quarter. Parallel Advisors LLC grew its stake in Lithia Motors by 106.2% in the 2nd quarter. Parallel Advisors LLC now owns 134 shares of the company’s stock worth $45,000 after buying an additional 69 shares in the last quarter. eCIO Inc. bought a new position in shares of Lithia Motors in the 1st quarter worth $55,000. Finally, UMB Bank n.a. increased its holdings in shares of Lithia Motors by 29.1% in the 2nd quarter. UMB Bank n.a. now owns 262 shares of the company’s stock worth $89,000 after buying an additional 59 shares during the last quarter.

Lithia Motors Stock Performance

Lithia Motors stock opened at $324.80 on Friday. Lithia Motors, Inc. has a 1-year low of $262.10 and a 1-year high of $405.14. The company has a current ratio of 1.21, a quick ratio of 0.30 and a debt-to-equity ratio of 1.35. The firm has a 50-day moving average of $309.22 and a 200-day moving average of $318.57. The firm has a market cap of $7.88 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.66 and a beta of 1.18.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, October 22nd. The company reported $9.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.97. The firm had revenue of $9.68 billion for the quarter, compared to analysts’ expectations of $9.38 billion. Lithia Motors had a return on equity of 13.42% and a net margin of 2.39%.The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.21 earnings per share. Sell-side analysts expect that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 26th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Lithia Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 7th were issued a $0.55 dividend. The ex-dividend date was Friday, November 7th. This represents a $2.20 annualized dividend and a yield of 0.7%. Lithia Motors’s dividend payout ratio is 6.37%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LAD shares. Benchmark reiterated a “buy” rating on shares of Lithia Motors in a research report on Thursday, October 23rd. Wells Fargo & Company upped their price objective on Lithia Motors from $317.00 to $327.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Jefferies Financial Group initiated coverage on Lithia Motors in a report on Thursday, September 4th. They set a “buy” rating and a $400.00 price objective on the stock. Weiss Ratings lowered Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, Bank of America decreased their price target on shares of Lithia Motors from $500.00 to $385.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $389.10.

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.