Texas Permanent School Fund Corp Acquires 3,449 Shares of Lithia Motors, Inc. $LAD

Texas Permanent School Fund Corp raised its holdings in Lithia Motors, Inc. (NYSE:LAD) by 16.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 24,835 shares of the company’s stock after acquiring an additional 3,449 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.10% of Lithia Motors worth $8,390,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in Lithia Motors by 114.6% in the second quarter. Bessemer Group Inc. now owns 88 shares of the company’s stock valued at $29,000 after purchasing an additional 47 shares during the period. Hantz Financial Services Inc. lifted its holdings in Lithia Motors by 1,383.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 89 shares of the company’s stock worth $30,000 after buying an additional 83 shares during the period. Parallel Advisors LLC grew its position in shares of Lithia Motors by 106.2% in the 2nd quarter. Parallel Advisors LLC now owns 134 shares of the company’s stock valued at $45,000 after buying an additional 69 shares during the last quarter. eCIO Inc. acquired a new stake in shares of Lithia Motors in the first quarter valued at about $55,000. Finally, State of Wyoming bought a new position in shares of Lithia Motors during the second quarter worth about $67,000.

Lithia Motors Trading Up 0.6%

NYSE:LAD opened at $346.59 on Tuesday. Lithia Motors, Inc. has a 12 month low of $262.10 and a 12 month 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 stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.70 and a beta of 1.18. The firm has a fifty day simple moving average of $312.24 and a two-hundred day simple moving average of $320.00.

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

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

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 7th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, November 7th. Lithia Motors’s dividend payout ratio (DPR) is 6.37%.

Insider Activity at Lithia Motors

In other news, Director Congdon Stacy Loretz sold 75 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $360.00, for a total transaction of $27,000.00. Following the transaction, the director directly owned 1,810 shares of the company’s stock, valued at $651,600. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays began coverage on shares of Lithia Motors in a report on Wednesday, November 12th. They set an “overweight” rating and a $410.00 price target for the company. Bank of America decreased their price objective on shares of Lithia Motors from $500.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Evercore ISI boosted their target price on shares of Lithia Motors from $440.00 to $500.00 and gave the company an “outperform” rating in a report on Monday, November 24th. Jefferies Financial Group started coverage on Lithia Motors in a report on Thursday, September 4th. They set a “buy” rating and a $400.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on Lithia Motors from $317.00 to $327.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $389.10.

About Lithia Motors

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.