Nisa Investment Advisors LLC Cuts Stock Position in Lithia Motors, Inc. (NYSE:LAD) (2024)

Nisa Investment Advisors LLC lessened its holdings in Lithia Motors, Inc. (NYSE:LAD – Free Report) by 52.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,136 shares of the company’s stock after selling 1,250 shares during the period. Nisa Investment Advisors LLC’s holdings in Lithia Motors were worth $287,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Lithia Motors by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,823,369 shares of the company’s stock valued at $929,679,000 after purchasing an additional 15,962 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Lithia Motors by 7.2% during the first quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company’s stock valued at $218,981,000 after purchasing an additional 48,938 shares in the last quarter. Norges Bank purchased a new position in shares of Lithia Motors during the fourth quarter valued at about $123,976,000. Cadian Capital Management LP purchased a new position in shares of Lithia Motors during the fourth quarter valued at about $105,370,000. Finally, Eventide Asset Management LLC grew its position in shares of Lithia Motors by 8.2% during the fourth quarter. Eventide Asset Management LLC now owns 267,877 shares of the company’s stock valued at $88,207,000 after purchasing an additional 20,363 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LAD shares. Guggenheim upgraded Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 price objective for the company in a research report on Friday, August 9th. StockNews.com lowered Lithia Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. The Goldman Sachs Group increased their price target on shares of Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of Lithia Motors from $280.00 to $315.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Finally, Bank of America increased their price target on shares of Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Lithia Motors presently has an average rating of “Hold” and a consensus price target of $321.50.

Read Our Latest Stock Report on Lithia Motors

Lithia Motors Stock Up 4.9 %

Shares of NYSE LAD opened at $297.61 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.19 and a quick ratio of 0.28. The company has a market cap of $8.16 billion, a P/E ratio of 8.79, a PEG ratio of 3.59 and a beta of 1.63. Lithia Motors, Inc. has a 1 year low of $231.36 and a 1 year high of $331.96. The firm has a 50-day simple moving average of $265.56 and a two-hundred day simple moving average of $272.18.

Lithia Motors (NYSE:LAD – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $7.87 earnings per share for the quarter, beating the consensus estimate of $7.09 by $0.78. Lithia Motors had a net margin of 2.52% and a return on equity of 13.81%. The firm had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the firm posted $10.91 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. Research analysts anticipate that Lithia Motors, Inc. will post 27.62 earnings per share for the current year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, August 9th. Lithia Motors’s dividend payout ratio is presently 6.26%.

Insider Activity

In other news, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the completion of the sale, the director now owns 46,129 shares of the company’s stock, valued at $13,417,080.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Shauna Mcintyre sold 306 shares of Lithia Motors stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total transaction of $88,632.90. Following the transaction, the director now directly owns 1,922 shares of the company’s stock, valued at $556,707.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the transaction, the director now directly owns 46,129 shares in the company, valued at $13,417,080.94. The disclosure for this sale can be found here. Insiders own 1.79% of the company’s stock.

Lithia Motors Company Profile

(Free Report)

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.

Featured Stories

• Five stocks we like better than Lithia Motors
• 5 discounted opportunities for dividend growth investors
• CAVA Stock Rallies as Earnings Confirm It’s a Top Growth Play
• What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
• MarketBeat Week in Review – 8/19 – 8/23
• Stock Trading Terms – Stock Terms Every Investor Needs to Know
• 3 High Short-Interest Stocks Poised for a Rate Cut Squeeze

Receive News & Ratings for Lithia Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithia Motors and related companies with MarketBeat.com's FREE daily email newsletter.