QRG Capital Management Inc. Lowers Holdings in Lithia Motors, Inc. (NYSE:LAD)

QRG Capital Management Inc. lowered its stake in shares of Lithia Motors, Inc. (NYSE:LAD) by 7.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,919 shares of the company’s stock after selling 152 shares during the period. QRG Capital Management Inc.’s holdings in Lithia Motors were worth $686,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wedge Capital Management L L P NC acquired a new stake in Lithia Motors during the fourth quarter worth about $46,505,000. Verition Fund Management LLC boosted its position in Lithia Motors by 1,960.2% in the 3rd quarter. Verition Fund Management LLC now owns 126,909 shares of the company’s stock worth $40,311,000 after purchasing an additional 120,749 shares in the last quarter. HITE Hedge Asset Management LLC grew its stake in shares of Lithia Motors by 5,233.4% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 107,629 shares of the company’s stock worth $34,187,000 after purchasing an additional 105,611 shares during the period. FMR LLC increased its holdings in shares of Lithia Motors by 12.8% during the 3rd quarter. FMR LLC now owns 753,067 shares of the company’s stock valued at $239,204,000 after purchasing an additional 85,579 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new position in shares of Lithia Motors in the 3rd quarter valued at $26,071,000.

Lithia Motors Stock Performance

Shares of NYSE:LAD opened at $317.96 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. Lithia Motors, Inc. has a 1 year low of $243.00 and a 1 year high of $405.67. The firm has a market capitalization of $8.36 billion, a PE ratio of 10.71, a P/E/G ratio of 4.65 and a beta of 1.67. The business’s 50 day moving average price is $359.36 and its 200-day moving average price is $341.18.

Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, February 12th. The company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. As a group, equities research analysts expect that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $2.12 annualized dividend and a yield of 0.67%. Lithia Motors’s dividend payout ratio is presently 7.14%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Guggenheim raised their price target on shares of Lithia Motors from $380.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. StockNews.com upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price target on Lithia Motors from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Evercore ISI increased their price target on Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company boosted their price objective on Lithia Motors from $346.00 to $397.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Lithia Motors presently has an average rating of “Moderate Buy” and an average target price of $371.36.

Insider Buying and Selling at Lithia Motors

In other news, insider Gary M. Glandon sold 325 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $387.86, for a total transaction of $126,054.50. Following the transaction, the insider now owns 1,665 shares of the company’s stock, valued at approximately $645,786.90. The trade was a 16.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Adam Chamberlain sold 403 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $384.28, for a total transaction of $154,864.84. Following the completion of the sale, the chief operating officer now directly owns 2,605 shares of the company’s stock, valued at $1,001,049.40. This represents a 13.40 % decrease in their position. The disclosure for this sale can be found here. 1.79% of the stock is owned by insiders.

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.