KLP Kapitalforvaltning AS Buys New Position in Lithia Motors, Inc. (NYSE:LAD)

KLP Kapitalforvaltning AS bought a new position in Lithia Motors, Inc. (NYSE:LAD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,600 shares of the company’s stock, valued at approximately $2,002,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of Lithia Motors during the 4th quarter worth approximately $35,000. UMB Bank n.a. boosted its stake in Lithia Motors by 69.9% during the fourth quarter. UMB Bank n.a. now owns 124 shares of the company’s stock worth $44,000 after acquiring an additional 51 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Lithia Motors by 33.9% in 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 period. Rakuten Securities Inc. increased its stake in Lithia Motors by 1,420.0% in the fourth quarter. Rakuten Securities Inc. now owns 152 shares of the company’s stock valued at $54,000 after purchasing an additional 142 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Lithia Motors by 30.5% during the fourth quarter. GAMMA Investing LLC now owns 167 shares of the company’s stock valued at $60,000 after purchasing an additional 39 shares during the period.

Insider Buying and Selling

In other Lithia Motors news, insider Gary M. Glandon sold 325 shares of Lithia Motors stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $387.86, for a total value of $126,054.50. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Adam Chamberlain sold 403 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $384.28, for a total transaction of $154,864.84. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,246 shares of company stock worth $433,724. 0.87% of the stock is owned by company insiders.

Lithia Motors Price Performance

LAD opened at $295.60 on Friday. Lithia Motors, Inc. has a 1 year low of $243.00 and a 1 year high of $405.68. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 4.65 and a beta of 1.69. The firm’s fifty day moving average price is $341.41 and its two-hundred day moving average price is $342.10.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $7.79 earnings per share 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, analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.53 per share. The ex-dividend date was Friday, March 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.72%. Lithia Motors’s dividend payout ratio (DPR) is currently 7.14%.

Wall Street Analysts Forecast Growth

LAD has been the subject of several research reports. Evercore ISI raised their target price on Lithia Motors from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Benchmark reissued a “buy” rating and issued a $400.00 price objective on shares of Lithia Motors in a research note on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price on Lithia Motors from $420.00 to $360.00 and set an “overweight” rating on the stock in a research report on Thursday. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company upped their price objective on shares of Lithia Motors from $346.00 to $397.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Lithia Motors has an average rating of “Moderate Buy” and an average target price of $365.91.

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.