Federated Hermes Inc. Decreases Stake in Lithia Motors, Inc. (NYSE:LAD)

Federated Hermes Inc. lessened its stake in Lithia Motors, Inc. (NYSE:LAD) by 12.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,744 shares of the company’s stock after selling 373 shares during the quarter. Federated Hermes Inc.’s holdings in Lithia Motors were worth $904,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in LAD. Denali Advisors LLC raised its position in shares of Lithia Motors by 5,050.0% during the 4th quarter. Denali Advisors LLC now owns 103 shares of the company’s stock worth $34,000 after acquiring an additional 101 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Lithia Motors during the 3rd quarter worth about $32,000. JFS Wealth Advisors LLC raised its position in shares of Lithia Motors by 509.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 128 shares of the company’s stock worth $38,000 after acquiring an additional 107 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Lithia Motors by 32.0% during the 3rd quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock worth $68,000 after acquiring an additional 56 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Lithia Motors by 52.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 380 shares of the company’s stock worth $112,000 after acquiring an additional 130 shares in the last quarter.

Lithia Motors Trading Down 0.2 %

NYSE:LAD opened at $253.99 on Thursday. The firm has a market cap of $6.99 billion, a P/E ratio of 7.50, a PEG ratio of 2.32 and a beta of 1.58. The company has a current ratio of 1.17, a quick ratio of 0.28 and a debt-to-equity ratio of 1.17. The stock’s 50 day simple moving average is $280.91 and its 200-day simple moving average is $283.35. Lithia Motors, Inc. has a 12-month low of $206.69 and a 12-month high of $331.96.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.58 billion. Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm posted $8.44 EPS. Equities analysts anticipate that Lithia Motors, Inc. will post 33.17 EPS for the current year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.53 dividend. The ex-dividend date is Thursday, May 9th. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. Lithia Motors’s payout ratio is 5.90%.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 138 shares of Lithia Motors stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total value of $35,109.96. Following the sale, the director now directly owns 2,228 shares in the company, valued at $566,847.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LAD shares. Evercore ISI started coverage on Lithia Motors in a research report on Wednesday, January 17th. They set an “outperform” rating and a $400.00 target price on the stock. Guggenheim cut their price target on Lithia Motors from $320.00 to $297.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Citigroup cut their price target on Lithia Motors from $320.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company cut their price target on Lithia Motors from $290.00 to $248.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Finally, Craig Hallum cut their price target on Lithia Motors from $350.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $320.82.

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.