Texas Permanent School Fund lessened its holdings in shares of Lithia Motors Inc (NYSE:LAD) by 5.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,601 shares of the company’s stock after selling 854 shares during the quarter. Texas Permanent School Fund owned about 0.06% of Lithia Motors worth $1,192,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Janney Montgomery Scott LLC boosted its position in Lithia Motors by 15.3% during the second quarter. Janney Montgomery Scott LLC now owns 6,920 shares of the company’s stock worth $654,000 after purchasing an additional 920 shares during the period. Rothschild Asset Management Inc. boosted its position in Lithia Motors by 0.5% during the second quarter. Rothschild Asset Management Inc. now owns 223,127 shares of the company’s stock worth $21,101,000 after purchasing an additional 1,194 shares during the period. Xact Kapitalforvaltning AB boosted its position in Lithia Motors by 37.0% during the second quarter. Xact Kapitalforvaltning AB now owns 5,558 shares of the company’s stock worth $526,000 after purchasing an additional 1,500 shares during the period. Sei Investments Co. boosted its position in Lithia Motors by 3.6% during the second quarter. Sei Investments Co. now owns 47,216 shares of the company’s stock worth $4,465,000 after purchasing an additional 1,653 shares during the period. Finally, Point72 Hong Kong Ltd boosted its position in Lithia Motors by 293.9% during the second quarter. Point72 Hong Kong Ltd now owns 2,265 shares of the company’s stock worth $214,000 after purchasing an additional 1,690 shares during the period.

LAD stock opened at $82.87 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.20 and a quick ratio of 0.23. Lithia Motors Inc has a 12 month low of $72.85 and a 12 month high of $127.99. The company has a market capitalization of $2.00 billion, a PE ratio of 9.88, a PEG ratio of 0.76 and a beta of 1.38.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, October 24th. The company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.30. Lithia Motors had a net margin of 2.56% and a return on equity of 20.75%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same period last year, the business earned $2.18 earnings per share. Lithia Motors’s revenue was up 15.4% compared to the same quarter last year. Equities research analysts predict that Lithia Motors Inc will post 9.6 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.40%. Lithia Motors’s dividend payout ratio (DPR) is currently 13.83%.

LAD has been the subject of a number of research reports. Wolfe Research initiated coverage on shares of Lithia Motors in a research report on Tuesday, October 2nd. They set a “peer perform” rating for the company. Guggenheim upgraded shares of Lithia Motors from a “neutral” rating to a “buy” rating in a research report on Friday, September 21st. TheStreet lowered shares of Lithia Motors from a “b-” rating to a “c+” rating in a research report on Friday, September 21st. Craig Hallum restated a “buy” rating on shares of Lithia Motors in a research report on Thursday, September 13th. Finally, Morgan Stanley cut their price objective on shares of Lithia Motors from $126.00 to $107.00 and set a “buy” rating for the company in a research report on Wednesday, August 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $106.50.

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About Lithia Motors

Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.

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Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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