Truist Financial Corp Sells 12,397 Shares of Lithia Motors, Inc. $LAD

Truist Financial Corp lowered its stake in Lithia Motors, Inc. (NYSE:LAD) by 60.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,103 shares of the company’s stock after selling 12,397 shares during the quarter. Truist Financial Corp’s holdings in Lithia Motors were worth $2,693,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of LAD. CoreCap Advisors LLC acquired a new position in Lithia Motors during the third quarter worth $26,000. Eastern Bank acquired a new stake in Lithia Motors in the 3rd quarter valued at $31,000. Root Financial Partners LLC bought a new stake in Lithia Motors during the 3rd quarter worth about $31,000. Parkside Financial Bank & Trust lifted its position in Lithia Motors by 75.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 105 shares of the company’s stock worth $33,000 after buying an additional 45 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in Lithia Motors during the 4th quarter worth about $34,000.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Lithia Motors from $293.00 to $305.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Wall Street Zen cut shares of Lithia Motors from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. JPMorgan Chase & Co. boosted their price target on shares of Lithia Motors from $320.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Barclays cut their price target on shares of Lithia Motors from $380.00 to $370.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Finally, Bank of America cut their price target on shares of Lithia Motors from $335.00 to $320.00 in a research report on Monday, April 13th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $367.22.

Insider Buying and Selling at Lithia Motors

In other news, Director Shauna Mcintyre sold 245 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $294.64, for a total value of $72,186.80. Following the transaction, the director directly owned 1,846 shares of the company’s stock, valued at $543,905.44. This represents a 11.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.08% of the stock is owned by insiders.

Lithia Motors Stock Performance

NYSE LAD opened at $276.50 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.24 and a debt-to-equity ratio of 1.41. The firm’s fifty day moving average price is $267.58 and its two-hundred day moving average price is $301.68. Lithia Motors, Inc. has a 1 year low of $239.78 and a 1 year high of $360.55. The firm has a market capitalization of $6.31 billion, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 0.63 and a beta of 1.28.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $7.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.28. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. The firm had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the firm posted $7.66 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Lithia Motors, Inc. will post 34.44 EPS for the current year.

Lithia Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, May 8th. This is a boost from Lithia Motors’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 0.8%. Lithia Motors’s payout ratio is currently 8.01%.

Lithia Motors Company Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.