California Public Employees Retirement System Boosts Stake in Lithia Motors Inc (LAD)

California Public Employees Retirement System grew its holdings in shares of Lithia Motors Inc (NYSE:LAD) by 5.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,032 shares of the company’s stock after purchasing an additional 1,532 shares during the period. California Public Employees Retirement System owned approximately 0.12% of Lithia Motors worth $3,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Lithia Motors by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,097,189 shares of the company’s stock valued at $197,618,000 after purchasing an additional 56,888 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Lithia Motors by 23.7% during the 3rd quarter. Victory Capital Management Inc. now owns 1,182,723 shares of the company’s stock valued at $142,294,000 after purchasing an additional 226,940 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Lithia Motors by 4.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 977,749 shares of the company’s stock valued at $117,631,000 after purchasing an additional 42,944 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Lithia Motors by 5.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 723,495 shares of the company’s stock valued at $68,175,000 after purchasing an additional 39,692 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Lithia Motors by 2.7% during the 2nd quarter. State Street Corp now owns 631,341 shares of the company’s stock valued at $59,494,000 after purchasing an additional 16,496 shares in the last quarter. Institutional investors own 98.47% of the company’s stock.

Shares of Lithia Motors Inc (NYSE:LAD) opened at $124.48 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.26 and a current ratio of 1.21. Lithia Motors Inc has a 52 week low of $80.88 and a 52 week high of $124.96. The company has a market cap of $3,070.08, a PE ratio of 15.19, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.19). Lithia Motors had a net margin of 2.14% and a return on equity of 21.02%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the company posted $2.06 earnings per share. Lithia Motors’s quarterly revenue was up 18.7% compared to the same quarter last year. equities research analysts predict that Lithia Motors Inc will post 8.34 EPS for the current fiscal year.

Several research firms have recently weighed in on LAD. Bank of America upgraded shares of Lithia Motors from an “underperform” rating to a “neutral” rating and set a $128.00 price objective for the company in a research report on Monday, January 8th. Zacks Investment Research upgraded shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $139.00 price objective for the company in a research report on Wednesday. KeyCorp restated a “buy” rating and set a $130.00 price objective (up previously from $119.00) on shares of Lithia Motors in a research report on Wednesday, October 4th. Finally, Berenberg Bank initiated coverage on shares of Lithia Motors in a research note on Wednesday, October 4th. They set a “hold” rating and a $126.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $124.00.

In other news, Director Kenneth E. Roberts sold 534 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $122.62, for a total value of $65,479.08. Following the completion of the sale, the director now directly owns 115,064 shares of the company’s stock, valued at $14,109,147.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth E. Roberts sold 5,000 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $124.00, for a total transaction of $620,000.00. Following the completion of the sale, the director now directly owns 110,064 shares of the company’s stock, valued at $13,647,936. The disclosure for this sale can be found here. Insiders have sold 10,718 shares of company stock valued at $1,275,932 over the last ninety days. Insiders own 7.85% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another publication, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://ledgergazette.com/2018/01/13/california-public-employees-retirement-system-boosts-stake-in-lithia-motors-inc-lad.html.

Lithia Motors Company Profile

Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.

Want to see what other hedge funds are holding LAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lithia Motors Inc (NYSE:LAD).

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

Receive News & Ratings for Lithia Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithia Motors and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply