Lithia Motors, Inc. (NYSE:LAD) Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. raised its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 43.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,761 shares of the company's stock after purchasing an additional 69,901 shares during the period. Lithia Motors comprises 1.0% of Bridges Investment Management Inc.'s investment portfolio, making the stock its 29th biggest position. Bridges Investment Management Inc. owned approximately 0.86% of Lithia Motors worth $73,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in LAD. Cetera Investment Advisers raised its stake in shares of Lithia Motors by 1.3% during the second quarter. Cetera Investment Advisers now owns 3,862 shares of the company's stock worth $975,000 after purchasing an additional 48 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Lithia Motors by 23.9% in the 3rd quarter. Signaturefd LLC now owns 249 shares of the company's stock worth $79,000 after acquiring an additional 48 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Lithia Motors by 12.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company's stock valued at $116,000 after acquiring an additional 52 shares in the last quarter. Blue Trust Inc. raised its holdings in Lithia Motors by 83.6% during the second quarter. Blue Trust Inc. now owns 134 shares of the company's stock worth $34,000 after purchasing an additional 61 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Lithia Motors by 13.3% in the first quarter. EverSource Wealth Advisors LLC now owns 554 shares of the company's stock valued at $167,000 after purchasing an additional 65 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LAD shares. The Goldman Sachs Group increased their target price on Lithia Motors from $300.00 to $335.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Citigroup boosted their target price on shares of Lithia Motors from $280.00 to $320.00 and gave the stock a "neutral" rating in a research report on Friday, September 27th. Wells Fargo & Company raised their price objective on shares of Lithia Motors from $299.00 to $343.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Guggenheim lifted their price target on shares of Lithia Motors from $350.00 to $380.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price target on Lithia Motors from $375.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $353.80.

Lithia Motors Price Performance

NYSE:LAD traded up $2.87 during trading hours on Friday, reaching $371.36. 192,110 shares of the company traded hands, compared to its average volume of 296,044. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.27. The firm's 50-day moving average is $310.97 and its 200-day moving average is $281.11. The stock has a market cap of $9.89 billion, a P/E ratio of 12.68 and a beta of 1.63. Lithia Motors, Inc. has a 1-year low of $243.00 and a 1-year high of $375.15.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, beating analysts' consensus estimates of $7.60 by $0.61. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The business had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.46 billion. During the same quarter last year, the company earned $9.25 earnings per share. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts expect that Lithia Motors, Inc. will post 28.99 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, November 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.57%. Lithia Motors's dividend payout ratio (DPR) is presently 7.24%.

Insider Activity

In other Lithia Motors news, Director Sidney B. Deboer sold 10,777 shares of Lithia Motors stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the completion of the sale, the director now directly owns 35,352 shares of the company's stock, valued at approximately $9,754,677.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lithia Motors news, Director Sidney B. Deboer sold 10,777 shares of Lithia Motors stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $275.93, for a total value of $2,973,697.61. Following the completion of the sale, the director now owns 35,352 shares in the company, valued at $9,754,677.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sidney B. Deboer sold 11,938 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the transaction, the director now owns 46,129 shares in the company, valued at approximately $13,417,080.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,235 shares of company stock valued at $9,301,973 over the last 90 days. Insiders own 1.79% of the company's stock.

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.