Canada Pension Plan Investment Board Trims Position in Lithia Motors, Inc. (NYSE:LAD)

Canada Pension Plan Investment Board lessened its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 14.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 578,411 shares of the company's stock after selling 101,300 shares during the period. Canada Pension Plan Investment Board owned 2.17% of Lithia Motors worth $206,741,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Lithia Motors in the 4th quarter valued at $152,752,000. Egerton Capital UK LLP bought a new stake in Lithia Motors in the 4th quarter valued at about $113,250,000. Madison Investment Advisors LLC acquired a new position in Lithia Motors during the 4th quarter worth approximately $91,190,000. Wedge Capital Management L L P NC acquired a new stake in Lithia Motors in the fourth quarter valued at approximately $46,505,000. Finally, Royal London Asset Management Ltd. raised its position in shares of Lithia Motors by 18.0% during the fourth quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company's stock worth $129,398,000 after purchasing an additional 55,142 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Benchmark restated a "buy" rating and set a $400.00 price target on shares of Lithia Motors in a research note on Thursday, February 20th. Evercore ISI upped their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. cut their price target on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Wells Fargo & Company dropped their target price on Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, StockNews.com upgraded Lithia Motors from a "sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $357.82.

Lithia Motors Trading Down 1.5 %

NYSE:LAD traded down $4.19 during trading hours on Monday, reaching $284.36. The company's stock had a trading volume of 279,919 shares, compared to its average volume of 312,500. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19. Lithia Motors, Inc. has a 1 year low of $243.00 and a 1 year high of $405.68. The firm has a 50-day simple moving average of $314.33 and a 200-day simple moving average of $341.60. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 4.65 and a beta of 1.61.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $7.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. Research analysts expect that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Friday, March 7th. Lithia Motors's dividend payout ratio (DPR) is 7.14%.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, insider Gary M. Glandon sold 325 shares of Lithia Motors stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $387.86, for a total value of $126,054.50. Following the completion of the sale, the insider now owns 1,665 shares of the company's stock, valued at approximately $645,786.90. The trade was a 16.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Adam Chamberlain sold 403 shares of Lithia Motors stock in a transaction on Friday, February 14th. The stock was sold at an average price of $384.28, for a total value of $154,864.84. Following the completion of the sale, the chief operating officer now directly owns 2,605 shares of the company's stock, valued at $1,001,049.40. The trade was a 13.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,246 shares of company stock worth $433,724. Company insiders own 0.87% of the company's stock.

Lithia Motors Company 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.