Truist Financial Corp Sells 8,492 Shares of Lithia Motors, Inc. (NYSE:LAD)

Truist Financial Corp reduced its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 85.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,410 shares of the company's stock after selling 8,492 shares during the quarter. Truist Financial Corp's holdings in Lithia Motors were worth $356,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of Lithia Motors by 83.6% during the 2nd quarter. Blue Trust Inc. now owns 134 shares of the company's stock valued at $34,000 after purchasing an additional 61 shares during the last quarter. McClarren Financial Advisors Inc. lifted its position in shares of Lithia Motors by 12,500.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 252 shares of the company's stock valued at $64,000 after buying an additional 250 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Lithia Motors during the 4th quarter worth $67,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lithia Motors during the 2nd quarter worth $80,000. Finally, Mather Group LLC. purchased a new stake in Lithia Motors in the 1st quarter worth about $114,000.

Lithia Motors Price Performance

NYSE LAD traded down $1.49 during trading on Friday, reaching $313.88. The company's stock had a trading volume of 144,369 shares, compared to its average volume of 252,199. The stock has a market capitalization of $8.60 billion, a PE ratio of 9.26, a P/E/G ratio of 0.30 and a beta of 1.64. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.19 and a quick ratio of 0.30. The firm has a fifty day moving average of $295.45 and a 200 day moving average of $273.59. Lithia Motors, Inc. has a one year low of $231.36 and a one year high of $331.96.

Lithia Motors (NYSE:LAD - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $7.87 EPS for the quarter, beating analysts' consensus estimates of $7.09 by $0.78. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The business had revenue of $9.23 billion for the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the prior year, the firm earned $10.91 earnings per share. The firm's revenue was up 13.8% on a year-over-year basis. Analysts expect that Lithia Motors, Inc. will post 28.74 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.53 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.68%. Lithia Motors's payout ratio is 6.26%.

Analysts Set New Price Targets

A number of brokerages have weighed in on LAD. StockNews.com lowered shares of Lithia Motors from a "hold" rating to a "sell" rating in a research report on Tuesday, August 13th. The Goldman Sachs Group increased their price objective on Lithia Motors from $300.00 to $335.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Wells Fargo & Company dropped their price objective on Lithia Motors from $302.00 to $299.00 and set an "equal weight" rating on the stock in a report on Tuesday. Citigroup increased their price objective on Lithia Motors from $280.00 to $320.00 and gave the stock a "neutral" rating in a report on Friday, September 27th. Finally, Stephens initiated coverage on Lithia Motors in a report on Thursday, September 12th. They set an "overweight" rating and a $360.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $337.70.

Insiders Place Their Bets

In related news, Director Shauna Mcintyre sold 306 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total transaction of $88,632.90. Following the transaction, the director now owns 1,922 shares of the company's stock, valued at approximately $556,707.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Shauna Mcintyre sold 306 shares of the firm's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total transaction of $88,632.90. Following the transaction, the director now directly owns 1,922 shares of the company's stock, valued at approximately $556,707.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sidney B. Deboer sold 11,938 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the transaction, the director now directly owns 46,129 shares in the company, valued at $13,417,080.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,021 shares of company stock valued at $6,534,617 over the last quarter. 1.79% of the stock is owned by corporate insiders.

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.