KBC Group NV Purchases Shares of 446 Lithia Motors, Inc. (NYSE:LAD) (2024)

Posted by Defense World Staff on Jun 11th, 2024

KBC Group NV purchased a new stake in Lithia Motors, Inc. (NYSE:LAD – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 446 shares of the company’s stock, valued at approximately $147,000.

A number of other institutional investors also recently modified their holdings of LAD. Norges Bank acquired a new position in shares of Lithia Motors during the fourth quarter worth approximately $123,976,000. FMR LLC raised its position in shares of Lithia Motors by 10.3% during the third quarter. FMR LLC now owns 492,273 shares of the company’s stock worth $145,383,000 after purchasing an additional 45,977 shares during the period. Boston Partners raised its position in shares of Lithia Motors by 67.5% during the fourth quarter. Boston Partners now owns 82,915 shares of the company’s stock worth $26,734,000 after purchasing an additional 33,405 shares during the period. Kensico Capital Management Corp raised its position in shares of Lithia Motors by 41.3% during the third quarter. Kensico Capital Management Corp now owns 113,000 shares of the company’s stock worth $33,372,000 after purchasing an additional 33,000 shares during the period. Finally, UBS Group AG raised its position in shares of Lithia Motors by 1,288.3% during the third quarter. UBS Group AG now owns 31,862 shares of the company’s stock worth $9,410,000 after purchasing an additional 29,567 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LAD shares. StockNews.com raised Lithia Motors from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Citigroup decreased their price target on Lithia Motors from $320.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Morgan Stanley upped their price target on Lithia Motors from $220.00 to $230.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Wells Fargo & Company decreased their price target on Lithia Motors from $290.00 to $248.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Finally, Bank of America upped their price target on Lithia Motors from $380.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $319.45.

Get Our Latest Stock Report on Lithia Motors

Lithia Motors Stock Up 0.7 %

Shares of NYSE:LAD opened at $260.00 on Tuesday. The company has a market capitalization of $7.13 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 3.01 and a beta of 1.62. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.17 and a quick ratio of 0.28. The business has a fifty day moving average price of $264.08 and a two-hundred day moving average price of $283.91. Lithia Motors, Inc. has a 1 year low of $231.36 and a 1 year high of $331.96.

Lithia Motors (NYSE:LAD – Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.58 billion. Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter last year, the company earned $8.44 EPS. Analysts forecast that Lithia Motors, Inc. will post 28.78 earnings per share for the current year.

Lithia Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a dividend of $0.53 per share. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.82%. Lithia Motors’s dividend payout ratio is presently 6.26%.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 138 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total transaction of $35,109.96. Following the completion of the transaction, the director now owns 2,228 shares in the company, valued at approximately $566,847.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.79% of the stock is owned by corporate insiders.

Lithia Motors Company Profile

(Free Report)

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.

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