Posted by admin on Jul 20th, 2022

Avantax Advisory Services Inc. raised its stake in LKQ Co. (NASDAQ:LKQ – Get Rating) by 5.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,619 shares of the auto parts company’s stock after acquiring an additional 324 shares during the period. Avantax Advisory Services Inc.’s holdings in LKQ were worth $301,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LKQ. Allspring Global Investments Holdings LLC acquired a new position in LKQ during the fourth quarter worth $371,441,000. Norges Bank acquired a new position in LKQ during the fourth quarter worth $328,484,000. Goldman Sachs Group Inc. increased its holdings in LKQ by 241.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,352,601 shares of the auto parts company’s stock worth $201,256,000 after buying an additional 2,370,129 shares during the last quarter. Lazard Asset Management LLC increased its holdings in LKQ by 18.4% during the fourth quarter. Lazard Asset Management LLC now owns 5,835,394 shares of the auto parts company’s stock worth $350,298,000 after buying an additional 907,640 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in LKQ by 4.3% during the fourth quarter. BlackRock Inc. now owns 22,040,628 shares of the auto parts company’s stock worth $1,323,099,000 after buying an additional 907,227 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Holdings L.P. Valueact sold 5,000,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $50.35, for a total transaction of $251,750,000.00. Following the completion of the sale, the director now owns 12,552,751 shares of the company’s stock, valued at $632,031,012.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Patrick Berard sold 702 shares of the stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $49.72, for a total value of $34,903.44. Following the completion of the transaction, the director now owns 11,806 shares of the company’s stock, valued at $586,994.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Holdings L.P. Valueact sold 5,000,000 shares of the stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $50.35, for a total transaction of $251,750,000.00. Following the completion of the transaction, the director now directly owns 12,552,751 shares of the company’s stock, valued at approximately $632,031,012.85. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Shares of LKQ stock opened at $52.76 on Wednesday. The firm has a 50-day moving average of $50.02 and a 200-day moving average of $50.20. The stock has a market cap of $14.92 billion, a PE ratio of 14.14 and a beta of 1.40. LKQ Co. has a 52-week low of $42.36 and a 52-week high of $60.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.85 and a current ratio of 1.88.

LKQ (NASDAQ:LKQ – Get Rating) last announced its earnings results on Thursday, April 28th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.09. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.29 billion. LKQ had a net margin of 8.28% and a return on equity of 20.19%. LKQ’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 earnings per share. As a group, sell-side analysts forecast that LKQ Co. will post 3.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 2nd. Investors of record on Thursday, May 19th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $1.00 annualized dividend and a yield of 1.90%. LKQ’s dividend payout ratio is 26.81%.

A number of equities analysts recently weighed in on LKQ shares. Raymond James lowered their target price on shares of LKQ from $62.00 to $59.00 in a report on Monday, April 11th. Barrington Research upgraded shares of LKQ from a “market perform” rating to an “outperform” rating in a report on Thursday, April 28th. MKM Partners started coverage on shares of LKQ in a report on Wednesday, July 13th. They issued a “buy” rating and a $68.00 price objective on the stock. Finally, StockNews.com downgraded shares of LKQ from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, LKQ currently has an average rating of “Buy” and an average price target of $64.00.

LKQ Corporation distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates through three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, and lights, as well as automotive glass products, such as windshields; salvage products, including mechanical and collision parts comprising engines; transmissions; door assemblies; sheet metal products, such as trunk lids, fenders, and hoods; lights and bumper assemblies; scrap metal and other materials to metals recyclers; and brake pads, discs and sensors, clutches, steering and suspension products, filters, and oil and automotive fluids, as well as electrical products, including spark plugs and batteries.

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