Posted by admin on Jul 22nd, 2022
Truist Financial Corp boosted its position in LKQ Co. (NASDAQ:LKQ – Get Rating) by 6.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,779 shares of the auto parts company’s stock after purchasing an additional 1,667 shares during the quarter. Truist Financial Corp’s holdings in LKQ were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in LKQ. Confluence Wealth Services Inc. purchased a new stake in LKQ in the 4th quarter valued at about $40,000. Exane Derivatives grew its holdings in LKQ by 3,788.9% in the 4th quarter. Exane Derivatives now owns 700 shares of the auto parts company’s stock valued at $42,000 after buying an additional 682 shares during the period. UMB Bank N A MO purchased a new stake in LKQ in the 4th quarter valued at about $50,000. Itau Unibanco Holding S.A. purchased a new stake in LKQ in the 4th quarter valued at about $67,000. Finally, AlphaCentric Advisors LLC purchased a new stake in LKQ in the 4th quarter valued at about $86,000. Institutional investors and hedge funds own 94.02% of the company’s stock.
In other LKQ news, Director Patrick Berard sold 702 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $49.72, for a total value of $34,903.44. Following the transaction, the director now directly owns 11,806 shares of the company’s stock, valued at approximately $586,994.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Patrick Berard sold 702 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $49.72, for a total transaction of $34,903.44. Following the sale, the director now directly owns 11,806 shares of the company’s stock, valued at approximately $586,994.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Holdings L.P. Valueact sold 5,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $50.35, for a total value of $251,750,000.00. Following the sale, the director now directly owns 12,552,751 shares in the company, valued at $632,031,012.85. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.
NASDAQ LKQ opened at $53.38 on Friday. The stock has a market cap of $15.10 billion, a PE ratio of 14.31 and a beta of 1.40. LKQ Co. has a fifty-two week low of $42.36 and a fifty-two week high of $60.43. The business has a 50 day moving average price of $50.17 and a two-hundred day moving average price of $50.19. The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 0.46.
LKQ (NASDAQ:LKQ – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The auto parts company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.09. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.29 billion. LKQ had a return on equity of 20.19% and a net margin of 8.28%. LKQ’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. As a group, sell-side analysts predict that LKQ Co. will post 3.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Thursday, May 19th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Wednesday, May 18th. LKQ’s payout ratio is 26.81%.
LKQ has been the subject of several recent analyst reports. StockNews.com upgraded LKQ from a “buy” rating to a “strong-buy” rating in a report on Thursday. Barrington Research upgraded LKQ from a “market perform” rating to an “outperform” rating in a report on Thursday, April 28th. MKM Partners assumed coverage on LKQ in a report on Wednesday, July 13th. They set a “buy” rating and a $68.00 target price for the company. Finally, Raymond James decreased their target price on LKQ from $62.00 to $59.00 in a report on Monday, April 11th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus 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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