Posted by admin on Aug 7th, 2022

Independent Advisor Alliance trimmed its position in shares of LKQ Co. (NASDAQ:LKQ – Get Rating) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,888 shares of the auto parts company’s stock after selling 1,323 shares during the quarter. Independent Advisor Alliance’s holdings in LKQ were worth $404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of LKQ. Norges Bank purchased a new position in shares of LKQ in the 4th quarter worth about $328,484,000. Goldman Sachs Group Inc. boosted its holdings in shares of LKQ by 241.2% in the 4th 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 boosted its holdings in shares of LKQ by 18.4% in the 4th 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. BlackRock Inc. boosted its holdings in shares of LKQ by 4.3% in the 4th 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. Finally, Nordea Investment Management AB boosted its holdings in shares of LKQ by 36.6% in the 1st quarter. Nordea Investment Management AB now owns 2,868,951 shares of the auto parts company’s stock worth $132,918,000 after buying an additional 768,441 shares during the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

Shares of LKQ stock opened at $55.08 on Friday. LKQ Co. has a 52-week low of $42.36 and a 52-week high of $60.43. The stock’s 50-day simple moving average is $51.01 and its 200 day simple moving average is $49.88. The stock has a market capitalization of $15.11 billion, a P/E ratio of 13.08 and a beta of 1.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.68 and a current ratio of 1.74.

LKQ (NASDAQ:LKQ – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. LKQ had a return on equity of 19.88% and a net margin of 9.21%. The business had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the business posted $1.13 EPS. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, research analysts anticipate that LKQ Co. will post 3.94 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, August 10th. LKQ’s dividend payout ratio is presently 23.75%.

LKQ has been the topic of a number of research analyst reports. MKM Partners initiated coverage on shares of LKQ in a report on Wednesday, July 13th. They issued a “buy” rating and a $68.00 price target on the stock. StockNews.com downgraded shares of LKQ from a “strong-buy” rating to a “buy” rating in a report on Friday, July 29th. Raymond James lowered their price objective on LKQ from $62.00 to $59.00 in a research note on Monday, April 11th. Finally, Barrington Research upgraded LKQ from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 28th.

In other news, Director Holdings L.P. Valueact sold 5,000,000 shares of the company’s 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 sale, the director now directly owns 12,552,751 shares in the company, valued at $632,031,012.85. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, 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 transaction, the director now directly owns 12,552,751 shares in the company, valued at $632,031,012.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the director now owns 11,806 shares in the company, valued at $586,994.32. The disclosure for this sale can be found here. Insiders have sold a total of 5,070,702 shares of company stock worth $255,605,503 over the last ninety days. Company insiders own 0.47% of the company’s stock.

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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