Posted by admin on Jun 24th, 2022

DNB Asset Management AS grew its position in LKQ Co. (NASDAQ:LKQ – Get Rating) by 12.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 79,506 shares of the auto parts company’s stock after purchasing an additional 8,600 shares during the period. DNB Asset Management AS’s holdings in LKQ were worth $3,610,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LKQ. Diversified Trust Co boosted its stake in shares of LKQ by 20.5% during the first quarter. Diversified Trust Co now owns 103,112 shares of the auto parts company’s stock valued at $4,682,000 after acquiring an additional 17,515 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of LKQ by 1.2% during the first quarter. Fulton Bank N.A. now owns 66,366 shares of the auto parts company’s stock valued at $3,014,000 after acquiring an additional 769 shares during the last quarter. Okabena Investment Services Inc. boosted its stake in shares of LKQ by 1.4% during the fourth quarter. Okabena Investment Services Inc. now owns 36,120 shares of the auto parts company’s stock valued at $2,168,000 after acquiring an additional 506 shares during the last quarter. Norges Bank acquired a new stake in shares of LKQ during the fourth quarter valued at $328,484,000. Finally, Quent Capital LLC acquired a new stake in shares of LKQ during the fourth quarter valued at $100,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

LKQ has been the topic of a number of analyst reports. StockNews.com raised LKQ from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 30th. Raymond James decreased their price objective on LKQ from $62.00 to $59.00 in a research note on Monday, April 11th. Finally, Barrington Research raised LKQ from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 28th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, LKQ currently has an average rating of “Buy” and an average price target of $63.00.

Shares of NASDAQ:LKQ opened at $48.41 on Friday. The stock’s 50-day moving average price is $49.92 and its two-hundred day moving average price is $51.18. The company has a current ratio of 1.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.46. LKQ Co. has a 12-month low of $42.36 and a 12-month high of $60.43. The firm has a market cap of $13.69 billion, a price-to-earnings ratio of 12.98 and a beta of 1.45.

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

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 2nd. Stockholders of record on Thursday, May 19th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. LKQ’s dividend payout ratio (DPR) is 26.81%.

In related news, Director Holdings L.P. Valueact sold 5,000,000 shares of the firm’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 approximately $632,031,012.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Patrick Berard sold 702 shares of the firm’s 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 sale, the director now owns 11,806 shares in the company, valued at $586,994.32. The disclosure for this sale can be found here. 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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