Procyon Advisors LLC Raises Holdings in LKQ Co. (NASDAQ:LKQ)

Posted by Defense World Staff on Mar 27th, 2023

Procyon Advisors LLC lifted its holdings in LKQ Co. (NASDAQ:LKQ – Get Rating) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,347 shares of the auto parts company’s stock after purchasing an additional 581 shares during the quarter. Procyon Advisors LLC’s holdings in LKQ were worth $713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd increased its holdings in LKQ by 81.1% in the 1st quarter. Covestor Ltd now owns 623 shares of the auto parts company’s stock worth $28,000 after buying an additional 279 shares in the last quarter. Front Row Advisors LLC grew its stake in shares of LKQ by 300.6% in the third quarter. Front Row Advisors LLC now owns 665 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 499 shares during the period. Ronald Blue Trust Inc. raised its holdings in shares of LKQ by 417.6% during the third quarter. Ronald Blue Trust Inc. now owns 823 shares of the auto parts company’s stock valued at $41,000 after purchasing an additional 664 shares during the last quarter. Quadrant Capital Group LLC lifted its position in LKQ by 148.1% during the second quarter. Quadrant Capital Group LLC now owns 836 shares of the auto parts company’s stock valued at $41,000 after purchasing an additional 499 shares during the period. Finally, Janiczek Wealth Management LLC boosted its holdings in LKQ by 78.2% in the third quarter. Janiczek Wealth Management LLC now owns 909 shares of the auto parts company’s stock worth $45,000 after purchasing an additional 399 shares during the last quarter. 93.55% of the stock is owned by institutional investors.

LKQ Trading Up 0.4 %

Shares of LKQ stock opened at $53.80 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.87 and a quick ratio of 0.66. The stock has a market capitalization of $14.38 billion, a PE ratio of 13.09 and a beta of 1.36. LKQ Co. has a 1-year low of $43.37 and a 1-year high of $59.33. The company’s fifty day simple moving average is $56.64 and its 200-day simple moving average is $53.98.

LKQ (NASDAQ:LKQ – Get Rating) last released its earnings results on Thursday, February 23rd. The auto parts company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.06). The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.04 billion. LKQ had a net margin of 8.98% and a return on equity of 19.31%. LKQ’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 earnings per share. As a group, equities analysts anticipate that LKQ Co. will post 4.07 earnings per share for the current year.

LKQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th will be given a $0.275 dividend. The ex-dividend date is Wednesday, March 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.04%. LKQ’s payout ratio is currently 26.76%.

Insider Transactions at LKQ

In related news, Director Holdings L.P. Valueact sold 257,093 shares of the company’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $56.93, for a total value of $14,636,304.49. Following the completion of the transaction, the director now owns 2,488,681 shares of the company’s stock, valued at approximately $141,680,609.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 3,700,295 shares of company stock valued at $211,735,266 over the last three months. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Roth Capital reissued a “buy” rating on shares of LKQ in a report on Tuesday, February 21st. Raymond James upped their price objective on LKQ from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, January 13th. Finally, StockNews.com started coverage on LKQ in a research report on Thursday, March 16th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, LKQ presently has a consensus rating of “Buy” and a consensus target price of $67.00.

LKQ Profile

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LKQ Corp. is a distributor of vehicle products and its parts to repair, maintain, and accessorize automobiles. It operates through the following segments: Wholesale-North America, Europe and Specialty. The Wholesale-North America segment includes Glass and Self-Service segments. The company was founded by Donald F.