LKQ Co. (NASDAQ:LKQ) Shares Sold by M&G Investment Management Ltd.

Posted by Defense World Staff on Apr 11th, 2023

M&G Investment Management Ltd. lessened its holdings in shares of LKQ Co. (NASDAQ:LKQ – Get Rating) by 15.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,307 shares of the auto parts company’s stock after selling 2,706 shares during the quarter. M&G Investment Management Ltd.’s holdings in LKQ were worth $758,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LKQ. Covestor Ltd lifted its position in shares of LKQ by 81.1% during the first quarter. Covestor Ltd now owns 623 shares of the auto parts company’s stock worth $28,000 after purchasing an additional 279 shares during the last quarter. Front Row Advisors LLC lifted its holdings in LKQ by 300.6% during the 3rd quarter. Front Row Advisors LLC now owns 665 shares of the auto parts company’s stock worth $31,000 after buying an additional 499 shares during the last quarter. Ronald Blue Trust Inc. increased its holdings in shares of LKQ by 417.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 823 shares of the auto parts company’s stock valued at $41,000 after acquiring an additional 664 shares during the last quarter. Janiczek Wealth Management LLC raised its position in shares of LKQ by 78.2% during the 3rd quarter. Janiczek Wealth Management LLC now owns 909 shares of the auto parts company’s stock valued at $45,000 after acquiring an additional 399 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in LKQ by 1,874.6% during the third quarter. Rockefeller Capital Management L.P. now owns 1,402 shares of the auto parts company’s stock worth $66,000 after purchasing an additional 1,331 shares during the last quarter. 93.55% of the stock is currently owned by hedge funds and other institutional investors.

LKQ Price Performance

NASDAQ LKQ opened at $55.57 on Tuesday. LKQ Co. has a 12 month low of $45.12 and a 12 month high of $59.33. The firm has a market capitalization of $14.85 billion, a PE ratio of 13.52 and a beta of 1.36. The company’s 50 day simple moving average is $56.24 and its 200 day simple moving average is $54.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.87 and a quick ratio of 0.66.

LKQ (NASDAQ:LKQ – Get Rating) last announced 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). LKQ had a net margin of 8.98% and a return on equity of 19.31%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the business earned $0.87 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that LKQ Co. will post 4.07 EPS for the current fiscal year.

LKQ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Investors of record on Thursday, March 16th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Wednesday, March 15th. LKQ’s payout ratio is 26.76%.

Insiders Place Their Bets

In other news, Director Holdings L.P. Valueact sold 425,000 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $57.83, for a total transaction of $24,577,750.00. Following the completion of the sale, the director now owns 202,751 shares in the company, valued at approximately $11,725,090.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 3,700,295 shares of company stock worth $211,735,266. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. StockNews.com upgraded shares of LKQ from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 5th. Roth Capital reiterated a “buy” rating on shares of LKQ in a research note on Tuesday, February 21st. Finally, Raymond James upped their target price on LKQ from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, January 13th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $67.00.

About LKQ

(Get Rating)

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.