LKQ Co. (NASDAQ:LKQ) Shares Sold by State of Michigan Retirement System

Posted by on Apr 11th, 2023

State of Michigan Retirement System lowered its stake in shares of LKQ Co. (NASDAQ:LKQ – Get Rating) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,483 shares of the auto parts company’s stock after selling 4,700 shares during the period. State of Michigan Retirement System’s holdings in LKQ were worth $4,512,000 at the end of the most recent quarter.

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

LKQ Trading Up 2.1 %

NASDAQ LKQ opened at $55.57 on Tuesday. The company has a market capitalization of $14.85 billion, a price-to-earnings ratio of 13.52 and a beta of 1.36. The company’s fifty day moving average price is $56.24 and its two-hundred day moving average price 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 Co. has a 12 month low of $45.12 and a 12 month high of $59.33.

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

LKQ Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th were paid a $0.275 dividend. The ex-dividend date was Wednesday, March 15th. This represents a $1.10 annualized dividend and a dividend yield of 1.98%. LKQ’s dividend payout ratio is currently 26.76%.

Insider Buying and Selling

In related news, Director Holdings L.P. Valueact sold 425,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $57.83, for a total value of $24,577,750.00. Following the completion of the transaction, the director now owns 202,751 shares of the company’s stock, valued at approximately $11,725,090.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 3,700,295 shares of company stock worth $211,735,266 in the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

About LKQ

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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.

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Institutional Ownership by Quarter for LKQ (NASDAQ:LKQ)

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