Financial Enhancement Group LLC grew its stake in shares of LKQ Co. (NASDAQ:LKQ – Free Report) by 6.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 140,008 shares of the auto parts company’s stock after acquiring an additional 8,629 shares during the period. LKQ comprises approximately 1.5% of Financial Enhancement Group LLC’s investment portfolio, making the stock its 20th biggest holding. Financial Enhancement Group LLC owned approximately 0.05% of LKQ worth $7,821,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of LKQ. Clear Street Markets LLC raised its stake in shares of LKQ by 94.1% during the first quarter. Clear Street Markets LLC now owns 497 shares of the auto parts company’s stock valued at $28,000 after acquiring an additional 241 shares in the last quarter. Covestor Ltd raised its stake in LKQ by 81.1% in the first 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. Desjardins Global Asset Management Inc. bought a new position in LKQ in the first quarter worth approximately $35,000. Venturi Wealth Management LLC bought a new position in LKQ in the first quarter worth approximately $36,000. Finally, Steward Partners Investment Advisory LLC raised its stake in LKQ by 55.3% in the first quarter. Steward Partners Investment Advisory LLC now owns 736 shares of the auto parts company’s stock worth $42,000 after buying an additional 262 shares in the last quarter. Institutional investors own 93.67% of the company’s stock.
Insider Activity
In other news, CEO Dominick P. Zarcone sold 32,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $51.74, for a total transaction of $1,655,680.00. Following the sale, the chief executive officer now directly owns 495,004 shares of the company’s stock, valued at $25,611,506.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.55% of the company’s stock.
LKQ Stock Performance
LKQ (NASDAQ:LKQ – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The auto parts company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.46 billion. LKQ had a net margin of 7.80% and a return on equity of 18.65%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. Analysts expect that LKQ Co. will post 4 earnings per share for the current fiscal year.
LKQ Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Wednesday, August 16th. LKQ’s dividend payout ratio (DPR) is presently 29.49%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on LKQ. StockNews.com downgraded shares of LKQ from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 3rd. Robert W. Baird reissued an “outperform” rating and issued a $65.00 price objective on shares of LKQ in a research note on Monday, August 28th.
Check Out Our Latest Analysis on LKQ
LKQ Profile
LKQ Corporation engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories. It operates through four segments: Wholesale-North America, Europe, Specialty, and Self Service. 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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