Moran Wealth Management LLC Takes $7.38 Million Position in LKQ Corporation (NASDAQ:LKQ)

Moran Wealth Management LLC bought a new stake in LKQ Corporation (NASDAQ:LKQ - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 173,530 shares of the auto parts company's stock, valued at approximately $7,382,000. Moran Wealth Management LLC owned about 0.07% of LKQ at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. UMB Bank n.a. grew its holdings in LKQ by 104.8% in the 1st quarter. UMB Bank n.a. now owns 977 shares of the auto parts company's stock worth $42,000 after acquiring an additional 500 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of LKQ by 299.6% during the first quarter. Bruce G. Allen Investments LLC now owns 1,135 shares of the auto parts company's stock valued at $48,000 after acquiring an additional 851 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of LKQ by 56.2% in the first quarter. Parallel Advisors LLC now owns 1,971 shares of the auto parts company's stock worth $84,000 after purchasing an additional 709 shares during the last quarter. Allworth Financial LP grew its stake in shares of LKQ by 107.8% in the fourth quarter. Allworth Financial LP now owns 2,099 shares of the auto parts company's stock worth $82,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in LKQ by 71.3% during the 4th quarter. Bessemer Group Inc. now owns 3,116 shares of the auto parts company's stock valued at $114,000 after purchasing an additional 1,297 shares during the period. Institutional investors own 95.63% of the company's stock.

Analysts Set New Price Targets

LKQ has been the subject of several research analyst reports. Wall Street Zen cut LKQ from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Barrington Research restated an "outperform" rating and set a $60.00 target price on shares of LKQ in a report on Monday, April 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.60.

Insider Transactions at LKQ

In related news, Director Dominick P. Zarcone sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $38.02, for a total value of $190,100.00. Following the sale, the director now owns 316,135 shares in the company, valued at $12,019,452.70. This represents a 1.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Justin L. Jude acquired 2,708 shares of the stock in a transaction on Friday, April 25th. The shares were bought at an average price of $36.99 per share, with a total value of $100,168.92. Following the purchase, the chief executive officer now directly owns 280,777 shares of the company's stock, valued at $10,385,941.23. The trade was a 0.97% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.55% of the company's stock.

LKQ Stock Up 0.4%

LKQ traded up $0.13 on Thursday, hitting $37.07. The company had a trading volume of 1,743,532 shares, compared to its average volume of 2,305,525. The stock has a fifty day simple moving average of $39.66 and a 200-day simple moving average of $39.48. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.52 and a quick ratio of 0.56. The firm has a market capitalization of $9.57 billion, a P/E ratio of 13.83 and a beta of 0.98. LKQ Corporation has a 52-week low of $35.56 and a 52-week high of $46.64.

LKQ (NASDAQ:LKQ - Get Free Report) last released its earnings results on Thursday, April 24th. The auto parts company reported $0.79 EPS for the quarter, meeting analysts' consensus estimates of $0.79. LKQ had a return on equity of 14.66% and a net margin of 4.97%. The company had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.58 billion. During the same quarter last year, the business posted $0.82 EPS. The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, equities analysts expect that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Thursday, May 15th. LKQ's dividend payout ratio (DPR) is presently 44.78%.

About LKQ

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 mechanical automotive parts and accessories; 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.