Moran Wealth Management LLC Makes New Investment in LKQ Corporation (NASDAQ:LKQ)

Moran Wealth Management LLC purchased a new position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 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 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LKQ. Barrington Research reiterated an "outperform" rating and issued a $60.00 target price on shares of LKQ in a research note on Monday, April 21st. Wall Street Zen lowered shares of LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.60.

LKQ Stock Performance

NASDAQ:LKQ traded up $0.05 during midday trading on Friday, reaching $37.12. The stock had a trading volume of 3,092,339 shares, compared to its average volume of 2,311,585. LKQ Corporation has a 1-year low of $35.56 and a 1-year high of $46.64. The firm's fifty day simple moving average is $39.47 and its 200-day simple moving average is $39.46. 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 stock has a market capitalization of $9.58 billion, a P/E ratio of 13.85 and a beta of 0.98.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The auto parts company reported $0.79 earnings per share for the quarter, meeting analysts' consensus estimates of $0.79. LKQ had a net margin of 4.97% and a return on equity of 14.66%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the prior year, the firm earned $0.82 EPS. The business's revenue was down 6.5% on a year-over-year basis. On average, equities research analysts forecast that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Thursday, May 15th. LKQ's dividend payout ratio (DPR) is presently 44.78%.

Insider Buying and Selling at LKQ

In other LKQ news, CEO Justin L. Jude bought 2,708 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $36.99 per share, with a total value of $100,168.92. Following the completion of the purchase, the chief executive officer now directly owns 280,777 shares in the company, valued at $10,385,941.23. The trade was a 0.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dominick P. Zarcone sold 15,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $42.15, for a total transaction of $632,250.00. Following the completion of the transaction, the director now directly owns 321,135 shares of the company's stock, valued at $13,535,840.25. This trade represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.55% of the company's stock.

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 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.