PNC Financial Services Group Inc. Grows Stock Position in LKQ Corporation (NASDAQ:LKQ)

Key Points

• PNC Financial Services Group Inc. increased its holdings in LKQ Corporation by 20% in Q1, now owning 65,319 shares valued at approximately $2.78 million.
• LKQ reported a quarterly EPS of $0.87, falling short of analysts' expectations of $0.93, with quarterly revenue slightly up at $3.64 billion.
• The company announced a quarterly dividend of $0.30, yielding 4.1%, with an ex-dividend date set for August 14th.

PNC Financial Services Group Inc. boosted its stake in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 20.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,319 shares of the auto parts company's stock after buying an additional 10,909 shares during the quarter. PNC Financial Services Group Inc.'s holdings in LKQ were worth $2,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LKQ. Commerce Bank boosted its position in shares of LKQ by 2.7% during the 1st quarter. Commerce Bank now owns 18,782 shares of the auto parts company's stock valued at $799,000 after purchasing an additional 492 shares in the last quarter. US Bancorp DE boosted its position in shares of LKQ by 3.0% during the 1st quarter. US Bancorp DE now owns 31,158 shares of the auto parts company's stock valued at $1,325,000 after purchasing an additional 903 shares in the last quarter. 12th Street Asset Management Company LLC boosted its position in shares of LKQ by 0.5% during the 1st quarter. 12th Street Asset Management Company LLC now owns 957,730 shares of the auto parts company's stock valued at $40,742,000 after purchasing an additional 4,530 shares in the last quarter. Goodman Financial Corp boosted its position in shares of LKQ by 2.8% during the 1st quarter. Goodman Financial Corp now owns 317,305 shares of the auto parts company's stock valued at $13,498,000 after purchasing an additional 8,502 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in shares of LKQ by 44.5% during the 1st quarter. Natixis Advisors LLC now owns 164,812 shares of the auto parts company's stock valued at $7,011,000 after purchasing an additional 50,744 shares in the last quarter. 95.63% of the stock is owned by institutional investors and hedge funds.

LKQ Stock Up 3.0%

Shares of LKQ stock traded up $0.88 on Tuesday, hitting $30.12. The company had a trading volume of 2,296,682 shares, compared to its average volume of 2,577,537. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 11.03 and a beta of 0.92. LKQ Corporation has a 1 year low of $28.92 and a 1 year high of $44.82. The stock has a 50 day moving average of $36.10 and a 200-day moving average of $38.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.69 and a current ratio of 1.81.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The auto parts company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.06). The company had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.62 billion. LKQ had a return on equity of 13.85% and a net margin of 5.04%. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. As a group, sell-side analysts forecast that LKQ Corporation will post 3.57 earnings per share for the current year.

LKQ Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, August 14th. LKQ's dividend payout ratio (DPR) is presently 43.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird cut their target price on LKQ from $48.00 to $42.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Barrington Research reaffirmed an "outperform" rating and set a $60.00 price target on shares of LKQ in a research note on Tuesday, July 22nd. Finally, Wall Street Zen downgraded LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.40.

LKQ Company 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.