Allspring Global Investments Holdings LLC Sells 175,068 Shares of LKQ Corporation (NASDAQ:LKQ)

Allspring Global Investments Holdings LLC trimmed its stake in LKQ Corporation (NASDAQ:LKQ - Free Report) by 56.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,727 shares of the auto parts company's stock after selling 175,068 shares during the period. Allspring Global Investments Holdings LLC owned about 0.05% of LKQ worth $5,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. UMB Bank n.a. increased its position in shares of LKQ by 104.8% during the first quarter. UMB Bank n.a. now owns 977 shares of the auto parts company's stock worth $42,000 after buying an additional 500 shares during the period. Bruce G. Allen Investments LLC increased its position 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 worth $48,000 after buying an additional 851 shares during the period. Parallel Advisors LLC increased its position in shares of LKQ by 56.2% during the first quarter. Parallel Advisors LLC now owns 1,971 shares of the auto parts company's stock worth $84,000 after buying an additional 709 shares during the period. Bessemer Group Inc. increased its position in shares of LKQ by 71.3% during the fourth quarter. Bessemer Group Inc. now owns 3,116 shares of the auto parts company's stock worth $114,000 after buying an additional 1,297 shares during the period. Finally, Mufg Securities Americas Inc. acquired a new stake in shares of LKQ during the fourth quarter worth $141,000. 95.63% of the stock is currently owned by institutional investors and hedge funds.

LKQ Stock Up 0.6%

Shares of LKQ stock traded up $0.25 during trading hours on Wednesday, reaching $38.85. The company's stock had a trading volume of 1,700,530 shares, compared to its average volume of 2,304,682. LKQ Corporation has a one year low of $35.56 and a one year high of $46.64. The company has a market capitalization of $10.03 billion, a P/E ratio of 14.50 and a beta of 0.95. The stock's fifty day simple moving average is $39.32 and its two-hundred day simple moving average is $39.51. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.56 and a current ratio of 1.52.

LKQ (NASDAQ:LKQ - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the firm earned $0.82 earnings per share. The business's quarterly revenue was down 6.5% compared to the same quarter last year. On average, research analysts forecast that LKQ Corporation will post 3.57 earnings per share for the current year.

LKQ Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Thursday, May 15th. LKQ's dividend payout ratio (DPR) is 44.78%.

Insiders Place Their Bets

In other news, CEO Justin L. Jude purchased 2,708 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average cost of $36.99 per share, with a total value of $100,168.92. Following the completion of the transaction, the chief executive officer directly owned 280,777 shares of the company's stock, valued at approximately $10,385,941.23. This trade represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dominick P. Zarcone sold 5,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $38.02, for a total transaction of $190,100.00. Following the transaction, the director directly owned 316,135 shares in the company, valued at $12,019,452.70. The trade was a 1.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on LKQ shares. Barrington Research reissued an "outperform" rating and set 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.60.

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.