LPL Financial LLC Cuts Stock Holdings in LKQ Corporation (NASDAQ:LKQ)

Key Points

• LPL Financial LLC reduced its stake in LKQ Corporation by 12.5% in the first quarter, selling 15,826 shares and now holds 110,903 shares valued at approximately $4.72 million.
• LKQ Corporation's recent earnings report revealed an EPS of $0.87, falling short of the consensus estimate of $0.93, and a revenue of $3.64 billion.
• The company declared a quarterly dividend of $0.30 per share, with a dividend yield of 3.8%, payable on August 28th.

LPL Financial LLC trimmed its position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,903 shares of the auto parts company's stock after selling 15,826 shares during the quarter. LPL Financial LLC's holdings in LKQ were worth $4,718,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LKQ. UMB Bank n.a. grew its stake in LKQ by 104.8% in the 1st quarter. UMB Bank n.a. now owns 977 shares of the auto parts company's stock valued at $42,000 after acquiring an additional 500 shares during the period. Horizon Financial Services LLC acquired a new stake in LKQ in the 1st quarter valued at $42,000. Bruce G. Allen Investments LLC grew its stake in LKQ by 299.6% in the 1st 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 period. Whittier Trust Co. grew its stake in LKQ by 70.9% in the 1st quarter. Whittier Trust Co. now owns 1,707 shares of the auto parts company's stock valued at $73,000 after acquiring an additional 708 shares during the period. Finally, Private Trust Co. NA grew its stake in LKQ by 30.2% in the 1st quarter. Private Trust Co. NA now owns 1,847 shares of the auto parts company's stock valued at $79,000 after acquiring an additional 428 shares during the period. 95.63% of the stock is owned by hedge funds and other institutional investors.

LKQ Trading Up 5.3%

Shares of LKQ opened at $31.71 on Thursday. LKQ Corporation has a 52-week low of $28.92 and a 52-week high of $44.82. The company has a quick ratio of 0.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.19. The firm's fifty day moving average is $35.73 and its two-hundred day moving average is $38.84. The stock has a market cap of $8.16 billion, a PE ratio of 11.62 and a beta of 0.92.

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

LKQ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.8%. LKQ's payout ratio is presently 43.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barrington Research reissued an "outperform" rating and issued a $60.00 price target on shares of LKQ in a research note on Tuesday, July 22nd. Robert W. Baird dropped their price target on shares of LKQ from $48.00 to $42.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Finally, Wall Street Zen cut shares of LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.40.

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.

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