Principal Financial Group Inc. Boosts Stock Position in LKQ Corporation (NASDAQ:LKQ)

Principal Financial Group Inc. increased its stake in LKQ Corporation (NASDAQ:LKQ - Free Report) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,454,095 shares of the auto parts company's stock after acquiring an additional 116,915 shares during the period. Principal Financial Group Inc. owned about 0.56% of LKQ worth $61,857,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of LKQ. UMB Bank n.a. raised its position in LKQ by 104.8% during the 1st quarter. UMB Bank n.a. now owns 977 shares of the auto parts company's stock valued at $42,000 after purchasing an additional 500 shares during the last quarter. Horizon Financial Services LLC bought a new position in LKQ during the 1st quarter valued at approximately $42,000. Bruce G. Allen Investments LLC raised its position in 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 valued at $48,000 after purchasing an additional 851 shares during the last quarter. Private Trust Co. NA raised its position in LKQ by 30.2% during the 1st quarter. Private Trust Co. NA now owns 1,847 shares of the auto parts company's stock valued at $79,000 after purchasing an additional 428 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in LKQ by 56.2% during the 1st quarter. Parallel Advisors LLC now owns 1,971 shares of the auto parts company's stock valued at $84,000 after purchasing an additional 709 shares during the last quarter. Institutional investors own 95.63% of the company's stock.

LKQ Stock Down 0.2%

Shares of LKQ stock traded down $0.09 during midday trading on Friday, reaching $38.48. 1,123,670 shares of the stock were exchanged, compared to its average volume of 2,306,709. LKQ Corporation has a 1 year low of $35.56 and a 1 year high of $46.64. The company's 50 day moving average is $39.27 and its two-hundred day moving average is $39.48. The company has a current ratio of 1.52, a quick ratio of 0.56 and a debt-to-equity ratio of 0.62. The firm has a market cap of $9.93 billion, a PE ratio of 14.36 and a beta of 0.95.

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

LKQ Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.12%. LKQ's dividend payout ratio (DPR) is 44.78%.

Analyst Upgrades and Downgrades

A number of research firms have commented on LKQ. Wall Street Zen lowered LKQ from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Barrington Research reaffirmed an "outperform" rating and set a $60.00 price target on shares of LKQ in a research report on Monday, April 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $52.60.

Insider Activity at LKQ

In related news, CEO Justin L. Jude purchased 2,708 shares of the business's stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price of $36.99 per share, for a total transaction of $100,168.92. Following the purchase, the chief executive officer directly owned 280,777 shares of the company's stock, valued at approximately $10,385,941.23. This represents a 0.97% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the director owned 316,135 shares in the company, valued at $12,019,452.70. The trade was a 1.56% decrease in their position. The disclosure for this sale can be found here. Corporate 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.