Provident Investment Management Inc. Purchases 13,080 Shares of LKQ Corporation (NASDAQ:LKQ)

Key Points

• Provident Investment Management Inc. increased its holdings in LKQ Corporation by 127%, acquiring an additional 13,080 shares, bringing its total ownership to 23,380 shares valued at $995,000.
• Wall Street analysts have mixed ratings for LKQ, with one lowering the stock from a "buy" to a "hold" rating, while others maintain "outperform" ratings with target prices ranging from $42.00 to $60.00.
• LKQ recently announced a quarterly dividend of $0.30 per share, representing an annualized yield of 4.0%, with the payout ratio at 43.96%.

Provident Investment Management Inc. raised its position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 127.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,380 shares of the auto parts company's stock after acquiring an additional 13,080 shares during the quarter. Provident Investment Management Inc.'s holdings in LKQ were worth $995,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Nicholas Hoffman & Company LLC. bought a new stake in LKQ during the 1st quarter valued at approximately $213,000. Blair William & Co. IL purchased a new position in shares of LKQ during the first quarter valued at approximately $236,000. PNC Financial Services Group Inc. lifted its holdings in shares of LKQ by 20.0% during the first quarter. PNC Financial Services Group Inc. now owns 65,319 shares of the auto parts company's stock valued at $2,779,000 after purchasing an additional 10,909 shares during the last quarter. Commerce Bank lifted its holdings in shares of LKQ by 2.7% during the first 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 during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of LKQ by 3.0% during the first 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 during the last quarter. 95.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LKQ has been the subject of several recent research reports. Wall Street Zen lowered shares of LKQ from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Barrington Research reiterated an "outperform" rating and set a $60.00 target price on shares of LKQ in a report on Tuesday, July 22nd. Finally, Robert W. Baird lowered their target price on shares of LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a report on Friday, July 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, LKQ has an average rating of "Moderate Buy" and an average target price of $51.40.

LKQ Price Performance

Shares of NASDAQ LKQ opened at $29.96 on Wednesday. LKQ Corporation has a twelve month low of $29.02 and a twelve month high of $44.82. The firm has a market cap of $7.71 billion, a P/E ratio of 10.97 and a beta of 0.92. The company has a 50 day moving average of $36.96 and a 200 day moving average of $39.21. The company has a quick ratio of 0.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.19.

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

LKQ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, August 14th. LKQ's payout ratio is presently 43.96%.

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.

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