Prudential PLC Has $461,000 Holdings in LKQ Corporation (NASDAQ:LKQ)

Key Points

• Prudential PLC significantly reduced its holdings in LKQ Corporation by 87.8% during the first quarter, now owning just 10,841 shares valued at $461,000.
• LKQ Corporation reported quarterly earnings of $0.87 per share, missing analysts' expectations of $0.93, and its revenue declined 1.6% year-over-year despite overall revenue of $3.64 billion.
• The company also announced a quarterly dividend of $0.30 per share, resulting in an annualized dividend of $1.20 and a yield of 3.9%.

Prudential PLC cut its holdings in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 87.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,841 shares of the auto parts company's stock after selling 78,381 shares during the quarter. Prudential PLC's holdings in LKQ were worth $461,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in shares of LKQ during the first quarter worth approximately $40,000. UMB Bank n.a. raised its stake in shares of LKQ by 104.8% in the first 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 in the last quarter. Horizon Financial Services LLC acquired a new position in shares of LKQ in the first quarter valued at $42,000. Bruce G. Allen Investments LLC raised its stake in shares of LKQ by 299.6% in the first 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 in the last quarter. Finally, Whittier Trust Co. raised its stake in shares of LKQ by 70.9% in the first quarter. Whittier Trust Co. now owns 1,707 shares of the auto parts company's stock valued at $73,000 after purchasing an additional 708 shares in the last quarter. 95.63% of the stock is currently owned by institutional investors and hedge funds.

LKQ Stock Performance

Shares of NASDAQ:LKQ opened at $30.97 on Friday. The business's fifty day moving average price is $35.42 and its two-hundred day moving average price is $38.75. LKQ Corporation has a fifty-two week low of $28.92 and a fifty-two week high of $44.82. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 11.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 0.69.

LKQ (NASDAQ:LKQ - Get Free Report) last announced its quarterly earnings results 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 net margin of 5.04% and a return on equity of 13.85%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter last year, the company earned $0.98 earnings per share. The business's revenue was down 1.6% on a year-over-year basis. As a group, analysts predict that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, August 14th. LKQ's dividend payout ratio is presently 43.96%.

Analysts Set New Price Targets

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

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