Walled Lake Planning & Wealth Management LLC Invests $2.87 Million in LKQ Corporation (NASDAQ:LKQ)

Key Points

• Walled Lake Planning & Wealth Management LLC has initiated a new investment in LKQ Corporation, acquiring 67,513 shares valued at approximately $2.87 million in the first quarter.
• Despite reporting EPS of $0.87 for the last quarter, LKQ missed the consensus estimate of $0.93, reflecting a year-over-year revenue decline of 1.6%.
• LKQ recently declared a quarterly dividend of $0.30 per share, marking a dividend yield of 3.81% with a payout ratio of 43.96%.

Walled Lake Planning & Wealth Management LLC purchased a new position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 67,513 shares of the auto parts company's stock, valued at approximately $2,872,000.

A number of other institutional investors also recently modified their holdings of the business. Clarkston Capital Partners LLC acquired a new position in LKQ in the 4th quarter worth about $91,678,000. Janney Montgomery Scott LLC acquired a new position in LKQ in the 1st quarter worth about $321,000. Teacher Retirement System of Texas acquired a new position in LKQ in the 1st quarter worth about $1,618,000. Amalgamated Bank increased its stake in shares of LKQ by 1.6% in the first quarter. Amalgamated Bank now owns 50,851 shares of the auto parts company's stock valued at $2,163,000 after buying an additional 801 shares during the period. Finally, Aquatic Capital Management LLC increased its stake in shares of LKQ by 53.2% in the fourth quarter. Aquatic Capital Management LLC now owns 19,298 shares of the auto parts company's stock valued at $709,000 after buying an additional 6,698 shares during the period. Institutional investors and hedge funds own 95.63% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LKQ shares. Robert W. Baird decreased their price target on LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. 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. Finally, Wall Street Zen cut LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, LKQ has a consensus rating of "Moderate Buy" and a consensus target price of $51.40.

LKQ Trading Down 1.1%

Shares of LKQ stock traded down $0.35 on Wednesday, hitting $30.12. 2,954,962 shares of the company's stock traded hands, compared to its average volume of 3,010,242. LKQ Corporation has a one year low of $29.91 and a one year high of $44.82. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 0.69. The company has a fifty day moving average of $38.03 and a two-hundred day moving average of $39.48. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 11.03 and a beta of 0.95.

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

LKQ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued a $0.30 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.20 annualized dividend and a yield of 3.98%. LKQ's payout ratio is currently 43.96%.

Insider Transactions at LKQ

In other LKQ news, Director Dominick P. Zarcone sold 5,000 shares of the 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 transaction, the director owned 316,135 shares in the company, valued at approximately $12,019,452.70. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.55% of the company's stock.

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.