PNC Financial Services Group Inc. Increases Stock Position in LKQ Co. (NASDAQ:LKQ)

PNC Financial Services Group Inc. raised its holdings in LKQ Co. (NASDAQ:LKQ) by 41.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,410 shares of the auto parts company’s stock after purchasing an additional 16,079 shares during the period. PNC Financial Services Group Inc.’s holdings in LKQ were worth $2,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Machina Capital S.A.S. lifted its holdings in shares of LKQ by 69.7% in the fourth quarter. Machina Capital S.A.S. now owns 12,401 shares of the auto parts company’s stock valued at $456,000 after purchasing an additional 5,092 shares in the last quarter. Callan Family Office LLC raised its position in shares of LKQ by 6.7% in the fourth quarter. Callan Family Office LLC now owns 7,698 shares of the auto parts company’s stock valued at $283,000 after buying an additional 484 shares during the last quarter. Carmel Capital Partners LLC lifted its stake in shares of LKQ by 3.1% during the fourth quarter. Carmel Capital Partners LLC now owns 37,113 shares of the auto parts company’s stock valued at $1,364,000 after buying an additional 1,127 shares during the period. Inceptionr LLC boosted its position in LKQ by 131.4% during the fourth quarter. Inceptionr LLC now owns 30,663 shares of the auto parts company’s stock worth $1,127,000 after acquiring an additional 17,413 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in LKQ in the 4th quarter worth approximately $40,363,000. Hedge funds and other institutional investors own 95.63% of the company’s stock.

Wall Street Analyst Weigh In

LKQ has been the topic of several analyst reports. StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. JPMorgan Chase & Co. raised their price target on LKQ from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $60.00 price objective on shares of LKQ in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, LKQ presently has a consensus rating of “Moderate Buy” and an average target price of $52.60.

LKQ Price Performance

LKQ stock opened at $41.66 on Friday. The stock has a 50-day moving average price of $39.19 and a two-hundred day moving average price of $38.97. The company has a market cap of $10.80 billion, a PE ratio of 15.90 and a beta of 1.27. The company has a current ratio of 1.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.68. LKQ Co. has a 12-month low of $35.56 and a 12-month high of $53.68.

LKQ (NASDAQ:LKQ) last posted its earnings results on Thursday, February 20th. The auto parts company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.42 billion. LKQ had a net margin of 4.81% and a return on equity of 14.93%. As a group, research analysts predict that LKQ Co. will post 3.57 EPS for the current year.

LKQ Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.88%. LKQ’s dividend payout ratio (DPR) is 45.80%.

Insider Activity at LKQ

In other LKQ news, Director Dominick P. Zarcone sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $36.14, for a total value of $180,700.00. Following the completion of the sale, the director now owns 369,462 shares of the company’s stock, valued at $13,352,356.68. This trade represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 35,000 shares of company stock worth $1,416,300. Corporate insiders own 0.45% of the company’s stock.

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.