Posted by admin on Aug 18th, 2022

Bank of Nova Scotia reduced its position in shares of LKQ Co. (NASDAQ:LKQ – Get Rating) by 35.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,684 shares of the auto parts company’s stock after selling 18,624 shares during the period. Bank of Nova Scotia’s holdings in LKQ were worth $1,529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in LKQ. Fifth Third Bancorp boosted its holdings in LKQ by 66.0% in the first quarter. Fifth Third Bancorp now owns 5,096 shares of the auto parts company’s stock valued at $231,000 after acquiring an additional 2,026 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in LKQ by 27.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,908 shares of the auto parts company’s stock valued at $1,316,000 after acquiring an additional 4,686 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in LKQ by 14.3% in the first quarter. IFM Investors Pty Ltd now owns 45,314 shares of the auto parts company’s stock valued at $2,058,000 after acquiring an additional 5,652 shares during the last quarter. Toronto Dominion Bank boosted its holdings in LKQ by 15.4% in the fourth quarter. Toronto Dominion Bank now owns 159,189 shares of the auto parts company’s stock valued at $9,556,000 after acquiring an additional 21,235 shares during the last quarter. Finally, Diversified Trust Co boosted its holdings in LKQ by 20.5% in the first quarter. Diversified Trust Co now owns 103,112 shares of the auto parts company’s stock valued at $4,682,000 after acquiring an additional 17,515 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors.

In other news, Director Joseph M. Holsten sold 70,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $54.58, for a total transaction of $3,820,600.00. Following the transaction, the director now directly owns 136,901 shares of the company’s stock, valued at $7,472,056.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joseph M. Holsten sold 70,000 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $54.58, for a total value of $3,820,600.00. Following the completion of the sale, the director now directly owns 136,901 shares of the company’s stock, valued at approximately $7,472,056.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Mendel sold 1,617 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $54.61, for a total value of $88,304.37. Following the completion of the sale, the director now directly owns 15,203 shares of the company’s stock, valued at $830,235.83. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Several analysts recently commented on LKQ shares. Guggenheim upped their target price on LKQ to $70.00 in a report on Monday. MKM Partners began coverage on LKQ in a report on Wednesday, July 13th. They set a “buy” rating and a $68.00 price target on the stock. Barrington Research upgraded LKQ from a “market perform” rating to an “outperform” rating in a report on Thursday, April 28th. Finally, StockNews.com cut LKQ from a “strong-buy” rating to a “buy” rating in a report on Friday, July 29th.

LKQ stock opened at $56.42 on Thursday. The stock has a market capitalization of $15.48 billion, a price-to-earnings ratio of 13.40 and a beta of 1.40. LKQ Co. has a 52-week low of $42.36 and a 52-week high of $60.43. The stock’s 50 day moving average price is $51.62 and its two-hundred day moving average price is $49.98. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.68 and a current ratio of 1.74.

LKQ (NASDAQ:LKQ – Get Rating) last issued its earnings results on Thursday, July 28th. The auto parts company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. LKQ had a return on equity of 19.88% and a net margin of 9.21%. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the firm earned $1.13 earnings per share. LKQ’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities analysts predict that LKQ Co. will post 3.94 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, August 10th. LKQ’s payout ratio is 23.75%.

LKQ Corporation distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates through three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, and lights, as well as automotive glass products, such as windshields; 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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