Bank of New York Mellon Corp Has $137.64 Million Holdings in LKQ Co. (NASDAQ:LKQ)

Posted by Defense World Staff on Mar 19th, 2023

Bank of New York Mellon Corp lessened its position in shares of LKQ Co. (NASDAQ:LKQ – Get Rating) by 3.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,919,086 shares of the auto parts company’s stock after selling 106,187 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.09% of LKQ worth $137,635,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Toroso Investments LLC increased its position in LKQ by 148.8% during the 3rd quarter. Toroso Investments LLC now owns 12,931 shares of the auto parts company’s stock valued at $610,000 after purchasing an additional 7,733 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in LKQ during the 3rd quarter valued at approximately $1,135,000. Power Corp of Canada bought a new position in shares of LKQ during the 3rd quarter worth approximately $194,000. National Pension Service boosted its holdings in shares of LKQ by 432.2% during the 3rd quarter. National Pension Service now owns 558,987 shares of the auto parts company’s stock worth $26,390,000 after buying an additional 453,959 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in shares of LKQ by 2.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 446,163 shares of the auto parts company’s stock worth $21,035,000 after buying an additional 10,993 shares in the last quarter. Institutional investors and hedge funds own 93.55% of the company’s stock.

LKQ Price Performance

Shares of LKQ opened at $54.04 on Friday. LKQ Co. has a 12-month low of $43.37 and a 12-month high of $59.33. The business’s fifty day moving average is $56.91 and its 200 day moving average is $53.92. The company has a quick ratio of 0.66, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. The stock has a market cap of $14.43 billion, a P/E ratio of 13.15 and a beta of 1.36.

LKQ (NASDAQ:LKQ – Get Rating) last issued its earnings results on Thursday, February 23rd. The auto parts company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.06). LKQ had a return on equity of 19.31% and a net margin of 8.98%. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. LKQ’s revenue for the quarter was down 5.8% on a year-over-year basis. Sell-side analysts anticipate that LKQ Co. will post 4.07 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.04%. The ex-dividend date is Wednesday, March 15th. LKQ’s dividend payout ratio (DPR) is presently 26.76%.

Insider Buying and Selling at LKQ

In other LKQ news, Director Holdings L.P. Valueact sold 383,088 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $57.76, for a total transaction of $22,127,162.88. Following the transaction, the director now directly owns 4,663,667 shares in the company, valued at approximately $269,373,405.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 3,700,295 shares of company stock worth $211,735,266. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LKQ. Raymond James increased their price target on LKQ from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, January 13th. Roth Capital restated a “buy” rating on shares of LKQ in a report on Tuesday, February 21st. Finally, StockNews.com began coverage on LKQ in a report on Thursday. They set a “buy” rating on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $67.00.

LKQ Company Profile

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LKQ Corp. is a distributor of vehicle products and its parts to repair, maintain, and accessorize automobiles. It operates through the following segments: Wholesale-North America, Europe and Specialty. The Wholesale-North America segment includes Glass and Self-Service segments. The company was founded by Donald F.