Handelsbanken Fonder AB Cuts Stock Position in LKQ Corporation $LKQ

Handelsbanken Fonder AB lessened its stake in shares of LKQ Corporation (NASDAQ:LKQ) by 28.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,200 shares of the auto parts company’s stock after selling 23,300 shares during the period. Handelsbanken Fonder AB’s holdings in LKQ were worth $2,191,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of LKQ by 10.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,062 shares of the auto parts company’s stock valued at $173,000 after acquiring an additional 379 shares in the last quarter. Smartleaf Asset Management LLC grew its position in LKQ by 13.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,348 shares of the auto parts company’s stock valued at $139,000 after purchasing an additional 397 shares during the last quarter. Commerce Bank increased its stake in LKQ by 2.7% during the 1st quarter. Commerce Bank now owns 18,782 shares of the auto parts company’s stock valued at $799,000 after purchasing an additional 492 shares in the last quarter. Brooklyn Investment Group raised its holdings in LKQ by 91.8% in the first quarter. Brooklyn Investment Group now owns 1,197 shares of the auto parts company’s stock worth $51,000 after buying an additional 573 shares during the last quarter. Finally, Atlas Capital Advisors Inc. lifted its stake in shares of LKQ by 18.8% in the first quarter. Atlas Capital Advisors Inc. now owns 3,659 shares of the auto parts company’s stock worth $156,000 after buying an additional 579 shares in the last quarter. 95.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LKQ shares. Zacks Research raised shares of LKQ from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Roth Capital reissued a “buy” rating and issued a $43.00 target price (down previously from $46.00) on shares of LKQ in a report on Monday, November 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of LKQ in a research note on Monday. Finally, Barclays assumed coverage on LKQ in a research report on Tuesday, November 11th. They set an “equal weight” rating and a $33.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.40.

LKQ Stock Performance

Shares of LKQ opened at $29.75 on Wednesday. The firm has a market capitalization of $7.61 billion, a P/E ratio of 10.90 and a beta of 0.91. 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 Corporation has a one year low of $28.42 and a one year high of $44.82. The business has a fifty day moving average of $30.36 and a 200 day moving average of $33.85.

LKQ (NASDAQ:LKQ) last announced its earnings results on Thursday, October 30th. The auto parts company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.10. LKQ had a return on equity of 13.85% and a net margin of 5.04%.The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. LKQ has set its FY 2025 guidance at 3.000-3.150 EPS. As a group, sell-side analysts anticipate that LKQ Corporation will post 3.57 EPS for the current year.

LKQ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, November 20th. LKQ’s dividend payout ratio is currently 44.44%.

LKQ 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.