Principal Financial Group Inc. increases its position in LKQ Co. (NASDAQ:LKQ)

Principal Financial Group Inc. increased its stake in LKQ Co. (NASDAQ:LKQ – Free Report) by 230.3% in the second quarter, according to the company in its most recent SEC disclosure. The firm owned 1,011,132 shares of the auto parts company’s stock after purchasing an additional 705,040 shares during the quarter. Principal Financial Group Inc. owned about 0.38% of LKQ worth $42,053,000 as of its most recent SEC filing.

Other institutional investors have recently modified their positions in the company. Homestead Advisers Corp purchased a new position in shares of LKQ in the 4th quarter valued at $20,583,000. Manning & Napier Advisors LLC purchased a new position in shares of LKQ in the second quarter valued at approximately $3,839,000. KBC Group NV raised its holdings in shares of LKQ by 49.2% during the 4th quarter. KBC Group NV now owns 689,041 shares of the auto parts company’s stock worth $32,929,000 after buying an additional 227,314 shares during that period. CHURCHILL MANAGEMENT Corp purchased a new stake in LKQ in the 1st quarter worth about $1,468,000. Finally, Capital World Investors boosted its holdings in LKQ by 91.0% in the first quarter. Capital World Investors now owns 582,953 shares of the auto parts company’s stock valued at $31,136,000 after buying an additional 277,700 shares during the period. 95.63% of shares are held by hedge funds and other institutional investors.

LKQ price performance

Shares of LKQ stock opened at $41.59 on Friday. The company has a fifty day moving average price of $41.64 and a 200 day moving average price of $45.35. The company has a current ratio of 1.75, a quick ratio of 0.70, and a debt-to-equity ratio of 0.69. LKQ Co. has a twelve month low of $35.57 and a twelve month high of $54.07. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 13.50 and a beta of 1.29.

LKQ (NASDAQ:LKQ – Get Your Free Report ) last issued its quarterly earnings data on Thursday, July 25th. The auto parts company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.87 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. The company’s quarterly revenue was up 7.3% year over year. In the same period last year, the company earned $1.09 per share. Equities research analysts forecast that LKQ Co. will post 3.6 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.30 dividend. The ex-dividend date was Thursday, August 15. This represents a dividend of $1.20 on an annualized basis and a yield of 2.89%. LKQ’s payout ratio is currently 38.96%.

Changes in Analyst Ratings

Several equities research analysts have issued reports on the stock. Roth Mkm reiterated a “buy” rating and set a $65.00 price objective on shares of LKQ in a research note on Thursday, July 25th. Barrington Research restated an “outperform” rating and set a $60.00 target price on shares of LKQ in a report on Thursday, July 25th. Finally, Robert W. Baird cut their price target on shares of LKQ from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, the 26th July. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. LKQ has a consensus rating of “Moderate Buy” and a consensus price target of $60.80, according to MarketBeat.com.

Read the latest stock report on LKQ

Insider buying and selling at LKQ

In other news, SVP Matthew J. Mckay purchased 2,500 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were bought at an average cost of $39.75 per share, with a total value of $99,375.00. Following the transaction, the senior vice president now directly owns 94,670 shares in the company, valued at approximately $3,763,132.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Matthew J. Mckay purchased 2,500 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were purchased at an average price of $39.75 per share, for a total transaction of $99,375.00. Following the acquisition, the senior vice president now owns 94,670 shares in the company, valued at approximately $3,763,132.50. The transaction was disclosed in a filing with the SEC, which is accessible via this link. Also, Director Andrew C. Clarke acquired 7,600 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average price of $39.70 per share, with a total value of $301,720.00. Following the completion of the acquisition, the director now directly owns 10,519 shares of the company’s stock, valued at approximately $417,604.30. Disclosure for this purchase can be found here. Insiders bought a total of 12,600 shares of company stock worth $500,870 over the last ninety days. Insiders own 0.55% of the company’s shares.

LKQ profile

(Free report)

LKQ Corporation is engaged 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, body panels and lights, as well as mechanical auto parts and accessories; salvage products including mechanical and collision parts including engines; transmissions; door assemblies; sheet metal products such as trunk lids, fenders and hoods; lights and bumper assemblies; scrap metal and other materials for metal recyclers; and brake pads, discs and sensors, clutches, steering and suspension products, filters and automotive oil and fluids, and electrical products including spark plugs and batteries.

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