Pegasus Partners Ltd. trimmed its stake in shares of LKQ Co. (NASDAQ:LKQ) by 37.6% in the second quarter, Holdings Channel reports. The fund owned 59,516 shares of the auto parts company’s stock after selling 35,906 shares during the period. Pegasus Partners Ltd.’s holdings in LKQ were worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Icon Wealth Partners LLC acquired a new stake in shares of LKQ in the 1st quarter valued at approximately $31,000. Investors Research Corp purchased a new position in LKQ in the 1st quarter valued at approximately $34,000. Optimum Investment Advisors increased its stake in LKQ by 211.1% in the 2nd quarter. Optimum Investment Advisors now owns 1,400 shares of the auto parts company’s stock valued at $37,000 after purchasing an additional 950 shares in the last quarter. Bessemer Group Inc. increased its stake in LKQ by 522.3% in the 2nd quarter. Bessemer Group Inc. now owns 1,817 shares of the auto parts company’s stock valued at $48,000 after purchasing an additional 1,525 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in LKQ by 1,247.1% in the 1st quarter. Quadrant Capital Group LLC now owns 2,061 shares of the auto parts company’s stock valued at $56,000 after purchasing an additional 1,908 shares in the last quarter. 89.61% of the stock is owned by institutional investors.
Several equities analysts recently weighed in on the company. Wellington Shields downgraded LKQ from a “buy” rating to a “gradually accumulate” rating in a research note on Thursday, July 25th. ValuEngine downgraded LKQ from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. Raymond James downgraded LKQ from an “outperform” rating to a “market perform” rating in a research note on Friday, July 26th. BidaskClub raised LKQ from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Zacks Investment Research downgraded LKQ from a “hold” rating to a “sell” rating and set a $29.00 price objective for the company. in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. LKQ has a consensus rating of “Hold” and an average price target of $34.50.
LKQ (NASDAQ:LKQ) last released its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.28 billion. LKQ had a return on equity of 14.54% and a net margin of 3.36%. LKQ’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. Analysts forecast that LKQ Co. will post 2.34 EPS for the current year.
In other LKQ news, EVP John S. Quinn sold 10,721 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $27.04, for a total transaction of $289,895.84. Following the completion of the transaction, the executive vice president now owns 254,674 shares of the company’s stock, valued at $6,886,384.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.71% of the company’s stock.
LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates in four segments: Wholesale – North America, Europe, Specialty, and Self Service. 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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