Reinhart Partners Inc. Decreases its Stake in LKQ Co.: Stock Overview and Insider Transactions

On July 12, 2023, it was revealed that Reinhart Partners Inc. had reduced its holdings in LKQ Co., a prominent auto parts company listed on the NASDAQ exchange. The article delves into the details of the transaction, as well as highlights recent insider sales and provides an overview of LKQ’s stock performance.

Reinhart Partners Inc. Lowers its Stake:

During the first quarter of this year, Reinhart Partners Inc. sold approximately 6.8% of its shares in LKQ Co., according to a filing with the Securities and Exchange Commission (SEC). This reduction amounted to 22,934 shares, bringing their total ownership to 312,699 shares at the end of the period. In terms of value, Reinhart owned approximately $17,749,000 worth of LKQ stock.

Director John W. Mendel’s Stock Sales:

In related news, Director John W. Mendel executed a notable stock sale on Tuesday, May 9th. He sold 1,290 shares at an average price of $57.11 per share, totaling $73,671.90 in value. Following this transaction, Mendel now directly owns 15,800 shares valued at approximately $902,338.

Additionally, Director Meg Divitto sold 2,300 shares on Wednesday, June 7th for an average price of $54.16 per share. The total value of this sale amounted to $124,568. After these transactions were completed, Divitto now holds 15,607 shares valued at around $845,275.

Insider Trading Activity:

Over the past three months leading up to July 12th’s report date alone, insiders have collectively sold off 4,590 shares of LKQ stock, representing a total value of $255,050. This trend indicates that insiders hold approximately 0.55% of the company’s outstanding shares.

Stock Performance and Company Overview:

LKQ Co.’s market capitalization stands at an impressive $15.50 billion as of July 12th, 2023. The stock opened on this date at $58.00 per share on the NASDAQ exchange. With a price-to-earnings (PE) ratio of 13.91 and a beta of 1.36, LKQ’s stock performance has been relatively stable in recent times.

The stock’s 50-day simple moving average is $55.53, while its 200-day simple moving average is slightly higher at $55.98. These figures highlight the stock’s steady trading pattern over the defined time periods.

Furthermore, LKQ Co.’s current ratio is reported to be 1.92, indicating healthy liquidity levels, while its quick ratio stands at 0.78, suggesting its ability to meet short-term liabilities efficiently. Additionally, the company has a debt-to-equity ratio of 0.19, reflecting modest leverage.

Conclusion:

In summary, Reinhart Partners Inc.’s recent reduction in holdings of LKQ Co., coupled with insider sales by directors John W. Mendel and Meg Divitto over the past couple of months, has drawn attention to these activities surrounding the auto parts giant’s stock.

Nevertheless, LKQ Co.’s solid market capitalization, stable stock performance indicators like its PE ratio and beta values, as well as favorable liquidity ratios bode well for investors seeking stability in their investment portfolios within this industry segment.

Please note that all information provided above is accurate as of July 12th, 2023 and is subject to change based on subsequent developments in the given companies’ operations and market conditions.

LKQ Co. Attracts Institutional Investors and Reports Impressive Financial Results

LKQ Co. Sees Surge in Institutional Investor Interest and Reports Strong Financial Performance

Date: July 12, 2023

LKQ Co., a prominent auto parts company listed on NASDAQ (NASDAQ:LKQ), has witnessed significant attention from institutional investors in recent months. This surge in investor interest demonstrates the confidence placed in LKQ’s growth prospects and financial stability. Additionally, the company’s favorable earnings report for the first quarter of the fiscal year has further bolstered its reputation within the industry.

Institutional Investor Interest:

Several institutional investors have increased or decreased their stakes in LKQ Co.’s stock, indicating their belief in the company’s potential and ability to generate returns. MV Capital Management Inc., for example, raised its holdings by an impressive 204.8% during the first quarter, acquiring an additional 508 shares valued at $43,000. Mn Services Vermogensbeheer B.V. also demonstrated confidence in LKQ by increasing its position by 3.2%, adding 4,100 shares valued at $7,569,000 during the same period.

Another notable name among institutional investors is Deroy & Devereaux Private Investment Counsel Inc., presenting itself as a new stakeholder with approximately $1,522,000 worth of shares acquired in the first quarter of this year.

Financial Performance and Earnings Report:

The recently announced quarterly earnings results for LKQ Co., which concluded on April 27th this year, revealed positive financial performance surpassing analysts’ expectations. The auto parts company reported earnings per share (EPS) of $1.04 for the quarter, exceeding consensus estimates by $0.08.

With a net margin of 8.96% and a return on equity of 19.24%, LKQ Co.’s financial indicators exemplify its efficient operational management and profitability even amid challenging market conditions. The company’s revenue for the quarter reached $3.30 billion, slightly surpassing analysts’ expectations of $3.26 billion.

Dividend Payment and Yield:

In addition to its strong financial performance, LKQ Co. announced a quarterly dividend payment on June 1st to shareholders of record as of May 18th. Shareholders received a dividend of $0.275 per share, equating to an annualized dividend yield of 1.90%. This payout demonstrates LKQ Co.’s commitment to rewarding investors and ensuring long-term shareholder value.

Insider Trading Activity:

LKQ Co.’s list of impressive achievements is further highlighted by its top-level management team, as evidenced by recent insider trading activity. Notably, Director John W. Mendel sold 1,290 shares worth an average price of $57.11 on May 9th, generating approximately $73,671.90 in proceeds from the transaction.

Director Meg Divitto also engaged in insider selling activity on June 7th, disposing of 2,300 shares at an average price of $54.16 for a total value of $124,568.

Conclusion:

LKQ Co. continues to captivate institutional investors through its robust financial performance and promising growth prospects within the auto parts industry. The surge in investor interest reflects confidence in the company’s ability to generate returns and deliver shareholder value over the long term.

The positive earnings report for the first quarter further solidifies LKQ Co.’s strong position within the market and demonstrates its resilience even during challenging economic conditions.

As it maintains consistent dividend payments while continuing to drive operational efficiency, LKQ Co remains an attractive investment opportunity for both institutional and individual investors alike.

The post Reinhart Partners Inc. Reduces Stake in LKQ Co.: Stock Overview and Insider Transactions Shed Light on Auto Parts Giant appeared first on Best Stocks.