First Trust Advisors LP increased its position in LKQ Co. (NASDAQ:LKQ) by 49.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 504,261 shares of the auto parts company’s stock after purchasing an additional 166,097 shares during the quarter. First Trust Advisors LP owned approximately 0.16% of LKQ worth $15,970,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of LKQ. Thompson Siegel & Walmsley LLC bought a new position in LKQ in the second quarter worth $62,981,000. American Century Companies Inc. lifted its holdings in shares of LKQ by 65.4% during the second quarter. American Century Companies Inc. now owns 3,102,685 shares of the auto parts company’s stock valued at $98,976,000 after acquiring an additional 1,226,523 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of LKQ by 29.9% during the second quarter. Janus Henderson Group PLC now owns 4,681,976 shares of the auto parts company’s stock valued at $149,355,000 after acquiring an additional 1,077,847 shares during the period. Fairpointe Capital LLC lifted its holdings in shares of LKQ by 18.8% during the second quarter. Fairpointe Capital LLC now owns 3,646,333 shares of the auto parts company’s stock valued at $116,318,000 after acquiring an additional 576,865 shares during the period. Finally, Formula Growth Ltd. lifted its holdings in shares of LKQ by 500.0% during the second quarter. Formula Growth Ltd. now owns 678,000 shares of the auto parts company’s stock valued at $21,628,000 after acquiring an additional 565,000 shares during the period. 89.46% of the stock is owned by hedge funds and other institutional investors.
LKQ stock opened at $27.73 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.65 and a quick ratio of 1.04. LKQ Co. has a 12-month low of $25.35 and a 12-month high of $43.86. The stock has a market capitalization of $8.86 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 0.84 and a beta of 1.27.
LKQ (NASDAQ:LKQ) last released its quarterly earnings results on Thursday, October 25th. The auto parts company reported $0.56 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.56. LKQ had a return on equity of 14.55% and a net margin of 5.01%. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.12 billion. As a group, sell-side analysts predict that LKQ Co. will post 2.21 EPS for the current fiscal year.
LKQ announced that its Board of Directors has approved a share buyback program on Thursday, October 25th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the auto parts company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of brokerages have issued reports on LKQ. Barrington Research reissued a “buy” rating and set a $45.00 price objective on shares of LKQ in a report on Thursday, July 26th. Zacks Investment Research raised LKQ from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Tuesday, August 7th. ValuEngine raised LKQ from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. BidaskClub cut LKQ from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Raymond James cut their price objective on LKQ from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, October 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $43.25.
In other LKQ news, insider Dominick P. Zarcone purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average cost of $26.55 per share, with a total value of $53,100.00. Following the completion of the acquisition, the insider now directly owns 259,080 shares of the company’s stock, valued at approximately $6,878,574. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Varun Laroyia purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average cost of $26.50 per share, with a total value of $26,500.00. Following the completion of the acquisition, the vice president now directly owns 75,673 shares of the company’s stock, valued at $2,005,334.50. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.
LKQ Company Profile
LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles in North America, Europe, and Taiwan. It operates in three segments: North America, Europe, and Specialty. 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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