Fmr LLC boosted its position in LKQ Co. (NASDAQ:LKQ) by 157.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,072,636 shares of the auto parts company’s stock after purchasing an additional 3,100,431 shares during the period. Fmr LLC owned approximately 1.59% of LKQ worth $160,650,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Northern Trust Corp increased its holdings in shares of LKQ by 2.5% in the second quarter. Northern Trust Corp now owns 3,526,926 shares of the auto parts company’s stock valued at $112,509,000 after buying an additional 85,952 shares in the last quarter. North Run Capital LP bought a new position in shares of LKQ in the second quarter valued at $10,687,000. Marshall Wace LLP bought a new position in shares of LKQ in the second quarter valued at $1,429,000. Oakbrook Investments LLC increased its holdings in shares of LKQ by 39.0% in the third quarter. Oakbrook Investments LLC now owns 33,865 shares of the auto parts company’s stock valued at $1,073,000 after buying an additional 9,500 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of LKQ by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 2,619,800 shares of the auto parts company’s stock valued at $83,573,000 after buying an additional 9,586 shares in the last quarter. Hedge funds and other institutional investors own 90.09% of the company’s stock.
Shares of NASDAQ:LKQ opened at $25.63 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 2.65. LKQ Co. has a 12-month low of $25.35 and a 12-month high of $43.86. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 0.80 and a beta of 1.28.
LKQ (NASDAQ:LKQ) last announced its earnings results on Thursday, October 25th. The auto parts company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. LKQ had a net margin of 5.01% and a return on equity of 14.55%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.12 billion. On average, sell-side analysts forecast that LKQ Co. will post 2.21 earnings per share for the current fiscal year.
LKQ declared that its board has approved a stock repurchase plan on Thursday, October 25th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to purchase up to 5.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Dominick P. Zarcone bought 2,000 shares of the business’s stock in a transaction on Friday, October 26th. The shares were bought at an average cost of $26.55 per share, with a total value of $53,100.00. Following the purchase, the insider now directly owns 259,080 shares in the company, valued at $6,878,574. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Varun Laroyia purchased 1,000 shares of the stock in a transaction dated Friday, October 26th. The shares were bought at an average price of $26.50 per share, for a total transaction of $26,500.00. Following the completion of the acquisition, the vice president now owns 75,673 shares in the company, valued at $2,005,334.50. The disclosure for this purchase can be found here. 0.80% of the stock is owned by insiders.
LKQ has been the topic of several research reports. ValuEngine raised LKQ from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. Zacks Investment Research cut LKQ from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Barrington Research reaffirmed a “buy” rating and issued a $45.00 price target on shares of LKQ in a report on Monday, October 22nd. BidaskClub cut LKQ from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 26th. Finally, TheStreet cut LKQ from a “b-” rating to a “c+” rating in a report on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $43.25.
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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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