Fishman Jay A Ltd. MI cut its position in shares of LKQ Co. (NASDAQ:LKQ) by 12.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 153,250 shares of the auto parts company’s stock after selling 21,000 shares during the period. LKQ comprises about 0.9% of Fishman Jay A Ltd. MI’s investment portfolio, making the stock its 26th largest position. Fishman Jay A Ltd. MI’s holdings in LKQ were worth $4,820,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of LKQ by 0.9% during the second quarter. Vanguard Group Inc. now owns 32,048,696 shares of the auto parts company’s stock valued at $852,816,000 after purchasing an additional 293,379 shares during the period. BlackRock Inc. grew its position in LKQ by 0.6% in the second quarter. BlackRock Inc. now owns 20,148,889 shares of the auto parts company’s stock valued at $536,161,000 after acquiring an additional 117,889 shares during the period. Invesco Ltd. grew its position in LKQ by 9.3% in the second quarter. Invesco Ltd. now owns 5,772,934 shares of the auto parts company’s stock valued at $153,618,000 after acquiring an additional 491,522 shares during the period. Southpoint Capital Advisors LP grew its position in LKQ by 1.0% in the second quarter. Southpoint Capital Advisors LP now owns 5,000,000 shares of the auto parts company’s stock valued at $133,050,000 after acquiring an additional 50,000 shares during the period. Finally, New Mountain Vantage Advisers L.L.C. grew its position in LKQ by 81.8% in the second quarter. New Mountain Vantage Advisers L.L.C. now owns 4,704,201 shares of the auto parts company’s stock valued at $125,179,000 after acquiring an additional 2,117,077 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.
In related news, Director Blythe J. Mcgarvie sold 13,692 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.62, for a total transaction of $487,709.04. Following the completion of the transaction, the director now directly owns 20,993 shares of the company’s stock, valued at $747,770.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.
A number of analysts have weighed in on the company. ValuEngine cut LKQ from a “hold” rating to a “sell” rating in a research report on Saturday, October 5th. Jefferies Financial Group boosted their price objective on LKQ from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus set a $44.00 price objective on LKQ and gave the stock a “buy” rating in a research note on Friday, November 1st. Wellington Shields lowered LKQ from a “buy” rating to a “gradually accumulate” rating in a research note on Thursday, July 25th. Finally, Raymond James lowered LKQ from an “outperform” rating to a “market perform” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $38.44.
LKQ stock traded up $0.10 on Friday, reaching $35.20. The company’s stock had a trading volume of 1,899,200 shares, compared to its average volume of 2,661,045. The business’s fifty day moving average price is $31.89 and its 200 day moving average price is $28.23. LKQ Co. has a twelve month low of $22.74 and a twelve month high of $36.11. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.93 and a current ratio of 2.18. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.09 and a beta of 1.32.
LKQ (NASDAQ:LKQ) last issued its quarterly earnings results on Thursday, October 31st. The auto parts company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. LKQ had a return on equity of 14.79% and a net margin of 3.50%. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the firm posted $0.56 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts forecast that LKQ Co. will post 2.34 earnings per share for the current year.
LKQ Company Profile
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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