DNB Asset Management AS Raises Stake in LKQ Co. (NASDAQ:LKQ)

DNB Asset Management AS lifted its stake in LKQ Co. (NASDAQ:LKQ) by 18.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,974 shares of the auto parts company’s stock after buying an additional 7,914 shares during the period. DNB Asset Management AS’s holdings in LKQ were worth $2,078,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LKQ. Keynote Financial Services LLC bought a new position in shares of LKQ during the first quarter valued at approximately $228,000. EverSource Wealth Advisors LLC grew its stake in shares of LKQ by 3.8% in the first quarter. EverSource Wealth Advisors LLC now owns 83,880 shares of the auto parts company’s stock worth $4,480,000 after acquiring an additional 3,093 shares during the last quarter. Boston Partners increased its holdings in shares of LKQ by 9.5% during the first quarter. Boston Partners now owns 8,220,571 shares of the auto parts company’s stock valued at $438,108,000 after acquiring an additional 712,698 shares in the last quarter. Cetera Advisors LLC boosted its stake in LKQ by 135.3% in the 1st quarter. Cetera Advisors LLC now owns 27,170 shares of the auto parts company’s stock worth $1,451,000 after purchasing an additional 15,621 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in LKQ by 165.3% during the 1st quarter. Cetera Investment Advisers now owns 45,940 shares of the auto parts company’s stock valued at $2,454,000 after purchasing an additional 28,623 shares during the last quarter. Institutional investors own 95.63% of the company’s stock.

Insider Buying and Selling

In other LKQ news, Director Andrew C. Clarke purchased 7,600 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were acquired at an average cost of $39.70 per share, with a total value of $301,720.00. Following the completion of the acquisition, the director now directly owns 10,519 shares in the company, valued at $417,604.30. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Andrew C. Clarke bought 7,600 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $39.70 per share, for a total transaction of $301,720.00. Following the completion of the transaction, the director now owns 10,519 shares of the company’s stock, valued at $417,604.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Justin L. Jude purchased 2,500 shares of the business’s stock in a transaction on Friday, July 26th. The shares were purchased at an average price of $39.91 per share, with a total value of $99,775.00. Following the acquisition, the chief executive officer now directly owns 207,515 shares in the company, valued at $8,281,923.65. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 13,084 shares of company stock valued at $521,096. 0.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LKQ. Roth Mkm reiterated a “buy” rating and set a $65.00 price target on shares of LKQ in a report on Thursday, July 25th. Robert W. Baird lowered their price objective on LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Barrington Research reissued an “outperform” rating and issued a $60.00 target price on shares of LKQ in a report on Thursday, July 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price target on shares of LKQ in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.80.

LKQ Stock Performance

Shares of LKQ stock traded up $0.32 during trading hours on Tuesday, reaching $39.59. 1,326,480 shares of the stock traded hands, compared to its average volume of 1,805,590. The company has a 50 day moving average price of $42.14 and a 200 day moving average price of $46.30. LKQ Co. has a one year low of $35.57 and a one year high of $54.60. The company has a quick ratio of 0.70, a current ratio of 1.75 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 12.88 and a beta of 1.29.

LKQ (NASDAQ:LKQ) last announced its earnings results on Thursday, July 25th. The auto parts company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.87 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. On average, equities research analysts expect that LKQ Co. will post 3.6 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, August 15th. LKQ’s dividend payout ratio (DPR) is currently 38.96%.

About LKQ

LKQ Corporation engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories. It operates through four segments: Wholesale-North America, Europe, Specialty, and Self Service. The company distributes bumper covers, automotive body panels, and lights, as well as mechanical automotive parts and accessories; 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.