KLP Kapitalforvaltning AS Makes New Investment in LKQ Co. (NASDAQ:LKQ)

KLP Kapitalforvaltning AS purchased a new stake in LKQ Co. (NASDAQ:LKQ) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 84,808 shares of the auto parts company’s stock, valued at approximately $3,117,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LKQ. Cromwell Holdings LLC increased its position in shares of LKQ by 81.0% in the fourth quarter. Cromwell Holdings LLC now owns 742 shares of the auto parts company’s stock valued at $27,000 after buying an additional 332 shares in the last quarter. Private Trust Co. NA increased its holdings in LKQ by 31.2% during the 3rd quarter. Private Trust Co. NA now owns 1,256 shares of the auto parts company’s stock valued at $50,000 after acquiring an additional 299 shares in the last quarter. CENTRAL TRUST Co raised its position in LKQ by 618.0% during the fourth quarter. CENTRAL TRUST Co now owns 1,673 shares of the auto parts company’s stock worth $61,000 after acquiring an additional 1,440 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of LKQ in the third quarter valued at about $81,000. Finally, Allworth Financial LP grew its position in shares of LKQ by 107.8% in the fourth quarter. Allworth Financial LP now owns 2,099 shares of the auto parts company’s stock valued at $82,000 after purchasing an additional 1,089 shares during the last quarter. Institutional investors and hedge funds own 95.63% of the company’s stock.

LKQ Stock Performance

NASDAQ LKQ opened at $40.99 on Thursday. The business’s 50-day moving average price is $40.02 and its 200 day moving average price is $38.93. The company has a current ratio of 1.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.68. LKQ Co. has a twelve month low of $35.56 and a twelve month high of $53.68. The company has a market capitalization of $10.62 billion, a PE ratio of 15.65 and a beta of 1.28.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings data on Thursday, February 20th. The auto parts company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.04. LKQ had a net margin of 4.81% and a return on equity of 14.93%. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.42 billion. On average, research analysts predict that LKQ Co. will post 3.57 earnings per share for the current year.

LKQ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.93%. LKQ’s payout ratio is 45.80%.

Insider Buying and Selling

In other news, Director Dominick P. Zarcone sold 5,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $36.14, for a total transaction of $180,700.00. Following the completion of the sale, the director now owns 369,462 shares in the company, valued at approximately $13,352,356.68. The trade was a 1.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 35,000 shares of company stock valued at $1,416,300. 0.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded LKQ from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. increased their price objective on LKQ from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Barrington Research reissued an “outperform” rating and issued a $60.00 target price on shares of LKQ in a research note on Thursday, February 20th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $52.60.

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.