DnB Asset Management AS Lowers Stock Holdings in LKQ Co. (NASDAQ:LKQ)

DnB Asset Management AS cut its holdings in shares of LKQ Co. (NASDAQ:LKQ) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,892 shares of the auto parts company’s stock after selling 3,226 shares during the period. DnB Asset Management AS’s holdings in LKQ were worth $1,760,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cerity Partners LLC boosted its holdings in LKQ by 15.8% in the third quarter. Cerity Partners LLC now owns 20,178 shares of the auto parts company’s stock valued at $805,000 after purchasing an additional 2,759 shares during the period. The Manufacturers Life Insurance Company raised its position in LKQ by 25.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 207,055 shares of the auto parts company’s stock valued at $8,266,000 after purchasing an additional 42,634 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of LKQ by 11.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 30,447 shares of the auto parts company’s stock valued at $1,215,000 after buying an additional 3,138 shares during the period. Public Sector Pension Investment Board grew its position in shares of LKQ by 8.9% during the third quarter. Public Sector Pension Investment Board now owns 10,975 shares of the auto parts company’s stock worth $438,000 after buying an additional 900 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of LKQ by 88.3% during the third quarter. Captrust Financial Advisors now owns 77,345 shares of the auto parts company’s stock worth $3,088,000 after buying an additional 36,259 shares during the period. Institutional investors and hedge funds own 95.63% of the company’s stock.

LKQ Trading Up 1.0 %

NASDAQ LKQ opened at $42.97 on Wednesday. The firm’s fifty day moving average price is $40.30 and its 200 day moving average price is $39.00. LKQ Co. has a 12 month low of $35.56 and a 12 month high of $53.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.71 and a quick ratio of 0.67. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 16.40 and a beta of 1.28.

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

LKQ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.79%. LKQ’s dividend payout ratio (DPR) is presently 45.80%.

Insider Buying and Selling

In other LKQ news, Director Dominick P. Zarcone sold 5,000 shares of the stock in a transaction that occurred on 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 directly owns 369,462 shares of the company’s stock, valued at approximately $13,352,356.68. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 50,000 shares of company stock worth $2,048,550 in the last 90 days. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

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