Bridgewater Associates LP Raises Position in LKQ Co. (NASDAQ:LKQ)

Bridgewater Associates LP grew its position in LKQ Co. (NASDAQ:LKQ) by 83.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,662 shares of the auto parts company’s stock after acquiring an additional 60,019 shares during the period. Bridgewater Associates LP’s holdings in LKQ were worth $5,256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LKQ. Catalyst Capital Advisors LLC purchased a new stake in LKQ during the third quarter worth about $25,000. Rothschild Investment LLC purchased a new stake in LKQ during the second quarter worth about $33,000. Allworth Financial LP boosted its holdings in LKQ by 94.2% during the third quarter. Allworth Financial LP now owns 1,010 shares of the auto parts company’s stock worth $40,000 after buying an additional 490 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in LKQ by 33.5% during the third quarter. Bruce G. Allen Investments LLC now owns 1,151 shares of the auto parts company’s stock worth $46,000 after acquiring an additional 289 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its position in LKQ by 29.8% during the second quarter. Banque Cantonale Vaudoise now owns 1,211 shares of the auto parts company’s stock worth $50,000 after acquiring an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.

LKQ Stock Performance

NASDAQ:LKQ opened at $39.29 on Friday. The firm has a 50 day simple moving average of $38.64 and a 200-day simple moving average of $40.68. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.72 and a quick ratio of 0.67. The firm has a market cap of $10.21 billion, a PE ratio of 14.66 and a beta of 1.29. LKQ Co. has a 1-year low of $35.57 and a 1-year high of $53.68.

LKQ (NASDAQ:LKQ) last posted its quarterly earnings data on Thursday, October 24th. The auto parts company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.65 billion. LKQ had a net margin of 4.90% and a return on equity of 15.15%. The company’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 earnings per share. On average, equities analysts expect that LKQ Co. will post 3.43 EPS for the current year.

LKQ Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.05%. The ex-dividend date was Thursday, November 14th. LKQ’s dividend payout ratio (DPR) is 44.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LKQ shares. Barrington Research restated an “outperform” rating and set a $60.00 target price on shares of LKQ in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on shares of LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Stifel Nicolaus cut their target price on shares of LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, October 25th. StockNews.com upgraded shares of LKQ from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Robert W. Baird cut their target price on shares of LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, LKQ currently has a consensus rating of “Buy” and a consensus target price of $53.80.

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.