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

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

Several other hedge funds have also modified their holdings of LKQ. Quest Partners LLC lifted its holdings in LKQ by 479,800.0% in the 3rd quarter. Quest Partners LLC now owns 4,799 shares of the auto parts company’s stock worth $192,000 after buying an additional 4,798 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of LKQ by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,488,432 shares of the auto parts company’s stock worth $99,338,000 after acquiring an additional 12,766 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of LKQ by 15.8% in the third quarter. Cerity Partners LLC now owns 20,178 shares of the auto parts company’s stock worth $805,000 after acquiring an additional 2,759 shares in the last quarter. Private Trust Co. NA boosted its holdings in LKQ by 31.2% in the third quarter. Private Trust Co. NA now owns 1,256 shares of the auto parts company’s stock valued at $50,000 after purchasing an additional 299 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in LKQ by 25.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 207,055 shares of the auto parts company’s stock worth $8,266,000 after purchasing an additional 42,634 shares during the last quarter. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Dominick P. Zarcone sold 15,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.32, for a total transaction of $634,800.00. Following the completion of the transaction, the director now owns 336,135 shares in the company, valued at approximately $14,225,233.20. This represents a 4.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 35,000 shares of company stock valued at $1,416,300. 0.55% of the stock is currently owned by insiders.

LKQ Price Performance

Shares of NASDAQ LKQ opened at $40.99 on Thursday. The business has a 50 day simple moving average of $40.02 and a 200-day simple moving average of $38.93. 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 price-to-earnings ratio of 15.65 and a beta of 1.28. 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 (NASDAQ:LKQ) last issued its earnings results on Thursday, February 20th. The auto parts company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. LKQ had a net margin of 4.81% and a return on equity of 14.93%. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.42 billion. As a group, equities research analysts expect that LKQ Co. will post 3.57 earnings per share for the current year.

LKQ Announces Dividend

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

Analyst Ratings Changes

LKQ has been the subject of several research analyst reports. Barrington Research reiterated an “outperform” rating and set a $60.00 target price on shares of LKQ in a research note on Thursday, February 20th. StockNews.com upgraded shares of LKQ from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of LKQ from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $52.60.

LKQ Profile

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.