CVA Family Office LLC boosted its stake in shares of LKQ Co. (NASDAQ:LKQ – Get Rating) by 393.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 790 shares of the auto parts company’s stock after purchasing an additional 630 shares during the quarter. CVA Family Office LLC’s holdings in LKQ were worth $39,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in LKQ during the 4th quarter worth $328,484,000. Goldman Sachs Group Inc. boosted its position in LKQ by 84.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,172,143 shares of the auto parts company’s stock worth $280,277,000 after acquiring an additional 2,819,542 shares during the period. River Road Asset Management LLC boosted its position in LKQ by 28.1% during the 1st quarter. River Road Asset Management LLC now owns 5,700,058 shares of the auto parts company’s stock worth $258,840,000 after acquiring an additional 1,250,313 shares during the period. Lazard Asset Management LLC boosted its position in LKQ by 15.7% during the 1st quarter. Lazard Asset Management LLC now owns 6,749,817 shares of the auto parts company’s stock worth $306,509,000 after acquiring an additional 914,423 shares during the period. Finally, BlackRock Inc. boosted its position in LKQ by 4.3% during the 4th quarter. BlackRock Inc. now owns 22,040,628 shares of the auto parts company’s stock worth $1,323,099,000 after acquiring an additional 907,227 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.
Insider Transactions at LKQ
In other news, Director Joseph M. Holsten sold 70,000 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $54.58, for a total transaction of $3,820,600.00. Following the sale, the director now directly owns 136,901 shares of the company’s stock, valued at $7,472,056.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joseph M. Holsten sold 70,000 shares of LKQ stock in a transaction on Friday, July 29th. The stock was sold at an average price of $54.58, for a total transaction of $3,820,600.00. Following the transaction, the director now owns 136,901 shares in the company, valued at $7,472,056.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Mendel sold 1,617 shares of LKQ stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $54.61, for a total value of $88,304.37. Following the transaction, the director now owns 15,203 shares in the company, valued at approximately $830,235.83. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.
LKQ Stock Down 2.6 %
LKQ (NASDAQ:LKQ – Get Rating) last announced its earnings results on Thursday, July 28th. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.39 billion. LKQ had a return on equity of 19.88% and a net margin of 9.21%. LKQ’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 earnings per share. On average, equities analysts predict that LKQ Co. will post 3.95 EPS for the current fiscal year.
LKQ Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Wednesday, August 10th. LKQ’s dividend payout ratio (DPR) is presently 23.75%.
Analysts Set New Price Targets
A number of brokerages have issued reports on LKQ. Guggenheim boosted their price target on LKQ to $70.00 in a research report on Monday, August 15th. MKM Partners initiated coverage on LKQ in a research note on Wednesday, July 13th. They issued a “buy” rating and a $68.00 price objective on the stock. Finally, StockNews.com raised LKQ from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 4th.
LKQ Corporation distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates through three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, and lights, as well as automotive glass products, such as windshields; 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.
- Get a free copy of the StockNews.com research report on LKQ (LKQ)
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