Ballentine Partners LLC Increases Stock Position in LKQ Co. (NASDAQ:LKQ)

Ballentine Partners LLC boosted its position in LKQ Co. (NASDAQ:LKQ) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,938 shares of the auto parts company’s stock after acquiring an additional 780 shares during the period. Ballentine Partners LLC’s holdings in LKQ were worth $580,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LKQ. Rothschild Investment LLC bought a new stake in shares of LKQ in the second quarter worth about $33,000. Benjamin F. Edwards & Company Inc. lifted its holdings in LKQ by 40.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 777 shares of the auto parts company’s stock worth $37,000 after buying an additional 225 shares during the period. Quarry LP grew its position in shares of LKQ by 65.1% in the 4th quarter. Quarry LP now owns 900 shares of the auto parts company’s stock worth $43,000 after buying an additional 355 shares during the last quarter. CVA Family Office LLC increased its stake in shares of LKQ by 54.2% during the first quarter. CVA Family Office LLC now owns 825 shares of the auto parts company’s stock valued at $44,000 after buying an additional 290 shares during the period. Finally, Banque Cantonale Vaudoise raised its holdings in shares of LKQ by 29.8% during the second quarter. Banque Cantonale Vaudoise now owns 1,211 shares of the auto parts company’s stock valued at $50,000 after acquiring an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.

LKQ Trading Down 2.5 %

NASDAQ:LKQ opened at $38.98 on Wednesday. LKQ Co. has a one year low of $35.57 and a one year high of $53.68. The company’s 50-day simple moving average is $41.49 and its 200 day simple moving average is $44.82. The firm has a market capitalization of $10.26 billion, a P/E ratio of 12.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.75 and a quick ratio of 0.70.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). LKQ had a return on equity of 15.33% and a net margin of 5.03%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts forecast that LKQ Co. will post 3.6 EPS for the current fiscal year.

LKQ Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, August 15th. LKQ’s dividend payout ratio is presently 38.96%.

Insider Buying and Selling

In other news, CEO Justin L. Jude purchased 2,500 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $39.91 per share, for a total transaction of $99,775.00. Following the completion of the acquisition, the chief executive officer now directly owns 207,515 shares in the company, valued at approximately $8,281,923.65. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other LKQ news, Director Andrew C. Clarke acquired 7,600 shares of LKQ stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average cost of $39.70 per share, for a total transaction of $301,720.00. Following the acquisition, the director now owns 10,519 shares of the company’s stock, valued at $417,604.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Justin L. Jude bought 2,500 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $39.91 per share, with a total value of $99,775.00. Following the transaction, the chief executive officer now owns 207,515 shares in the company, valued at approximately $8,281,923.65. The disclosure for this purchase can be found here. Insiders have bought a total of 12,600 shares of company stock worth $500,870 in the last quarter. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LKQ shares. StockNews.com upgraded shares of LKQ from a “hold” rating to a “buy” rating in a report on Monday. Roth Mkm reiterated a “buy” rating and set a $65.00 price target on shares of LKQ in a research report on Thursday, July 25th. Barrington Research reissued an “outperform” rating and issued a $60.00 price target on shares of LKQ in a research note on Thursday, July 25th. Finally, Robert W. Baird cut their price objective on LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $60.80.

LKQ Company 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.