Quarry LP Purchases 1,919 Shares of LKQ Co. (NASDAQ:LKQ)

Quarry LP increased its position in shares of LKQ Co. (NASDAQ:LKQ) by 849.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,145 shares of the auto parts company’s stock after purchasing an additional 1,919 shares during the period. Quarry LP’s holdings in LKQ were worth $89,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of LKQ by 2.2% during the first quarter. Vanguard Group Inc. now owns 30,897,480 shares of the auto parts company’s stock valued at $1,650,234,000 after buying an additional 656,883 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in LKQ by 7.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,944,496 shares of the auto parts company’s stock valued at $496,772,000 after acquiring an additional 875,420 shares during the period. Wellington Management Group LLP grew its position in LKQ by 9.5% in the 4th quarter. Wellington Management Group LLP now owns 11,307,753 shares of the auto parts company’s stock valued at $540,398,000 after acquiring an additional 977,585 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in LKQ by 1.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,113,931 shares of the auto parts company’s stock worth $486,775,000 after purchasing an additional 111,124 shares during the period. Finally, Boston Partners lifted its position in shares of LKQ by 9.5% during the first quarter. Boston Partners now owns 8,220,571 shares of the auto parts company’s stock worth $438,108,000 after purchasing an additional 712,698 shares during the last quarter. 95.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LKQ has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Robert W. Baird reduced their target price on shares of LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Barrington Research reiterated an “outperform” rating and issued a $60.00 price target on shares of LKQ in a report on Wednesday, September 18th. Roth Mkm reissued a “buy” rating and issued a $59.00 price objective on shares of LKQ in a research note on Thursday, September 12th. Finally, StockNews.com lowered LKQ from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, LKQ has an average rating of “Moderate Buy” and an average price target of $58.00.

LKQ Price Performance

NASDAQ LKQ opened at $39.37 on Thursday. The company has a market cap of $10.50 billion, a PE ratio of 12.78 and a beta of 1.29. The firm’s 50 day moving average price is $40.49 and its 200-day moving average price is $43.57. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.70 and a current ratio of 1.75. LKQ Co. has a 52-week low of $35.57 and a 52-week high of $53.68.

LKQ (NASDAQ:LKQ) last announced its earnings results on Thursday, July 25th. The auto parts company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.05). The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.87 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $1.09 EPS. Sell-side analysts forecast that LKQ Co. will post 3.55 EPS for the current fiscal year.

LKQ Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Thursday, August 15th. LKQ’s payout ratio is 38.96%.

Insider Buying and Selling at LKQ

In other news, SVP Matthew J. Mckay acquired 2,500 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were purchased at an average price of $39.75 per share, with a total value of $99,375.00. Following the transaction, the senior vice president now directly owns 94,670 shares in the company, valued at $3,763,132.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other LKQ news, Director Andrew C. Clarke purchased 7,600 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now owns 10,519 shares in the company, valued at approximately $417,604.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew J. Mckay purchased 2,500 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were acquired at an average price of $39.75 per share, for a total transaction of $99,375.00. Following the purchase, the senior vice president now directly owns 94,670 shares of the company’s stock, valued at approximately $3,763,132.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 12,600 shares of company stock valued at $500,870. 0.55% of the stock is currently owned by insiders.

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.