Bank of Montreal Can Acquires 47,138 Shares of LKQ Co. (NASDAQ:LKQ)

Bank of Montreal Can grew its holdings in LKQ Co. (NASDAQ:LKQ) by 13.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 391,894 shares of the auto parts company’s stock after buying an additional 47,138 shares during the quarter. Bank of Montreal Can’s holdings in LKQ were worth $16,311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of LKQ. Vanguard Group Inc. raised its holdings in LKQ by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,897,480 shares of the auto parts company’s stock valued at $1,650,234,000 after acquiring an additional 656,883 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of LKQ by 7.9% in the second 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 purchasing an additional 875,420 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of LKQ by 9.5% during 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 purchasing an additional 977,585 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in LKQ by 1.2% during the 1st 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 in the last quarter. Finally, Boston Partners boosted its stake in LKQ by 9.5% in the 1st 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 period. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

LKQ Price Performance

LKQ stock opened at $40.37 on Friday. The firm has a 50 day simple moving average of $40.71 and a two-hundred day simple moving average of $43.79. The stock has a market cap of $10.77 billion, a PE ratio of 13.11 and a beta of 1.29. LKQ Co. has a one year low of $35.57 and a one year high of $53.68. 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 released its 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 net margin of 5.03% and a return on equity of 15.33%. The firm 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 company earned $1.09 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that LKQ Co. will post 3.55 EPS for the current fiscal year.

LKQ Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.97%. LKQ’s payout ratio is 38.96%.

Insiders Place Their Bets

In other LKQ news, SVP Matthew J. Mckay purchased 2,500 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were purchased at an average cost of $39.75 per share, with a total value of $99,375.00. Following the completion of the purchase, the senior vice president now owns 94,670 shares of the company’s stock, valued at approximately $3,763,132.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Matthew J. Mckay acquired 2,500 shares of LKQ stock in a transaction dated Monday, July 29th. The shares were purchased at an average cost of $39.75 per share, with a total value of $99,375.00. Following the completion of the purchase, the senior vice president now owns 94,670 shares of the company’s stock, valued at $3,763,132.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andrew C. Clarke bought 7,600 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average price of $39.70 per share, with a total value of $301,720.00. Following the completion of the acquisition, the director now directly owns 10,519 shares in the company, valued at $417,604.30. The disclosure for this purchase can be found here. Insiders bought a total of 12,600 shares of company stock valued at $500,870 over the last quarter. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LKQ. StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. upped their target price on shares of LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th. Roth Mkm reissued a “buy” rating and issued a $59.00 price target on shares of LKQ in a report on Thursday, September 12th. Robert W. Baird decreased their price target on shares of LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, Barrington Research reiterated an “outperform” rating and issued a $60.00 price objective on shares of LKQ in a research report on Wednesday, September 18th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.