Oppenheimer Asset Management Inc. raised its holdings in shares of LKQ Co. (NASDAQ:LKQ) by 11.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 429,505 shares of the auto parts company’s stock after buying an additional 42,726 shares during the period. Oppenheimer Asset Management Inc. owned about 0.14% of LKQ worth $13,602,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in LKQ by 1.3% during the 2nd quarter. BlackRock Inc. now owns 19,042,477 shares of the auto parts company’s stock valued at $607,456,000 after purchasing an additional 247,524 shares during the period. Janus Henderson Group PLC increased its position in LKQ by 29.9% during the 2nd quarter. Janus Henderson Group PLC now owns 4,681,976 shares of the auto parts company’s stock valued at $149,355,000 after purchasing an additional 1,077,847 shares during the period. Fairpointe Capital LLC boosted its holdings in shares of LKQ by 18.8% in the 2nd quarter. Fairpointe Capital LLC now owns 3,646,333 shares of the auto parts company’s stock valued at $116,318,000 after buying an additional 576,865 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of LKQ by 2.5% in the 2nd quarter. Northern Trust Corp now owns 3,526,926 shares of the auto parts company’s stock valued at $112,509,000 after buying an additional 85,952 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of LKQ by 65.4% in the 2nd quarter. American Century Companies Inc. now owns 3,102,685 shares of the auto parts company’s stock valued at $98,976,000 after buying an additional 1,226,523 shares in the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Varun Laroyia purchased 1,000 shares of the stock in a transaction dated Friday, October 26th. The shares were purchased at an average price of $26.50 per share, with a total value of $26,500.00. Following the transaction, the vice president now owns 75,673 shares in the company, valued at approximately $2,005,334.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Dominick P. Zarcone purchased 2,000 shares of the stock in a transaction dated Friday, October 26th. The shares were purchased at an average cost of $26.55 per share, for a total transaction of $53,100.00. Following the transaction, the insider now owns 259,080 shares in the company, valued at approximately $6,878,574. The disclosure for this purchase can be found here. 0.80% of the stock is owned by corporate insiders.
LKQ (NASDAQ:LKQ) last issued its quarterly earnings results on Thursday, October 25th. The auto parts company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. LKQ had a net margin of 5.01% and a return on equity of 14.55%. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.12 billion. Equities research analysts expect that LKQ Co. will post 2.21 earnings per share for the current year.
LKQ declared that its board has approved a share buyback plan on Thursday, October 25th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
LKQ has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of LKQ from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Tuesday, August 7th. ValuEngine upgraded shares of LKQ from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Barrington Research restated a “buy” rating and set a $45.00 price objective on shares of LKQ in a research note on Thursday, July 26th. Finally, BidaskClub cut shares of LKQ from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 26th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $43.25.
LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles in North America, Europe, and Taiwan. It operates in 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.
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