Mitsubishi UFJ Trust & Banking Corp decreased its stake in LKQ Co. (NASDAQ:LKQ) by 61.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 237,607 shares of the auto parts company’s stock after selling 386,165 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in LKQ were worth $7,525,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of LKQ. Piedmont Investment Advisors LLC purchased a new stake in LKQ in the 2nd quarter valued at $115,000. Patriot Financial Group Insurance Agency LLC raised its position in LKQ by 2,700.0% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 4,200 shares of the auto parts company’s stock valued at $133,000 after purchasing an additional 4,050 shares during the last quarter. Assetmark Inc. raised its position in LKQ by 7,663.0% in the 2nd quarter. Assetmark Inc. now owns 4,192 shares of the auto parts company’s stock valued at $134,000 after purchasing an additional 4,138 shares during the last quarter. Captrust Financial Advisors raised its position in LKQ by 229.9% in the 2nd quarter. Captrust Financial Advisors now owns 4,632 shares of the auto parts company’s stock valued at $148,000 after purchasing an additional 3,228 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in LKQ by 119.2% in the 2nd quarter. Macquarie Group Ltd. now owns 5,700 shares of the auto parts company’s stock valued at $182,000 after purchasing an additional 3,100 shares during the last quarter. Institutional investors and hedge funds own 90.09% of the company’s stock.
Shares of LKQ stock opened at $25.63 on Friday. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.80 and a beta of 1.28. The company has a quick ratio of 1.04, a current ratio of 2.65 and a debt-to-equity ratio of 0.87. LKQ Co. has a one year low of $25.35 and a one year high of $43.86.
LKQ declared that its Board of Directors has initiated a share buyback plan on Thursday, October 25th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the auto parts company to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
LKQ has been the subject of a number of analyst reports. BidaskClub downgraded shares of LKQ from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. ValuEngine downgraded shares of LKQ from a “hold” rating to a “sell” rating in a research report on Thursday, August 23rd. Zacks Investment Research upgraded shares of LKQ from a “sell” rating to a “hold” rating in a research report on Wednesday. TheStreet downgraded shares of LKQ from a “b-” rating to a “c+” rating in a research report on Tuesday, October 23rd. Finally, Barrington Research restated a “buy” rating and set a $45.00 price objective on shares of LKQ in a research report on Monday, October 22nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $43.25.
In related news, VP Varun Laroyia purchased 1,000 shares of the business’s stock in a transaction dated Friday, October 26th. The stock was acquired at an average price of $26.50 per share, for a total transaction of $26,500.00. Following the acquisition, the vice president now directly owns 75,673 shares of the company’s stock, valued at approximately $2,005,334.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dominick P. Zarcone purchased 2,000 shares of the business’s stock in a transaction dated Friday, October 26th. The stock was bought at an average price of $26.55 per share, with a total value of $53,100.00. Following the acquisition, the insider now directly owns 259,080 shares in the company, valued at $6,878,574. The disclosure for this purchase can be found here. Company insiders own 0.80% of the company’s stock.
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LKQ Company Profile
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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