Nordea Investment Management AB increased its stake in LKQ Corp. (NASDAQ:LKQ) by 273.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,709 shares of the company’s stock after buying an additional 226,737 shares during the period. Nordea Investment Management AB’s holdings in LKQ Corp. were worth $9,818,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Kalmar Investments Inc. DE raised its position in shares of LKQ Corp. by 5.2% in the second quarter. Kalmar Investments Inc. DE now owns 1,271,874 shares of the company’s stock valued at $40,318,000 after buying an additional 63,061 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of LKQ Corp. by 0.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 987,087 shares of the company’s stock valued at $31,291,000 after buying an additional 8,120 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of LKQ Corp. by 16.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 23,131 shares of the company’s stock valued at $733,000 after buying an additional 3,303 shares in the last quarter. Montag & Caldwell LLC raised its position in shares of LKQ Corp. by 0.3% in the second quarter. Montag & Caldwell LLC now owns 43,483 shares of the company’s stock valued at $1,378,000 after buying an additional 150 shares in the last quarter. Finally, SignalPoint Asset Management LLC bought a new position in shares of LKQ Corp. during the second quarter valued at approximately $509,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.
Shares of LKQ Corp. (NASDAQ:LKQ) traded up 0.58% during midday trading on Monday, hitting $33.03. 1,589,375 shares of the company’s stock were exchanged. The stock has a market cap of $10.14 billion, a PE ratio of 22.78 and a beta of 0.72. The stock’s 50 day moving average is $35.01 and its 200-day moving average is $33.53. LKQ Corp. has a 1-year low of $23.95 and a 1-year high of $36.35.
LKQ Corp. (NASDAQ:LKQ) last released its earnings results on Thursday, July 28th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.07. LKQ Corp. had a net margin of 5.59% and a return on equity of 15.82%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period last year, the company earned $0.39 earnings per share. The company’s quarterly revenue was up 33.3% on a year-over-year basis. Analysts predict that LKQ Corp. will post $1.84 earnings per share for the current fiscal year.
LKQ has been the topic of several recent research reports. Zacks Investment Research downgraded shares of LKQ Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 11th. Susquehanna set a $42.00 target price on shares of LKQ Corp. and gave the stock a “buy” rating in a research note on Wednesday, October 5th. FBR & Co reaffirmed an “outperform” rating and set a $40.00 target price on shares of LKQ Corp. in a research note on Wednesday, October 5th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $36.00 target price on shares of LKQ Corp. in a research note on Tuesday, June 28th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. LKQ Corp. has a consensus rating of “Buy” and a consensus target price of $38.25.
In related news, insider Robert L. Wagman sold 19,700 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $34.51, for a total value of $679,847.00. Following the sale, the insider now directly owns 358,654 shares of the company’s stock, valued at $12,377,149.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph M. Holsten sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $36.00, for a total transaction of $576,000.00. Following the completion of the sale, the director now directly owns 280,447 shares in the company, valued at $10,096,092. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
LKQ Corp. Company Profile
LKQ Corporation (LKQ) is a global distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories. The company distributes a range of products to collision and mechanical repair shops, including aftermarket collision and mechanical products, and recycled collision and mechanical products.
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