Summit Global Investments Sells 20,650 Shares of LKQ Co. (NASDAQ:LKQ)

Summit Global Investments trimmed its position in shares of LKQ Co. (NASDAQ:LKQ) by 55.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 16,317 shares of the auto parts company’s stock after selling 20,650 shares during the quarter. Summit Global Investments’ holdings in LKQ were worth $780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LKQ. OFI Invest Asset Management bought a new position in shares of LKQ in the third quarter worth approximately $26,000. CVA Family Office LLC purchased a new position in LKQ in the 4th quarter worth approximately $26,000. Private Trust Co. NA lifted its position in LKQ by 228.4% in the 4th quarter. Private Trust Co. NA now owns 647 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 450 shares in the last quarter. NBC Securities Inc. purchased a new stake in LKQ during the 3rd quarter valued at $34,000. Finally, Headinvest LLC bought a new stake in shares of LKQ in the 3rd quarter worth $34,000. 95.63% of the stock is currently owned by institutional investors.

Insider Transactions at LKQ

In other LKQ news, CEO Dominick P. Zarcone sold 200,000 shares of LKQ stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $51.97, for a total transaction of $10,394,000.00. Following the transaction, the chief executive officer now owns 386,522 shares of the company’s stock, valued at $20,087,548.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

LKQ Stock Performance

LKQ opened at $43.85 on Friday. The company’s 50 day moving average is $49.98 and its 200 day moving average is $47.91. The company has a current ratio of 1.70, a quick ratio of 0.68 and a debt-to-equity ratio of 0.67. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 14.24 and a beta of 1.33. LKQ Co. has a 12-month low of $41.30 and a 12-month high of $59.38.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings results on Tuesday, April 23rd. The auto parts company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.13). The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.76 billion. LKQ had a return on equity of 15.94% and a net margin of 5.79%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 EPS. On average, equities research analysts predict that LKQ Co. will post 3.94 EPS for the current year.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Wednesday, May 15th. LKQ’s payout ratio is 38.96%.

Wall Street Analysts Forecast Growth

LKQ has been the topic of several recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price objective on shares of LKQ in a research report on Tuesday, April 9th. JPMorgan Chase & Co. reduced their price target on shares of LKQ from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Robert W. Baird decreased their price objective on shares of LKQ from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Roth Mkm restated a “buy” rating and issued a $65.00 target price on shares of LKQ in a report on Tuesday, April 23rd. Finally, Barrington Research reiterated an “outperform” rating and set a $60.00 target price on shares of LKQ in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.60.

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.