Wedge Capital Management L L P NC Invests $6.85 Million in LKQ Co. (NASDAQ:LKQ)

Wedge Capital Management L L P NC purchased a new position in LKQ Co. (NASDAQ:LKQ) during the fourth quarter, Holdings Channel reports. The fund purchased 143,284 shares of the auto parts company’s stock, valued at approximately $6,848,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LKQ. OFI Invest Asset Management purchased a new stake in shares of LKQ in the 3rd quarter worth about $26,000. CVA Family Office LLC purchased a new position in LKQ during the 4th quarter valued at about $26,000. Private Trust Co. NA increased its stake in LKQ by 228.4% during the 4th quarter. Private Trust Co. NA now owns 647 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 450 shares in the last quarter. NBC Securities Inc. bought a new stake in LKQ during the 3rd quarter valued at about $34,000. Finally, Headinvest LLC bought a new stake in LKQ during the 3rd quarter valued at about $34,000. Institutional investors own 95.63% of the company’s stock.

Insider Buying and Selling at LKQ

In other news, CEO Dominick P. Zarcone sold 200,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $51.97, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.45% of the company’s stock.

LKQ Stock Performance

Shares of NASDAQ LKQ opened at $41.65 on Wednesday. The firm has a 50 day moving average of $51.21 and a 200 day moving average of $48.36. The company has a current ratio of 1.47, a quick ratio of 0.53 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 11.90 and a beta of 1.28. LKQ Co. has a 12-month low of $41.46 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). LKQ had a net margin of 6.75% and a return on equity of 17.24%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the firm earned $1.04 EPS. LKQ’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts anticipate that LKQ Co. will post 4.07 earnings per share for the current year.

LKQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.88%. LKQ’s dividend payout ratio is currently 34.29%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LKQ shares. Stifel Nicolaus restated a “buy” rating and set a $66.00 price objective on shares of LKQ in a research note 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. Roth Mkm reiterated a “buy” rating and issued a $65.00 price target on shares of LKQ in a research note on Tuesday. StockNews.com lowered shares of LKQ from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, Barrington Research reiterated an “outperform” rating and issued a $60.00 price target on shares of LKQ in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.80.

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.