LKQ Co. (LKQ) Holdings Reduced by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its stake in LKQ Co. (NASDAQ:LKQ) by 49.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,388 shares of the auto parts company’s stock after selling 83,790 shares during the period. Sterling Capital Management LLC’s holdings in LKQ were worth $2,673,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in LKQ. Victory Capital Management Inc. grew its position in shares of LKQ by 30.7% during the third quarter. Victory Capital Management Inc. now owns 1,625,526 shares of the auto parts company’s stock worth $51,480,000 after acquiring an additional 381,867 shares during the last quarter. Financial Counselors Inc. grew its position in LKQ by 10.7% in the 3rd quarter. Financial Counselors Inc. now owns 54,686 shares of the auto parts company’s stock valued at $1,732,000 after buying an additional 5,291 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew 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 buying an additional 4,050 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in LKQ by 21.1% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,719,735 shares of the auto parts company’s stock valued at $117,804,000 after buying an additional 649,352 shares during the last quarter. Finally, Mendel Money Management purchased a new position in LKQ in the 3rd quarter valued at $2,553,000. Institutional investors own 89.46% of the company’s stock.

LKQ opened at $27.87 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.65 and a quick ratio of 1.04. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 0.84 and a beta of 1.27. LKQ Co. has a 12 month low of $25.35 and a 12 month high of $43.86.

LKQ (NASDAQ:LKQ) last posted its quarterly earnings results on Thursday, October 25th. The auto parts company reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.12 billion. LKQ had a return on equity of 14.55% and a net margin of 5.01%. As a group, sell-side analysts forecast that LKQ Co. will post 2.21 EPS for the current fiscal year.

LKQ announced that its Board of Directors has initiated a share buyback program on Thursday, October 25th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the auto parts company to buy up to 5.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

In other LKQ news, insider Dominick P. Zarcone purchased 2,000 shares of the stock in a transaction on Friday, October 26th. The stock was bought at an average price of $26.55 per share, for a total transaction of $53,100.00. Following the acquisition, the insider now directly owns 259,080 shares of the company’s stock, valued at $6,878,574. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Varun Laroyia bought 1,000 shares of the firm’s 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 acquisition, the vice president now directly owns 75,673 shares in the company, valued at approximately $2,005,334.50. The disclosure for this purchase can be found here. 0.80% of the stock is owned by insiders.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of LKQ from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Raymond James lowered their price objective on shares of LKQ from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. ValuEngine downgraded LKQ from a “hold” rating to a “sell” rating in a report on Thursday, August 23rd. TheStreet downgraded LKQ from a “b-” rating to a “c+” rating in a report on Tuesday, October 23rd. Finally, BidaskClub downgraded LKQ from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. LKQ has an average rating of “Buy” and a consensus price target of $43.25.

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About LKQ

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.

Further Reading: Why do company’s buyback their stock?

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Institutional Ownership by Quarter for LKQ (NASDAQ:LKQ)

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