Marble Harbor Investment Counsel LLC reduced its stake in shares of LKQ Co. (NASDAQ:LKQ) by 2.2% in the 3rd quarter, Holdings Channel reports. The firm owned 117,480 shares of the auto parts company’s stock after selling 2,700 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in LKQ were worth $3,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in LKQ. BlackRock Inc. increased its holdings in LKQ by 1.3% in the 2nd quarter. BlackRock Inc. now owns 19,042,477 shares of the auto parts company’s stock valued at $607,456,000 after buying an additional 247,524 shares during the period. Janus Henderson Group PLC increased its holdings in LKQ by 29.9% in the 2nd quarter. Janus Henderson Group PLC now owns 4,681,976 shares of the auto parts company’s stock valued at $149,355,000 after buying an additional 1,077,847 shares during the period. Frontier Capital Management Co. LLC increased its holdings 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 period. Fairpointe Capital LLC increased its holdings in LKQ by 18.8% in the 2nd quarter. Fairpointe Capital LLC now owns 3,646,333 shares of the auto parts company’s stock valued at $116,318,000 after buying an additional 576,865 shares during the period. Finally, Northern Trust Corp increased its holdings in LKQ by 2.5% in the 2nd quarter. Northern Trust Corp now owns 3,526,926 shares of the auto parts company’s stock valued at $112,509,000 after buying an additional 85,952 shares during the period. Hedge funds and other institutional investors own 89.46% of the company’s stock.
Shares of NASDAQ:LKQ opened at $28.66 on Friday. LKQ Co. has a 12 month low of $25.35 and a 12 month high of $43.86. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 2.65. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 0.84 and a beta of 1.27.
LKQ declared that its board has initiated a share repurchase plan on Thursday, October 25th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the auto parts company to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other LKQ news, insider Dominick P. Zarcone bought 2,000 shares of the business’s stock in a transaction on Friday, October 26th. The shares were bought at an average cost of $26.55 per share, for a total transaction of $53,100.00. Following the transaction, the insider now owns 259,080 shares in the company, valued at approximately $6,878,574. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Varun Laroyia bought 1,000 shares of the business’s stock in a transaction on Friday, October 26th. The shares were acquired at an average price of $26.50 per share, for a total transaction of $26,500.00. Following the completion of the transaction, the vice president now 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 corporate insiders.
Several equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of LKQ from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Zacks Investment Research lowered shares of LKQ from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Barrington Research reaffirmed a “buy” rating and issued a $45.00 target price on shares of LKQ in a report on Thursday, July 26th. TheStreet lowered shares of LKQ from a “b-” rating to a “c+” rating in a report on Tuesday, October 23rd. Finally, ValuEngine lowered shares of LKQ from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $43.25.
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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