M.D. Sass Investors Services Inc. cut its stake in LKQ Co. (NASDAQ:LKQ) by 39.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 609,504 shares of the auto parts company’s stock after selling 390,807 shares during the period. LKQ accounts for about 3.8% of M.D. Sass Investors Services Inc.’s portfolio, making the stock its 7th largest position. M.D. Sass Investors Services Inc. owned about 0.20% of LKQ worth $16,220,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in LKQ. Stevens Capital Management LP increased its holdings in shares of LKQ by 311.1% in the second quarter. Stevens Capital Management LP now owns 136,954 shares of the auto parts company’s stock valued at $3,644,000 after purchasing an additional 103,643 shares during the period. First National Bank of Omaha increased its holdings in LKQ by 0.6% in the 2nd quarter. First National Bank of Omaha now owns 196,875 shares of the auto parts company’s stock worth $5,239,000 after buying an additional 1,220 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in LKQ by 142.4% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,727 shares of the auto parts company’s stock worth $73,000 after buying an additional 1,602 shares during the period. Swiss National Bank increased its holdings in LKQ by 2.6% in the 1st quarter. Swiss National Bank now owns 1,061,100 shares of the auto parts company’s stock worth $30,114,000 after buying an additional 27,100 shares during the period. Finally, Landscape Capital Management L.L.C. raised its position in LKQ by 248.8% during the 2nd quarter. Landscape Capital Management L.L.C. now owns 105,994 shares of the auto parts company’s stock worth $2,821,000 after buying an additional 75,606 shares during the last quarter. Institutional investors own 91.77% of the company’s stock.
Several analysts have commented on LKQ shares. Wellington Shields cut shares of LKQ from a “buy” rating to a “gradually accumulate” rating in a research note on Thursday, July 25th. Zacks Investment Research lowered shares of LKQ from a “hold” rating to a “sell” rating and set a $29.00 price objective on the stock. in a research note on Tuesday. BidaskClub cut shares of LKQ from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Finally, Raymond James downgraded shares of LKQ from an “outperform” rating to a “market perform” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. LKQ presently has an average rating of “Hold” and an average price target of $34.50.
LKQ (NASDAQ:LKQ) last posted its quarterly earnings data on Thursday, July 25th. The auto parts company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. LKQ had a net margin of 3.36% and a return on equity of 14.54%. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the firm posted $0.61 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that LKQ Co. will post 2.33 EPS for the current year.
In other news, EVP John S. Quinn sold 10,721 shares of LKQ stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $27.04, for a total value of $289,895.84. Following the sale, the executive vice president now directly owns 254,674 shares of the company’s stock, valued at $6,886,384.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.
LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates in four segments: Wholesale – North America, Europe, Specialty, and Self Service. 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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