Federated Investors Inc. PA increased its stake in LKQ Co. (NASDAQ:LKQ) by 23,501.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,384,250 shares of the auto parts company’s stock after purchasing an additional 1,378,385 shares during the period. Federated Investors Inc. PA owned approximately 0.44% of LKQ worth $43,839,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC boosted its stake in LKQ by 2,700.0% in the third 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 in the last quarter. Captrust Financial Advisors boosted its stake in LKQ by 229.9% in the second quarter. Captrust Financial Advisors now owns 4,632 shares of the auto parts company’s stock valued at $148,000 after buying an additional 3,228 shares in the last quarter. Macquarie Group Ltd. boosted its stake in LKQ by 119.2% in the second quarter. Macquarie Group Ltd. now owns 5,700 shares of the auto parts company’s stock valued at $182,000 after buying an additional 3,100 shares in the last quarter. Cerebellum GP LLC acquired a new stake in LKQ in the third quarter valued at about $186,000. Finally, Belpointe Asset Management LLC acquired a new stake in LKQ in the third quarter valued at about $187,000. Institutional investors own 90.09% of the company’s stock.
Shares of LKQ stock opened at $24.60 on Friday. LKQ Co. has a 12 month low of $24.46 and a 12 month high of $43.86. The stock has a market cap of $7.83 billion, a PE ratio of 13.09, a PEG ratio of 0.74 and a beta of 1.28. The company has a current ratio of 2.65, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87.
LKQ declared that its board has approved a share buyback program on Thursday, October 25th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Several research firms recently weighed in on LKQ. Raymond James reduced their price objective on LKQ from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, October 10th. Barrington Research reaffirmed a “buy” rating on shares of LKQ in a research note on Friday. Zacks Investment Research lowered LKQ from a “hold” rating to a “sell” rating in a research note on Monday, November 19th. ValuEngine lowered LKQ from a “hold” rating to a “sell” rating in a research note on Thursday, August 23rd. Finally, TheStreet lowered LKQ from a “b-” rating to a “c+” rating in a research note on Tuesday, October 23rd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. LKQ has an average rating of “Hold” and an average price target of $43.14.
In related news, VP Varun Laroyia acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average cost of $26.50 per share, with a total value of $26,500.00. Following the completion of the purchase, the vice president now directly owns 75,673 shares in the company, valued at $2,005,334.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dominick P. Zarcone acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average cost of $26.55 per share, for a total transaction of $53,100.00. Following the completion of the purchase, the insider now owns 259,080 shares of the company’s stock, valued at $6,878,574. The disclosure for this purchase can be found here. Company insiders own 0.80% of the company’s stock.
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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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