Tocqueville Asset Management L.P. acquired a new position in shares of LKQ Co. (NASDAQ:LKQ) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 70,000 shares of the auto parts company’s stock, valued at approximately $1,863,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. FMR LLC raised its stake in LKQ by 13.3% during the first quarter. FMR LLC now owns 11,329,024 shares of the auto parts company’s stock worth $321,518,000 after acquiring an additional 1,329,633 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of LKQ by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 4,266,318 shares of the auto parts company’s stock worth $101,069,000 after buying an additional 316,437 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of LKQ by 14.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,776,182 shares of the auto parts company’s stock worth $89,622,000 after buying an additional 485,510 shares in the last quarter. International Value Advisers LLC bought a new position in shares of LKQ during the 1st quarter worth approximately $93,177,000. Finally, FIL Ltd raised its position in shares of LKQ by 41.6% during the first quarter. FIL Ltd now owns 2,176,787 shares of the auto parts company’s stock worth $61,777,000 after purchasing an additional 639,246 shares during the period. 90.72% of the stock is owned by hedge funds and other institutional investors.
Shares of LKQ stock opened at $24.75 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.94 and a current ratio of 2.20. The company’s 50 day moving average is $26.21. LKQ Co. has a 1 year low of $22.74 and a 1 year high of $34.74. The stock has a market capitalization of $7.72 billion, a P/E ratio of 11.30, a PEG ratio of 0.82 and a beta of 1.33.
In related news, EVP John S. Quinn sold 10,721 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 254,674 shares in the company, valued at approximately $6,886,384.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.71% of the stock is owned by company insiders.
A number of research analysts have issued reports on the company. Wellington Shields downgraded LKQ from a “buy” rating to a “gradually accumulate” rating in a research note on Thursday, July 25th. Zacks Investment Research cut LKQ from a “hold” rating to a “sell” rating and set a $29.00 price target on the stock. in a report on Friday, July 26th. TheStreet cut LKQ from a “b-” rating to a “c+” rating in a report on Friday, May 10th. ValuEngine cut LKQ from a “hold” rating to a “sell” rating in a report on Saturday, May 4th. Finally, BidaskClub cut LKQ from a “hold” rating to a “sell” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.50.
LKQ Company Profile
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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