Power Corp of Canada Acquires New Shares in LKQ Co. (NASDAQ:LKQ)

Power Corp of Canada acquired a new stake in shares of LKQ Co. (NASDAQ:LKQ – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,118 shares of the auto parts company’s stock, valued at approximately $194,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd lifted its position in shares of LKQ by 81.1% in the first quarter. Covestor Ltd now owns 623 shares of the auto parts company’s stock worth $28,000 after buying an additional 279 shares during the last quarter. Front Row Advisors LLC lifted its position in shares of LKQ by 300.6% in the third quarter. Front Row Advisors LLC now owns 665 shares of the auto parts company’s stock worth $31,000 after buying an additional 499 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of LKQ by 148.1% in the second quarter. Quadrant Capital Group LLC now owns 836 shares of the auto parts company’s stock worth $41,000 after buying an additional 499 shares during the last quarter. Ronald Blue Trust Inc. lifted its position in shares of LKQ by 417.6% in the third quarter. Ronald Blue Trust Inc. now owns 823 shares of the auto parts company’s stock worth $41,000 after buying an additional 664 shares during the last quarter. Finally, Janiczek Wealth Management LLC lifted its position in shares of LKQ by 78.2% in the third quarter. Janiczek Wealth Management LLC now owns 909 shares of the auto parts company’s stock worth $45,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds own 93.55% of the company’s stock.

Analysts Set New Price Targets

LKQ has been the subject of several research analyst reports. Raymond James boosted their price objective on LKQ from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, January 13th. Roth Capital reissued a “buy” rating on shares of LKQ in a research report on Tuesday, February 21st. Finally, StockNews.com initiated coverage on LKQ in a research report on Thursday. They set a “buy” rating for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $67.00.

Insider Activity

In related news, Director Holdings L.P. Valueact sold 579,238 shares of the stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $57.88, for a total transaction of $33,526,295.44. Following the sale, the director now directly owns 5,473,513 shares in the company, valued at approximately $316,806,932.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 3,700,295 shares of company stock worth $211,735,266. Company insiders own 0.47% of the company’s stock.

LKQ Trading Down 1.6 %

Shares of LKQ opened at $53.37 on Thursday. LKQ Co. has a 12-month low of $43.37 and a 12-month high of $59.33. The company has a quick ratio of 0.66, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $14.25 billion, a price-to-earnings ratio of 12.99 and a beta of 1.36. The stock’s 50-day moving average price is $56.92 and its 200 day moving average price is $53.91.

LKQ (NASDAQ:LKQ – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The auto parts company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.06). LKQ had a net margin of 8.98% and a return on equity of 19.31%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. As a group, research analysts predict that LKQ Co. will post 4.07 earnings per share for the current year.

LKQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, March 15th. This represents a $1.10 annualized dividend and a dividend yield of 2.06%. LKQ’s dividend payout ratio is currently 26.76%.

LKQ Profile

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LKQ Corp. is a distributor of vehicle products and its parts to repair, maintain, and accessorize automobiles. It operates through the following segments: Wholesale-North America, Europe and Specialty. The Wholesale-North America segment includes Glass and Self-Service segments. The company was founded by Donald F.