Municipal Employees Retirement System of Michigan Purchases Shares of 8,540 LKQ Co. (NASDAQ:LKQ)

Municipal Employees Retirement System of Michigan acquired a new stake in shares of LKQ Co. (NASDAQ:LKQ) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,540 shares of the auto parts company’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LKQ. JPMorgan Chase & Co. grew its position in LKQ by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,938,421 shares of the auto parts company’s stock worth $188,070,000 after acquiring an additional 181,633 shares during the last quarter. United Services Automobile Association raised its stake in LKQ by 3.9% during the 3rd quarter. United Services Automobile Association now owns 104,160 shares of the auto parts company’s stock worth $3,299,000 after buying an additional 3,883 shares during the period. Deutsche Bank AG raised its stake in LKQ by 3.7% during the 3rd quarter. Deutsche Bank AG now owns 927,129 shares of the auto parts company’s stock worth $29,358,000 after buying an additional 32,862 shares during the period. Pacer Advisors Inc. raised its stake in LKQ by 32.1% during the 3rd quarter. Pacer Advisors Inc. now owns 18,720 shares of the auto parts company’s stock worth $593,000 after buying an additional 4,547 shares during the period. Finally, Verition Fund Management LLC raised its stake in LKQ by 42.0% during the 3rd quarter. Verition Fund Management LLC now owns 30,374 shares of the auto parts company’s stock worth $962,000 after buying an additional 8,982 shares during the period. 93.03% of the stock is owned by hedge funds and other institutional investors.

LKQ stock traded down $0.41 during midday trading on Thursday, reaching $27.42. 2,343,715 shares of the company’s stock were exchanged, compared to its average volume of 2,805,578. LKQ Co. has a 52 week low of $22.74 and a 52 week high of $36.10. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.99 and a current ratio of 2.36. The stock has a market capitalization of $8.61 billion, a P/E ratio of 12.52, a PEG ratio of 0.93 and a beta of 1.29.

LKQ (NASDAQ:LKQ) last posted its quarterly earnings results on Thursday, April 25th. The auto parts company reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. LKQ had a return on equity of 14.39% and a net margin of 3.47%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the company posted $0.55 earnings per share. LKQ’s quarterly revenue was up 13.9% on a year-over-year basis. Research analysts forecast that LKQ Co. will post 2.39 earnings per share for the current year.

In other news, Director Robert M. Hanser sold 1,131 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $27.93, for a total transaction of $31,588.83. Following the completion of the sale, the director now owns 13,923 shares in the company, valued at $388,869.39. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John S. Quinn sold 6,861 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $27.63, for a total value of $189,569.43. Following the sale, the executive vice president now owns 241,563 shares of the company’s stock, valued at approximately $6,674,385.69. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

Several equities analysts have recently weighed in on LKQ shares. William Blair cut LKQ from an “outperform” rating to a “market perform” rating in a report on Friday, January 18th. Guggenheim upgraded LKQ from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Wednesday, March 6th. ValuEngine upgraded LKQ from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 6th. Zacks Investment Research upgraded LKQ from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Finally, Barrington Research set a $43.00 price objective on LKQ and gave the company a “buy” rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. LKQ currently has an average rating of “Hold” and an average target price of $37.20.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.baseballdailydigest.com/news/2019/05/09/municipal-employees-retirement-system-of-michigan-invests-203000-in-lkq-co-lkq.html.

LKQ 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.

Featured Story: How mutual funds make money

Institutional Ownership by Quarter for LKQ (NASDAQ:LKQ)

Receive News & Ratings for LKQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LKQ and related companies with MarketBeat.com's FREE daily email newsletter.