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.
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.
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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