Ameriprise Financial Inc. Sells 692,785 Shares of LKQ Corp. (LKQ)
Ameriprise Financial Inc. reduced its stake in LKQ Corp. (NASDAQ:LKQ) by 76.1% during the second quarter, Holdings Channel reports. The institutional investor owned 217,076 shares of the company’s stock after selling 692,785 shares during the period. Ameriprise Financial Inc. owned about 0.07% of LKQ Corp. worth $6,880,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of LKQ. Parkside Financial Bank & Trust increased its position in shares of LKQ Corp. by 8.5% in the second quarter. Parkside Financial Bank & Trust now owns 4,197 shares of the company’s stock valued at $133,000 after buying an additional 330 shares during the period. Douglass Winthrop Advisors LLC purchased a new position in shares of LKQ Corp. during the second quarter valued at approximately $206,000. Mn Services Vermogensbeheer B.V. increased its position in shares of LKQ Corp. by 2.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 7,736 shares of the company’s stock valued at $221,000 after buying an additional 180 shares during the period. Wright Investors Service Inc. purchased a new position in shares of LKQ Corp. during the second quarter valued at approximately $224,000. Finally, Scout Investments Inc. purchased a new position in shares of LKQ Corp. during the second quarter valued at approximately $229,000. 89.92% of the stock is owned by institutional investors and hedge funds.
Shares of LKQ Corp. (NASDAQ:LKQ) traded down 0.12% during midday trading on Friday, reaching $33.20. 2,151,445 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $35.38 and its 200 day moving average price is $33.45. The company has a market cap of $10.20 billion, a price-to-earnings ratio of 22.90 and a beta of 0.72. LKQ Corp. has a 12-month low of $23.95 and a 12-month high of $36.35.
LKQ Corp. (NASDAQ:LKQ) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. LKQ Corp. had a net margin of 5.59% and a return on equity of 15.82%. The business earned $2.45 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period last year, the company posted $0.39 EPS. The business’s revenue was up 33.3% on a year-over-year basis. Equities analysts anticipate that LKQ Corp. will post $1.84 earnings per share for the current fiscal year.
Several brokerages have recently commented on LKQ. Susquehanna set a $42.00 price objective on shares of LKQ Corp. and gave the company a “buy” rating in a research note on Wednesday. FBR & Co reaffirmed an “outperform” rating and set a $40.00 price objective on shares of LKQ Corp. in a research note on Wednesday. Zacks Investment Research raised shares of LKQ Corp. from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, September 14th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $36.00 price objective on shares of LKQ Corp. in a research note on Tuesday, June 28th. Ten investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $38.25.
In related news, Director Joseph M. Holsten sold 16,000 shares of LKQ Corp. stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $36.00, for a total transaction of $576,000.00. Following the completion of the sale, the director now owns 280,447 shares in the company, valued at approximately $10,096,092. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert L. Wagman sold 1,502 shares of LKQ Corp. stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $34.51, for a total transaction of $51,834.02. Following the sale, the chief executive officer now owns 358,654 shares of the company’s stock, valued at approximately $12,377,149.54. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
LKQ Corp. Company Profile
LKQ Corporation (LKQ) is a global distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories. The company distributes a range of products to collision and mechanical repair shops, including aftermarket collision and mechanical products, and recycled collision and mechanical products.
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