Retirement Systems of Alabama Sells 455,586 Shares of LKQ Corp. (LKQ)
Retirement Systems of Alabama lowered its stake in LKQ Corp. (NASDAQ:LKQ) by 74.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 156,350 shares of the company’s stock after selling 455,586 shares during the period. Retirement Systems of Alabama’s holdings in LKQ Corp. were worth $4,956,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Douglass Winthrop Advisors LLC acquired a new position in shares of LKQ Corp. during the second quarter valued at approximately $206,000. Boothbay Fund Management LLC acquired a new position in shares of LKQ Corp. during the first quarter valued at approximately $392,000. Eqis Capital Management Inc. boosted its position in shares of LKQ Corp. by 7.0% in the second quarter. Eqis Capital Management Inc. now owns 12,425 shares of the company’s stock worth $394,000 after buying an additional 817 shares during the period. Bayesian Capital Management LP purchased a new position in shares of LKQ Corp. during the first quarter worth about $399,000. Finally, DNB Asset Management AS boosted its position in shares of LKQ Corp. by 6.3% in the second quarter. DNB Asset Management AS now owns 15,262 shares of the company’s stock worth $484,000 after buying an additional 900 shares during the period. 89.91% of the stock is currently owned by institutional investors.
Shares of LKQ Corp. (NASDAQ:LKQ) traded down 0.36% during mid-day trading on Friday, reaching $32.84. 1,820,244 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $35.01 and a 200 day moving average price of $33.53. LKQ Corp. has a 52-week low of $23.95 and a 52-week high of $36.35. The firm has a market cap of $10.09 billion, a P/E ratio of 22.65 and a beta of 0.72.
LKQ Corp. (NASDAQ:LKQ) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.07. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.42 billion. LKQ Corp. had a net margin of 5.59% and a return on equity of 15.82%. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS. Analysts forecast that LKQ Corp. will post $1.84 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on LKQ. Susquehanna began coverage on shares of LKQ Corp. in a research note on Thursday, August 25th. They issued a “positive” rating and a $42.00 price objective on the stock. Zacks Investment Research raised shares of LKQ Corp. from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, September 14th. FBR & Co reissued an “outperform” rating and issued a $40.00 price objective on shares of LKQ Corp. in a research note on Wednesday, October 5th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $36.00 price objective on shares of LKQ Corp. in a research note on Tuesday, June 28th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.25.
In other news, Director Joseph M. Holsten sold 16,000 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $36.00, for a total value of $576,000.00. Following the completion of the sale, the director now owns 280,447 shares of the company’s stock, valued at approximately $10,096,092. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert L. Wagman sold 20,100 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $34.07, for a total transaction of $684,807.00. Following the completion of the sale, the insider now directly owns 360,456 shares of the company’s stock, valued at approximately $12,280,735.92. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by 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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