LKQ Corporation $LKQ Stake Lowered by New South Capital Management Inc.

New South Capital Management Inc. cut its holdings in LKQ Corporation (NASDAQ:LKQ) by 38.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 530,979 shares of the auto parts company’s stock after selling 337,818 shares during the quarter. New South Capital Management Inc.’s holdings in LKQ were worth $12,122,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. acquired a new position in LKQ during the 2nd quarter worth about $25,000. Global Retirement Partners LLC acquired a new stake in LKQ in the 2nd quarter valued at about $25,000. Essential Partners LLC bought a new position in shares of LKQ in the first quarter worth about $30,000. Salomon & Ludwin LLC bought a new position in shares of LKQ in the third quarter worth about $61,000. Finally, Transamerica Financial Advisors LLC acquired a new position in shares of LKQ during the second quarter worth approximately $77,000. 95.63% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Michael Scott Powell acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was acquired at an average cost of $19.15 per share, with a total value of $191,500.00. Following the completion of the purchase, the director directly owned 20,998 shares in the company, valued at approximately $402,111.70. This trade represents a 90.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sue Gove acquired 9,795 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were bought at an average cost of $20.53 per share, with a total value of $201,091.35. Following the completion of the purchase, the director owned 20,793 shares of the company’s stock, valued at $426,880.29. This trade represents a 89.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 41,595 shares of company stock valued at $792,621 in the last 90 days. 0.38% of the stock is owned by company insiders.

LKQ Stock Down 1.0%

Shares of NASDAQ LKQ opened at $19.99 on Thursday. LKQ Corporation has a 1 year low of $16.85 and a 1 year high of $37.13. The firm’s 50-day moving average is $21.92 and its 200-day moving average is $26.68. The company has a current ratio of 1.75, a quick ratio of 0.67 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $5.05 billion, a PE ratio of 8.31 and a beta of 0.87.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings data on Thursday, October 29th. The auto parts company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.08). LKQ had a net margin of 1.89% and a return on equity of 9.57%. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the company earned $0.84 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. Equities analysts expect that LKQ Corporation will post 2.21 EPS for the current year.

LKQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 6.0%. LKQ’s payout ratio is presently 120.00%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LKQ. Roth Capital cut shares of LKQ from a “buy” rating to a “neutral” rating and decreased their price target for the company from $35.00 to $18.00 in a research note on Monday, October 26th. JPMorgan Chase & Co. reduced their price objective on LKQ from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. Robert W. Baird decreased their price objective on LKQ from $30.00 to $23.00 and set an “outperform” rating on the stock in a research report on Monday, October 26th. Weiss Ratings cut LKQ from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, November 2nd. Finally, Zacks Research downgraded LKQ from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $26.07.

LKQ Company Profile

LKQ Corporation (NASDAQ: LKQ) distributes replacement parts, components and related products for vehicle repair and maintenance. Its offerings include recycled and refurbished parts, aftermarket products and original equipment manufacturer (OEM) parts, serving collision repair shops, mechanical repair businesses and other customers. The company also supplies specialty automotive parts and accessories, including products for vehicle customization and performance. LKQ operates across North America and Europe, as well as in Taiwan.