Pzena Investment Management LLC Buys Shares of 1,005,888 LKQ Corporation (NASDAQ:LKQ)

Pzena Investment Management LLC purchased a new stake in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,005,888 shares of the auto parts company's stock, valued at approximately $42,790,000. Pzena Investment Management LLC owned about 0.39% of LKQ as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its position in LKQ by 104.8% in the first quarter. UMB Bank n.a. now owns 977 shares of the auto parts company's stock worth $42,000 after purchasing an additional 500 shares during the period. Horizon Financial Services LLC bought a new position in LKQ in the first quarter worth $42,000. Bruce G. Allen Investments LLC lifted its position in LKQ by 299.6% in the first quarter. Bruce G. Allen Investments LLC now owns 1,135 shares of the auto parts company's stock worth $48,000 after purchasing an additional 851 shares during the period. Whittier Trust Co. lifted its position in LKQ by 70.9% in the first quarter. Whittier Trust Co. now owns 1,707 shares of the auto parts company's stock worth $73,000 after purchasing an additional 708 shares during the period. Finally, Private Trust Co. NA lifted its position in LKQ by 30.2% in the first quarter. Private Trust Co. NA now owns 1,847 shares of the auto parts company's stock worth $79,000 after purchasing an additional 428 shares during the period. Institutional investors and hedge funds own 95.63% of the company's stock.

Insider Activity

In related news, CEO Justin L. Jude bought 2,708 shares of the firm's stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $36.99 per share, for a total transaction of $100,168.92. Following the transaction, the chief executive officer owned 280,777 shares of the company's stock, valued at $10,385,941.23. This represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dominick P. Zarcone sold 5,000 shares of LKQ stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $38.02, for a total value of $190,100.00. Following the transaction, the director owned 316,135 shares in the company, valued at $12,019,452.70. This trade represents a 1.56% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

LKQ Price Performance

Shares of NASDAQ LKQ traded up $0.10 during midday trading on Thursday, reaching $37.45. 1,952,233 shares of the company traded hands, compared to its average volume of 2,315,756. The firm has a market cap of $9.67 billion, a PE ratio of 13.97 and a beta of 0.95. The stock's 50-day simple moving average is $39.18 and its 200-day simple moving average is $39.56. LKQ Corporation has a 12 month low of $35.56 and a 12 month high of $46.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.56 and a current ratio of 1.52.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The auto parts company reported $0.79 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.79. LKQ had a return on equity of 14.66% and a net margin of 4.97%. The company had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.58 billion. During the same period last year, the business earned $0.82 earnings per share. The business's revenue was down 6.5% on a year-over-year basis. As a group, equities analysts anticipate that LKQ Corporation will post 3.57 earnings per share for the current fiscal year.

LKQ Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.20%. LKQ's payout ratio is currently 44.78%.

Analyst Ratings Changes

LKQ has been the subject of several research reports. Barrington Research reaffirmed an "outperform" rating and issued a $60.00 target price on shares of LKQ in a research report on Monday, April 21st. Wall Street Zen cut LKQ from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, LKQ presently has an average rating of "Moderate Buy" and a consensus price target of $52.60.

LKQ Company Profile

LKQ Corporation engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories. It operates through four segments: Wholesale-North America, Europe, Specialty, and Self Service. The company distributes bumper covers, automotive body panels, and lights, as well as mechanical automotive parts and accessories; 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.