Contravisory Investment Management Inc. Makes New $544,000 Investment in LKQ Co. (NASDAQ:LKQ)

Contravisory Investment Management Inc. acquired a new stake in LKQ Co. (NASDAQ:LKQ - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,781 shares of the auto parts company's stock, valued at approximately $544,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of LKQ during the 4th quarter worth $165,548,000. EdgePoint Investment Group Inc. acquired a new stake in LKQ in the 4th quarter valued at approximately $160,339,000. Norges Bank acquired a new position in LKQ during the 4th quarter worth about $119,395,000. Clarkston Capital Partners LLC acquired a new stake in shares of LKQ during the fourth quarter worth about $91,678,000. Finally, Eminence Capital LP acquired a new stake in shares of LKQ in the fourth quarter valued at $68,944,000. Hedge funds and other institutional investors own 95.63% of the company's stock.

LKQ Stock Down 2.4%

LKQ stock traded down $0.95 during trading on Thursday, hitting $38.97. 3,107,005 shares of the company's stock were exchanged, compared to its average volume of 2,289,441. The business has a 50-day moving average price of $40.64 and a two-hundred day moving average price of $39.56. The company has a current ratio of 1.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 14.87 and a beta of 0.98. LKQ Co. has a 52-week low of $35.56 and a 52-week high of $46.64.

LKQ (NASDAQ:LKQ - Get Free Report) last posted its earnings results on Thursday, April 24th. The auto parts company reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.58 billion. LKQ had a return on equity of 14.93% and a net margin of 4.81%. The business's quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 EPS. As a group, equities research analysts expect that LKQ Co. will post 3.57 EPS for the current year.

LKQ Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Thursday, May 15th. LKQ's dividend payout ratio is currently 44.78%.

Insider Buying and Selling

In other LKQ news, Director Dominick P. Zarcone sold 5,000 shares of the business's stock in a transaction on 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 now directly owns 316,135 shares of the company's stock, valued at approximately $12,019,452.70. The trade was a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Justin L. Jude bought 2,708 shares of LKQ stock in a transaction dated Friday, April 25th. The stock was purchased at an average price of $36.99 per share, with a total value of $100,168.92. Following the purchase, the chief executive officer now directly owns 280,777 shares in the company, valued at approximately $10,385,941.23. This trade represents a 0.97% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LKQ. Wall Street Zen downgraded LKQ from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price target on shares of LKQ from $48.00 to $49.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Finally, Barrington Research restated an "outperform" rating and issued a $60.00 price objective on shares of LKQ in a report on Monday, April 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.60.

LKQ 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.