Massachusetts Financial Services Co. MA Reduces Holdings in LKQ Corporation (NASDAQ:LKQ)

Massachusetts Financial Services Co. MA cut its position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,259,317 shares of the auto parts company's stock after selling 389,837 shares during the quarter. Massachusetts Financial Services Co. MA owned about 4.36% of LKQ worth $478,971,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. increased its position in shares of LKQ by 104.8% during the first quarter. UMB Bank n.a. now owns 977 shares of the auto parts company's stock worth $42,000 after buying an additional 500 shares during the period. Horizon Financial Services LLC acquired a new stake in LKQ in the first quarter worth $42,000. Bruce G. Allen Investments LLC grew its holdings 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. Private Trust Co. NA grew its holdings 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. Finally, Parallel Advisors LLC grew its holdings in LKQ by 56.2% in the first quarter. Parallel Advisors LLC now owns 1,971 shares of the auto parts company's stock worth $84,000 after purchasing an additional 709 shares during the period. 95.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at LKQ

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wall Street Zen cut shares of LKQ from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Barrington Research reissued an "outperform" rating and set a $60.00 price target on shares of LKQ in a research report on Monday, April 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.60.

LKQ Stock Performance

LKQ stock traded up $0.10 during mid-day trading on Thursday, hitting $37.45. The company had a trading volume of 1,952,233 shares, compared to its average volume of 2,312,193. The firm has a market cap of $9.67 billion, a PE ratio of 13.97 and a beta of 0.95. 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 Corporation has a 12 month low of $35.56 and a 12 month high of $46.64. The stock's fifty day moving average price is $39.23 and its two-hundred day moving average price is $39.56.

LKQ (NASDAQ:LKQ - Get Free Report) last announced its earnings results on Thursday, April 24th. The auto parts company reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.79. LKQ had a net margin of 4.97% and a return on equity of 14.66%. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm's quarterly revenue was down 6.5% compared to the same quarter last year. On average, analysts forecast that LKQ Corporation will post 3.57 earnings per share for the current fiscal year.

LKQ Announces Dividend

The company 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. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.20%. LKQ's dividend payout ratio is currently 44.78%.

About LKQ

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.