New South Capital Management Inc. Increases Stake in LKQ Corporation (NASDAQ:LKQ)

New South Capital Management Inc. raised its position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 9.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,298,062 shares of the auto parts company's stock after buying an additional 111,277 shares during the quarter. LKQ comprises 2.7% of New South Capital Management Inc.'s portfolio, making the stock its 11th biggest holding. New South Capital Management Inc. owned approximately 0.50% of LKQ worth $55,220,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

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

Insider Transactions at LKQ

In other LKQ news, Director Dominick P. Zarcone sold 5,000 shares of the company's 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 directly owned 316,135 shares in the company, valued at $12,019,452.70. This represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Justin L. Jude purchased 2,708 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $36.99 per share, with a total value of $100,168.92. Following the purchase, the chief executive officer directly owned 280,777 shares of the company's stock, valued at approximately $10,385,941.23. This represents a 0.97% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.47% of the company's stock.

LKQ Trading Up 1.6%

NASDAQ LKQ traded up $0.61 during trading on Wednesday, hitting $38.57. The stock had a trading volume of 2,247,078 shares, compared to its average volume of 2,307,433. LKQ Corporation has a one year low of $35.56 and a one year high of $46.64. The stock has a 50 day simple moving average of $39.30 and a 200 day simple moving average of $39.45. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 14.39 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 (NASDAQ:LKQ - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The auto parts company reported $0.79 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.79. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.58 billion. LKQ had a return on equity of 14.66% and a net margin of 4.97%. LKQ's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. Sell-side analysts predict that LKQ Corporation will post 3.57 earnings per share for the current 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 paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, May 15th. 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.