Earnest Partners LLC Decreases Stock Position in LKQ Co. (NASDAQ:LKQ)

Earnest Partners LLC cut its stake in shares of LKQ Co. (NASDAQ:LKQ - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,071,349 shares of the auto parts company's stock after selling 23,662 shares during the quarter. Earnest Partners LLC owned approximately 0.41% of LKQ worth $39,372,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LKQ. Clarkston Capital Partners LLC purchased a new position in LKQ during the fourth quarter worth $91,678,000. Pacer Advisors Inc. boosted its holdings in shares of LKQ by 112.9% in the 4th quarter. Pacer Advisors Inc. now owns 42,563 shares of the auto parts company's stock valued at $1,564,000 after buying an additional 22,575 shares in the last quarter. Nordea Investment Management AB grew its holdings in LKQ by 11.0% in the fourth quarter. Nordea Investment Management AB now owns 8,406,444 shares of the auto parts company's stock worth $309,609,000 after purchasing an additional 833,519 shares during the last quarter. Islay Capital Management LLC acquired a new stake in shares of LKQ in the 4th quarter worth $559,000. Finally, LPL Financial LLC grew its stake in LKQ by 10.4% during the 4th quarter. LPL Financial LLC now owns 126,729 shares of the auto parts company's stock worth $4,657,000 after buying an additional 11,975 shares during the last quarter. Institutional investors own 95.63% of the company's stock.

LKQ Stock Performance

LKQ stock traded up $1.21 during midday trading on Friday, hitting $39.34. 2,094,100 shares of the company were exchanged, compared to its average volume of 2,266,669. LKQ Co. has a fifty-two week low of $35.56 and a fifty-two week high of $46.64. The firm has a market capitalization of $10.16 billion, a PE ratio of 15.02 and a beta of 1.09. The business has a fifty day simple moving average of $41.23 and a two-hundred day simple moving average of $39.14. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.67 and a current ratio of 1.71.

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

LKQ Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Thursday, May 15th. LKQ's dividend payout ratio is currently 44.78%.

Analyst Upgrades and Downgrades

LKQ has been the subject of several recent analyst reports. StockNews.com downgraded LKQ from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Barrington Research restated an "outperform" rating and set a $60.00 price target on shares of LKQ in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of LKQ from $48.00 to $49.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.60.

Insider Activity at LKQ

In other news, Director Dominick P. Zarcone sold 5,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $36.14, for a total value of $180,700.00. Following the sale, the director now directly owns 369,462 shares of the company's stock, valued at approximately $13,352,356.68. The trade was a 1.34 % decrease in their position. The transaction 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 on Friday, April 25th. The shares were purchased at an average price of $36.99 per share, for a total transaction of $100,168.92. Following the completion of the purchase, the chief executive officer now directly owns 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 disclosure for this purchase can be found here. In the last quarter, insiders sold 50,000 shares of company stock valued at $2,054,450. Corporate insiders own 0.55% of the company's stock.

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.