Ferguson Wellman Capital Management Inc. Decreases Stock Holdings in LKQ Co. (NASDAQ:LKQ)

Ferguson Wellman Capital Management Inc. lessened its stake in LKQ Co. (NASDAQ:LKQ) by 97.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,914 shares of the auto parts company’s stock after selling 395,533 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in LKQ were worth $396,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC acquired a new stake in shares of LKQ in the second quarter worth approximately $3,839,000. Capital World Investors boosted its stake in LKQ by 91.0% during the 1st quarter. Capital World Investors now owns 582,953 shares of the auto parts company’s stock worth $31,136,000 after purchasing an additional 277,700 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of LKQ by 133.2% during the first quarter. SG Americas Securities LLC now owns 87,091 shares of the auto parts company’s stock worth $4,652,000 after buying an additional 49,739 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of LKQ in the first quarter valued at about $1,910,000. Finally, Addenda Capital Inc. purchased a new position in shares of LKQ in the second quarter worth about $6,419,000. 95.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Matthew J. Mckay acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average price of $39.75 per share, for a total transaction of $99,375.00. Following the acquisition, the senior vice president now owns 94,670 shares of the company’s stock, valued at $3,763,132.50. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other LKQ news, Director Andrew C. Clarke purchased 7,600 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was bought at an average price of $39.70 per share, with a total value of $301,720.00. Following the transaction, the director now directly owns 10,519 shares of the company’s stock, valued at approximately $417,604.30. This represents a 200.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew J. Mckay acquired 2,500 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were bought at an average cost of $39.75 per share, for a total transaction of $99,375.00. Following the transaction, the senior vice president now directly owns 94,670 shares of the company’s stock, valued at approximately $3,763,132.50. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 12,600 shares of company stock worth $500,870 over the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Roth Mkm reaffirmed a “buy” rating and issued a $59.00 price target on shares of LKQ in a report on Thursday, September 12th. Robert W. Baird reduced their price objective on LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. StockNews.com downgraded LKQ from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, Barrington Research reiterated an “outperform” rating and set a $60.00 price target on shares of LKQ in a report on Wednesday, September 18th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.00.

LKQ Price Performance

LKQ stock opened at $39.31 on Friday. LKQ Co. has a 52-week low of $35.57 and a 52-week high of $53.68. The business has a fifty day moving average of $40.18 and a two-hundred day moving average of $42.40. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 12.76 and a beta of 1.28. The company has a quick ratio of 0.70, a current ratio of 1.75 and a debt-to-equity ratio of 0.69.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings data on Thursday, July 25th. The auto parts company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.05). LKQ had a net margin of 5.03% and a return on equity of 15.33%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, research analysts anticipate that LKQ Co. will post 3.55 earnings per share for the current year.

LKQ Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Thursday, August 15th. LKQ’s payout ratio is 38.96%.

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.