Verition Fund Management LLC Acquires Shares of 84,775 LKQ Co. (NASDAQ:LKQ)

Verition Fund Management LLC bought a new stake in LKQ Co. (NASDAQ:LKQ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 84,775 shares of the auto parts company’s stock, valued at approximately $3,384,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LKQ. Catalyst Capital Advisors LLC purchased a new stake in LKQ during the third quarter worth about $25,000. Rothschild Investment LLC purchased a new stake in LKQ during the second quarter worth about $33,000. Allworth Financial LP lifted its holdings in shares of LKQ by 94.2% in the third quarter. Allworth Financial LP now owns 1,010 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 490 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of LKQ by 33.5% in the third quarter. Bruce G. Allen Investments LLC now owns 1,151 shares of the auto parts company’s stock valued at $46,000 after purchasing an additional 289 shares in the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of LKQ by 29.8% in the second quarter. Banque Cantonale Vaudoise now owns 1,211 shares of the auto parts company’s stock valued at $50,000 after purchasing an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.

LKQ Stock Performance

NASDAQ:LKQ opened at $39.48 on Thursday. The firm has a 50 day simple moving average of $38.60 and a 200-day simple moving average of $40.51. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.72 and a quick ratio of 0.67. The firm has a market cap of $10.26 billion, a PE ratio of 14.73 and a beta of 1.29. LKQ Co. has a 1-year low of $35.57 and a 1-year high of $53.68.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings results on Thursday, October 24th. The auto parts company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. LKQ had a net margin of 4.90% and a return on equity of 15.15%. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. LKQ’s revenue for the quarter was up .4% compared to the same quarter last year. On average, equities analysts expect that LKQ Co. will post 3.43 EPS for the current year.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Thursday, November 14th. LKQ’s dividend payout ratio (DPR) is 44.78%.

Analyst Ratings Changes

Several brokerages have issued reports on LKQ. JPMorgan Chase & Co. upped their price target on shares of LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Robert W. Baird reduced their price target on shares of LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and issued a $59.00 price target on shares of LKQ in a report on Thursday, September 12th. Stifel Nicolaus reduced their price target on shares of LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Barrington Research reissued an “outperform” rating and issued a $60.00 price objective on shares of LKQ in a research report on Friday, October 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, LKQ has a consensus rating of “Buy” and a consensus target price of $53.80.

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.