New South Capital Management Inc. Lowers Position in LKQ Co. (NASDAQ:LKQ)

New South Capital Management Inc. cut its holdings in LKQ Co. (NASDAQ:LKQ) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,511,395 shares of the auto parts company’s stock after selling 22,516 shares during the quarter. LKQ makes up about 2.5% of New South Capital Management Inc.’s holdings, making the stock its 12th biggest holding. New South Capital Management Inc. owned 0.58% of LKQ worth $60,335,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Catalyst Capital Advisors LLC purchased a new position in shares of LKQ in the 3rd quarter worth about $25,000. Rothschild Investment LLC purchased a new position in LKQ in the 2nd quarter worth approximately $33,000. Allworth Financial LP boosted its stake in LKQ by 94.2% during the 3rd 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 during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of LKQ by 33.5% during 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 boosted its holdings in shares of LKQ by 29.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,211 shares of the auto parts company’s stock valued at $50,000 after acquiring an additional 278 shares during the last quarter. 95.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LKQ has been the subject of a number of research reports. Barrington Research reiterated an “outperform” rating and set a $60.00 price objective on shares of LKQ in a research report on Friday, October 25th. Robert W. Baird dropped their price target on shares of LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. StockNews.com lowered LKQ from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Stifel Nicolaus decreased their price objective on LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. lifted 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.80.

LKQ Price Performance

NASDAQ LKQ traded down $0.14 on Tuesday, reaching $39.22. The company had a trading volume of 40,147 shares, compared to its average volume of 1,926,891. The firm’s 50 day moving average price is $39.13 and its 200 day moving average price is $41.13. LKQ Co. has a 12 month low of $35.57 and a 12 month high of $53.68. The stock has a market capitalization of $10.20 billion, a PE ratio of 14.69 and a beta of 1.29. The company has a quick ratio of 0.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.69.

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

LKQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.06%. LKQ’s dividend payout ratio (DPR) is presently 44.78%.

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.