Texas Permanent School Fund Corp Trims Stock Holdings in LKQ Co. (NASDAQ:LKQ)

Texas Permanent School Fund Corp reduced its stake in shares of LKQ Co. (NASDAQ:LKQ) by 20.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,237 shares of the auto parts company’s stock after selling 11,097 shares during the period. Texas Permanent School Fund Corp’s holdings in LKQ were worth $1,840,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Choreo LLC lifted its holdings in LKQ by 31.3% during the second quarter. Choreo LLC now owns 22,929 shares of the auto parts company’s stock valued at $952,000 after purchasing an additional 5,460 shares in the last quarter. Ballentine Partners LLC boosted its holdings in LKQ by 5.9% in the 2nd quarter. Ballentine Partners LLC now owns 13,938 shares of the auto parts company’s stock worth $580,000 after buying an additional 780 shares during the period. Caprock Group LLC purchased a new stake in LKQ in the 2nd quarter worth $278,000. Acadian Asset Management LLC raised its holdings in LKQ by 676.3% during the second quarter. Acadian Asset Management LLC now owns 6,723 shares of the auto parts company’s stock valued at $278,000 after acquiring an additional 5,857 shares during the period. Finally, New South Capital Management Inc. lifted its position in shares of LKQ by 30.4% in the second quarter. New South Capital Management Inc. now owns 1,533,911 shares of the auto parts company’s stock valued at $63,795,000 after acquiring an additional 357,465 shares in the last quarter. 95.63% of the stock is currently owned by institutional investors.

LKQ Stock Down 0.2 %

NASDAQ LKQ opened at $40.77 on Thursday. The stock has a 50 day moving average price of $41.34 and a 200-day moving average price of $44.36. LKQ Co. has a one year low of $35.57 and a one year high of $53.68. The company has a market capitalization of $10.88 billion, a P/E ratio of 13.24 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.70 and a current ratio of 1.75.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings data on Thursday, July 25th. The auto parts company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.87 billion. LKQ had a return on equity of 15.33% and a net margin of 5.03%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. As a group, equities analysts predict that LKQ Co. will post 3.6 EPS for the current fiscal year.

LKQ Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Thursday, August 15th. LKQ’s dividend payout ratio is currently 38.96%.

Insider Activity at LKQ

In other news, SVP Matthew J. Mckay acquired 2,500 shares of the company’s stock in a transaction on Monday, July 29th. The stock was bought at an average cost of $39.75 per share, with a total value of $99,375.00. Following the completion of the purchase, the senior vice president now directly owns 94,670 shares of the company’s stock, valued at $3,763,132.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Andrew C. Clarke purchased 7,600 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $39.70 per share, for a total transaction of $301,720.00. Following the completion of the acquisition, the director now owns 10,519 shares in the company, valued at approximately $417,604.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Matthew J. Mckay acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average price of $39.75 per share, with a total value of $99,375.00. Following the acquisition, the senior vice president now directly owns 94,670 shares in the company, valued at $3,763,132.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 12,600 shares of company stock worth $500,870. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

LKQ has been the subject of several research analyst reports. StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird cut their price objective on shares of LKQ from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Barrington Research reissued an “outperform” rating and issued a $60.00 target price on shares of LKQ in a report on Wednesday. JPMorgan Chase & Co. raised their target price 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. Finally, Roth Mkm reiterated a “buy” rating and issued a $59.00 price target on shares of LKQ in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.