Envestnet Asset Management Inc. Has $32.62 Million Stake in LKQ Co. (NASDAQ:LKQ)

Envestnet Asset Management Inc. lifted its position in LKQ Co. (NASDAQ:LKQ) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 784,301 shares of the auto parts company’s stock after purchasing an additional 26,198 shares during the quarter. Envestnet Asset Management Inc. owned 0.29% of LKQ worth $32,619,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Private Advisor Group LLC acquired a new position in LKQ during the fourth quarter worth $263,000. Brown Advisory Inc. acquired a new position in LKQ during the fourth quarter worth $298,000. Norges Bank acquired a new position in LKQ during the fourth quarter worth $159,324,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in LKQ by 78.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,942 shares of the auto parts company’s stock worth $618,000 after acquiring an additional 5,703 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in LKQ by 2.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 42,218 shares of the auto parts company’s stock worth $2,018,000 after acquiring an additional 1,129 shares in the last quarter. 95.63% of the stock is currently owned by institutional investors and hedge funds.

LKQ Price Performance

Shares of LKQ stock opened at $40.01 on Friday. The stock’s fifty day moving average is $41.22 and its 200-day moving average is $44.25. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.70 and a current ratio of 1.75. The stock has a market capitalization of $10.67 billion, a PE ratio of 12.99 and a beta of 1.29. LKQ Co. has a 52 week low of $35.57 and a 52 week high of $53.68.

LKQ (NASDAQ:LKQ) last posted its quarterly earnings results 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). The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.87 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. LKQ’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 EPS. Equities research analysts expect that LKQ Co. will post 3.6 EPS for the current fiscal year.

LKQ Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Thursday, August 15th. LKQ’s dividend payout ratio is 38.96%.

Insider Activity at LKQ

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Roth Mkm reiterated a “buy” rating and set a $59.00 price objective on shares of LKQ in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their price objective on LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Robert W. Baird decreased their target price on LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Barrington Research restated an “outperform” rating and set a $60.00 target price on shares of LKQ in a report on Wednesday. Finally, StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a report on Tuesday. 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

About LKQ

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.