Engine Capital Management LP Acquires Shares of 267,165 LKQ Co. (NASDAQ:LKQ)

Engine Capital Management LP purchased a new stake in shares of LKQ Co. (NASDAQ:LKQ) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 267,165 shares of the auto parts company’s stock, valued at approximately $11,111,000. LKQ accounts for approximately 2.1% of Engine Capital Management LP’s portfolio, making the stock its 15th largest position. Engine Capital Management LP owned 0.10% of LKQ at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Bank of Montreal Can boosted its stake in shares of LKQ by 13.7% during the 2nd quarter. Bank of Montreal Can now owns 391,894 shares of the auto parts company’s stock worth $16,311,000 after acquiring an additional 47,138 shares during the last quarter. Lombard Odier Asset Management Europe Ltd raised its position in shares of LKQ by 261.1% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 126,002 shares of the auto parts company’s stock valued at $5,240,000 after buying an additional 91,104 shares in the last quarter. Public Sector Pension Investment Board lifted its position in LKQ by 65.8% in the second quarter. Public Sector Pension Investment Board now owns 10,075 shares of the auto parts company’s stock worth $419,000 after buying an additional 3,999 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of LKQ by 1.8% during the second quarter. EverSource Wealth Advisors LLC now owns 85,403 shares of the auto parts company’s stock valued at $3,544,000 after purchasing an additional 1,523 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of LKQ by 7.3% during the second quarter. 1832 Asset Management L.P. now owns 32,337 shares of the auto parts company’s stock valued at $1,345,000 after buying an additional 2,194 shares during the period. 95.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other LKQ news, CEO Justin L. Jude bought 2,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $39.91 per share, for a total transaction of $99,775.00. Following the completion of the acquisition, the chief executive officer now owns 207,515 shares of the company’s stock, valued at $8,281,923.65. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Andrew C. Clarke purchased 7,600 shares of the company’s stock in a transaction on Friday, July 26th. The shares were purchased at an average price of $39.70 per share, with a total value of $301,720.00. Following the purchase, the director now directly owns 10,519 shares of the company’s stock, valued at approximately $417,604.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Justin L. Jude acquired 2,500 shares of LKQ stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $39.91 per share, with a total value of $99,775.00. Following the completion of the purchase, the chief executive officer now owns 207,515 shares in the company, valued at $8,281,923.65. The disclosure for this purchase can be found here. Insiders purchased 12,600 shares of company stock worth $500,870 in the last 90 days. 0.55% of the stock is owned by company insiders.

LKQ Price Performance

Shares of NASDAQ:LKQ opened at $40.13 on Tuesday. The firm has a market capitalization of $10.71 billion, a P/E ratio of 13.03 and a beta of 1.29. The firm’s 50 day moving average is $41.15 and its two-hundred day moving average is $44.07. LKQ Co. has a 52 week low of $35.57 and a 52 week high of $53.68. The company has a current ratio of 1.75, a quick ratio of 0.70 and a debt-to-equity ratio of 0.69.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.87 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. Analysts anticipate that LKQ Co. will post 3.6 earnings per share for the current year.

LKQ Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Thursday, August 15th. LKQ’s dividend payout ratio is 38.96%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LKQ. 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. Robert W. Baird lowered their price objective on LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. StockNews.com cut shares of LKQ from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price objective on LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Finally, Barrington Research restated an “outperform” rating and issued a $60.00 target price on shares of LKQ in a report on Wednesday, September 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.00.

LKQ 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.