Allspring Global Investments Holdings LLC Sells 4,367,201 Shares of LKQ Co. (NASDAQ:LKQ)

Allspring Global Investments Holdings LLC reduced its holdings in shares of LKQ Co. (NASDAQ:LKQ) by 93.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 311,795 shares of the auto parts company’s stock after selling 4,367,201 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.12% of LKQ worth $11,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Erste Asset Management GmbH bought a new stake in LKQ in the 3rd quarter valued at $45,733,000. Seizert Capital Partners LLC boosted its position in shares of LKQ by 451.1% in the third quarter. Seizert Capital Partners LLC now owns 1,327,664 shares of the auto parts company’s stock valued at $53,000,000 after acquiring an additional 1,086,758 shares during the period. Nordea Investment Management AB boosted its position in shares of LKQ by 11.0% in the fourth quarter. Nordea Investment Management AB now owns 8,406,444 shares of the auto parts company’s stock valued at $309,609,000 after acquiring an additional 833,519 shares during the period. Private Management Group Inc. bought a new stake in shares of LKQ in the third quarter valued at about $19,889,000. Finally, KBC Group NV boosted its holdings in LKQ by 68.5% in the 4th quarter. KBC Group NV now owns 1,210,661 shares of the auto parts company’s stock valued at $44,492,000 after purchasing an additional 492,356 shares during the period. 95.63% of the stock is owned by institutional investors.

LKQ Trading Up 1.3 %

Shares of LKQ opened at $39.11 on Tuesday. LKQ Co. has a 52-week low of $35.56 and a 52-week high of $53.68. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.67 and a current ratio of 1.72. The business’s fifty day moving average is $37.48 and its 200-day moving average is $38.73. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 14.59 and a beta of 1.29.

Insider Buying and Selling at LKQ

In related news, Director Dominick P. Zarcone sold 5,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $36.84, for a total transaction of $184,200.00. Following the sale, the director now owns 374,462 shares in the company, valued at $13,795,180.08. The trade was a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

LKQ has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on shares of LKQ from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Barrington Research reiterated an “outperform” rating and issued a $60.00 price target on shares of LKQ in a research note on Friday. Stifel Nicolaus reduced their target price on LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Robert W. Baird decreased their price target on LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com raised shares of LKQ from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, LKQ has an average rating of “Buy” and a consensus target price of $52.40.

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.