Rehmann Capital Advisory Group Purchases New Shares in LKQ Co. (NASDAQ:LKQ)

Rehmann Capital Advisory Group purchased a new stake in shares of LKQ Co. (NASDAQ:LKQ) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,630 shares of the auto parts company’s stock, valued at approximately $634,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TCW Group Inc. purchased a new stake in LKQ during the 2nd quarter valued at $6,601,000. Squarepoint Ops LLC raised its holdings in LKQ by 3,683.6% during the 2nd quarter. Squarepoint Ops LLC now owns 274,577 shares of the auto parts company’s stock valued at $11,420,000 after buying an additional 267,320 shares during the period. Oppenheimer & Co. Inc. raised its holdings in LKQ by 28.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 65,548 shares of the auto parts company’s stock valued at $2,726,000 after buying an additional 14,573 shares during the period. Federated Hermes Inc. raised its holdings in LKQ by 2.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,317,672 shares of the auto parts company’s stock valued at $54,802,000 after buying an additional 33,459 shares during the period. Finally, Regatta Capital Group LLC raised its holdings in LKQ by 3.0% during the 3rd quarter. Regatta Capital Group LLC now owns 19,132 shares of the auto parts company’s stock valued at $764,000 after buying an additional 556 shares during the period. Hedge funds and other institutional investors own 95.63% of the company’s stock.

LKQ Stock Performance

Shares of LKQ stock opened at $38.37 on Friday. The stock’s fifty day moving average is $38.50 and its two-hundred day moving average is $40.34. The company has a market capitalization of $9.97 billion, a PE ratio of 14.32 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 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, 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 prior year, the company earned $0.86 EPS. The business’s revenue was up .4% compared to the same quarter last year. As a group, analysts expect that LKQ Co. will post 3.43 earnings per share for the current year.

LKQ Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Thursday, November 14th. LKQ’s payout ratio is 44.78%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com upgraded LKQ from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Stifel Nicolaus decreased their price target on LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Barrington Research reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of LKQ in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $59.00 price objective on shares of LKQ in a research report on Thursday, September 12th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $53.80.

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.