Fulton Bank N.A. Reduces Position in LKQ Co. (NASDAQ:LKQ)

Fulton Bank N.A. trimmed its holdings in LKQ Co. (NASDAQ:LKQ) by 4.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 65,736 shares of the auto parts company’s stock after selling 3,134 shares during the quarter. Fulton Bank N.A.’s holdings in LKQ were worth $2,416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB lifted its stake in LKQ by 11.0% in the 4th quarter. Nordea Investment Management AB now owns 8,406,444 shares of the auto parts company’s stock worth $309,609,000 after purchasing an additional 833,519 shares in the last quarter. Squarepoint Ops LLC lifted its position in LKQ by 3,683.6% during the second quarter. Squarepoint Ops LLC now owns 274,577 shares of the auto parts company’s stock worth $11,420,000 after buying an additional 267,320 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in LKQ by 28.6% during the second quarter. Oppenheimer & Co. Inc. now owns 65,548 shares of the auto parts company’s stock worth $2,726,000 after buying an additional 14,573 shares during the last quarter. Rehmann Capital Advisory Group purchased a new stake in LKQ in the 3rd quarter valued at $634,000. Finally, Federated Hermes Inc. raised its holdings in shares of LKQ by 2.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,317,672 shares of the auto parts company’s stock worth $54,802,000 after acquiring an additional 33,459 shares during the period. 95.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at LKQ

In related news, Director Dominick P. Zarcone sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $36.84, for a total transaction of $184,200.00. Following the sale, the director now directly owns 374,462 shares in the company, valued at approximately $13,795,180.08. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

LKQ Trading Down 0.4 %

Shares of LKQ stock traded down $0.16 during trading hours on Wednesday, hitting $36.33. The company had a trading volume of 568,504 shares, compared to its average volume of 1,573,305. LKQ Co. has a fifty-two week low of $35.56 and a fifty-two week high of $53.68. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.72 and a quick ratio of 0.67. The company’s fifty day moving average is $37.87 and its 200 day moving average is $39.67. The stock has a market capitalization of $9.44 billion, a PE ratio of 13.56 and a beta of 1.30.

LKQ (NASDAQ:LKQ) last released its quarterly earnings results on Thursday, October 24th. The auto parts company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.65 billion. LKQ had a return on equity of 15.15% and a net margin of 4.90%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the business posted $0.86 earnings per share. Research analysts expect that LKQ Co. will post 3.43 earnings per share for the current fiscal year.

LKQ Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Thursday, November 14th. LKQ’s payout ratio is 44.78%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com raised shares of LKQ from a “hold” rating to a “buy” rating in a report on Monday, November 18th. JPMorgan Chase & Co. increased their price target 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. Barrington Research reaffirmed an “outperform” rating and set a $60.00 price target on shares of LKQ in a research report on Friday, October 25th. Roth Mkm reiterated a “buy” rating and issued a $59.00 price objective on shares of LKQ in a report on Thursday, September 12th. Finally, Stifel Nicolaus cut their target price on LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $53.80.

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.