Verition Fund Management LLC Makes New $3.38 Million Investment in LKQ Co. (NASDAQ:LKQ)

Verition Fund Management LLC acquired a new position in shares of LKQ Co. (NASDAQ:LKQ) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 84,775 shares of the auto parts company’s stock, valued at approximately $3,384,000.

Other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new position in shares of LKQ in the second quarter valued at $3,839,000. Addenda Capital Inc. purchased a new position in shares of LKQ in the second quarter valued at $6,419,000. TCW Group Inc. purchased a new position in shares of LKQ in the second quarter valued at $6,601,000. Squarepoint Ops LLC boosted its stake in shares of LKQ by 3,683.6% in the second quarter. Squarepoint Ops LLC now owns 274,577 shares of the auto parts company’s stock valued at $11,420,000 after purchasing an additional 267,320 shares during the period. Finally, Cetera Investment Advisers boosted its stake in shares of LKQ by 165.3% in the first quarter. Cetera Investment Advisers now owns 45,940 shares of the auto parts company’s stock valued at $2,454,000 after purchasing an additional 28,623 shares during the period. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

LKQ Stock Up 0.2 %

Shares of NASDAQ:LKQ opened at $39.48 on Thursday. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 14.73 and a beta of 1.29. LKQ Co. has a 1-year low of $35.57 and a 1-year high of $53.68. The company’s fifty day moving average is $38.60 and its two-hundred day moving average is $40.51. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.67 and a current ratio of 1.72.

LKQ (NASDAQ:LKQ) last issued its earnings results on Thursday, October 24th. The auto parts company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.65 billion. LKQ had a net margin of 4.90% and a return on equity of 15.15%. The firm’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 earnings per share. Equities analysts anticipate that LKQ Co. will post 3.43 EPS for the current year.

LKQ Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.04%. LKQ’s dividend payout ratio (DPR) is 44.78%.

LKQ Company 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.