Allspring Global Investments Holdings LLC Reduces Stock Holdings in LKQ Co. (NASDAQ:LKQ)

Allspring Global Investments Holdings LLC trimmed its stake in LKQ Co. (NASDAQ:LKQ - Free Report) by 47.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,678,996 shares of the auto parts company's stock after selling 4,147,851 shares during the period. Allspring Global Investments Holdings LLC owned about 1.75% of LKQ worth $186,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in LKQ during the 4th quarter valued at $210,000. PNC Financial Services Group Inc. lifted its stake in LKQ by 2.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 42,218 shares of the auto parts company's stock worth $2,018,000 after acquiring an additional 1,129 shares during the period. Nomura Holdings Inc. bought a new position in LKQ during the 4th quarter worth about $258,000. Czech National Bank raised its holdings in shares of LKQ by 0.5% in the 1st quarter. Czech National Bank now owns 47,084 shares of the auto parts company's stock valued at $2,515,000 after purchasing an additional 216 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of LKQ by 5.5% in the 1st quarter. Park Avenue Securities LLC now owns 9,288 shares of the auto parts company's stock worth $496,000 after purchasing an additional 487 shares during the period. 95.63% of the stock is currently owned by institutional investors.

Insider Activity at LKQ

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 purchased at an average price of $39.91 per share, for a total transaction of $99,775.00. Following the transaction, the chief executive officer now directly owns 207,515 shares of the company's stock, valued at approximately $8,281,923.65. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other LKQ news, Director Andrew C. Clarke purchased 7,600 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $39.70 per share, for a total transaction of $301,720.00. Following the completion of the transaction, the director now owns 10,519 shares of the company's stock, valued at $417,604.30. The trade was a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Justin L. Jude bought 2,500 shares of the firm's stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $39.91 per share, for a total transaction of $99,775.00. Following the completion of the purchase, the chief executive officer now directly owns 207,515 shares in the company, valued at approximately $8,281,923.65. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 12,600 shares of company stock worth $500,870 in the last three months. Company insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LKQ. JPMorgan Chase & Co. lifted their price objective on shares of LKQ from $54.00 to $55.00 and gave the company an "overweight" rating in a report on Thursday, September 12th. Roth Mkm reiterated a "buy" rating and issued a $59.00 target price on shares of LKQ in a report on Thursday, September 12th. StockNews.com cut shares of LKQ from a "buy" rating to a "hold" rating in a report on Tuesday, September 17th. Barrington Research reissued an "outperform" rating and set a $60.00 target price on shares of LKQ in a research report on Wednesday, September 18th. Finally, Robert W. Baird cut their price target on shares of LKQ from $54.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, July 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, LKQ has an average rating of "Moderate Buy" and an average target price of $58.00.

LKQ Stock Performance

NASDAQ LKQ traded down $0.08 during trading hours on Friday, reaching $39.31. The stock had a trading volume of 2,220,175 shares, compared to its average volume of 1,872,000. The stock has a market cap of $10.49 billion, a P/E ratio of 12.76 and a beta of 1.28. LKQ Co. has a 52-week low of $35.57 and a 52-week high of $53.68. The stock has a fifty day moving average of $40.18 and a 200 day moving average of $42.33. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.70 and a current ratio of 1.75.

LKQ (NASDAQ:LKQ - Get Free Report) last released its quarterly earnings data 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). LKQ had a net margin of 5.03% and a return on equity of 15.33%. The company had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.87 billion. During the same quarter in the previous year, the business posted $1.09 EPS. The business's quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts predict that LKQ Co. will post 3.55 earnings per share for the current year.

LKQ Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.05%. LKQ's payout ratio is 38.96%.

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.