Brown Advisory Inc. Cuts Stake in LKQ Co. (LKQ)

Brown Advisory Inc. lessened its stake in shares of LKQ Co. (NASDAQ:LKQ) by 7.2% in the third quarter, Holdings Channel reports. The institutional investor owned 225,835 shares of the auto parts company’s stock after selling 17,566 shares during the quarter. Brown Advisory Inc.’s holdings in LKQ were worth $7,153,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp raised its stake in LKQ by 2.5% in the 2nd quarter. Northern Trust Corp now owns 3,526,926 shares of the auto parts company’s stock worth $112,509,000 after purchasing an additional 85,952 shares in the last quarter. North Run Capital LP acquired a new stake in LKQ in the 2nd quarter worth about $10,687,000. Marshall Wace LLP acquired a new stake in LKQ in the 2nd quarter worth about $1,429,000. Oakbrook Investments LLC raised its stake in LKQ by 39.0% in the 3rd quarter. Oakbrook Investments LLC now owns 33,865 shares of the auto parts company’s stock worth $1,073,000 after purchasing an additional 9,500 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in LKQ by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,619,800 shares of the auto parts company’s stock worth $83,573,000 after purchasing an additional 9,586 shares in the last quarter. Institutional investors own 90.09% of the company’s stock.

Several equities analysts have commented on LKQ shares. Zacks Investment Research lowered shares of LKQ from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. ValuEngine lowered shares of LKQ from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Raymond James decreased their target price on shares of LKQ from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, October 10th. BidaskClub lowered shares of LKQ from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Finally, Barrington Research reissued a “buy” rating and issued a $45.00 target price on shares of LKQ in a report on Monday, October 22nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $43.25.

LKQ stock opened at $28.27 on Tuesday. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.84 and a beta of 1.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 2.65. LKQ Co. has a 12 month low of $25.35 and a 12 month high of $43.86.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings results on Thursday, October 25th. The auto parts company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.12 billion. LKQ had a net margin of 5.01% and a return on equity of 14.55%. Equities research analysts forecast that LKQ Co. will post 2.21 earnings per share for the current fiscal year.

LKQ announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 25th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to repurchase up to 5.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In related news, insider Dominick P. Zarcone purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average cost of $26.55 per share, with a total value of $53,100.00. Following the acquisition, the insider now owns 259,080 shares of the company’s stock, valued at approximately $6,878,574. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Varun Laroyia purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average cost of $26.50 per share, for a total transaction of $26,500.00. Following the completion of the acquisition, the vice president now directly owns 75,673 shares in the company, valued at approximately $2,005,334.50. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.

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About LKQ

LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles in North America, Europe, and Taiwan. It operates in three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, and lights, as well as automotive glass products, such as windshields; 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.

Further Reading: Fundamental Analysis and Choosing Stocks

Want to see what other hedge funds are holding LKQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LKQ Co. (NASDAQ:LKQ).

Institutional Ownership by Quarter for LKQ (NASDAQ:LKQ)

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