River Road Asset Management LLC Invests $36.73 Million in LKQ Co. (LKQ) Stock

River Road Asset Management LLC acquired a new position in shares of LKQ Co. (NASDAQ:LKQ) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,547,687 shares of the auto parts company’s stock, valued at approximately $36,727,000. River Road Asset Management LLC owned about 0.49% of LKQ as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc raised its position in LKQ by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 30,855,717 shares of the auto parts company’s stock worth $977,201,000 after buying an additional 810,901 shares during the last quarter. BlackRock Inc. increased its holdings in shares of LKQ by 4.6% in the 3rd quarter. BlackRock Inc. now owns 19,909,212 shares of the auto parts company’s stock valued at $630,523,000 after purchasing an additional 866,735 shares in the last quarter. Capital World Investors purchased a new position in shares of LKQ in the 3rd quarter valued at about $288,862,000. JPMorgan Chase & Co. increased its holdings in shares of LKQ by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,938,421 shares of the auto parts company’s stock valued at $188,070,000 after purchasing an additional 181,633 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of LKQ by 26.5% in the 3rd quarter. Nordea Investment Management AB now owns 5,075,225 shares of the auto parts company’s stock valued at $160,732,000 after purchasing an additional 1,062,738 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

NASDAQ:LKQ traded up $0.19 during mid-day trading on Wednesday, hitting $26.89. 24,379 shares of the company’s stock traded hands, compared to its average volume of 2,969,295. The company has a current ratio of 2.65, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. LKQ Co. has a 1 year low of $22.74 and a 1 year high of $42.49. The company has a market capitalization of $8.35 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 0.70 and a beta of 1.25.

LKQ declared that its board has authorized a stock buyback plan on Thursday, October 25th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the auto parts company to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In other LKQ news, EVP John S. Quinn sold 9,806 shares of the firm’s stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $26.56, for a total transaction of $260,447.36. Following the completion of the transaction, the executive vice president now directly owns 253,578 shares in the company, valued at approximately $6,735,031.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.

LKQ has been the subject of a number of research analyst reports. Barrington Research reiterated a “buy” rating and issued a $45.00 price target on shares of LKQ in a report on Monday, October 22nd. TheStreet downgraded shares of LKQ from a “b-” rating to a “c+” rating in a report on Tuesday, October 23rd. Zacks Investment Research reiterated a “sell” rating on shares of LKQ in a report on Tuesday, November 13th. Finally, BidaskClub upgraded shares of LKQ from a “strong sell” rating to a “sell” rating in a report on Thursday, January 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.00.

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LKQ Company Profile

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: How Important is Technical Analysis of Stocks

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Institutional Ownership by Quarter for LKQ (NASDAQ:LKQ)

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