Envestnet Asset Management Inc. Acquires 162,274 Shares of LKQ Corporation (NASDAQ:LKQ)

Envestnet Asset Management Inc. boosted its holdings in LKQ Corporation (NASDAQ:LKQ) by 18.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,034,077 shares of the auto parts company’s stock after purchasing an additional 162,274 shares during the period. Envestnet Asset Management Inc. owned about 0.40% of LKQ worth $43,990,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Clarkston Capital Partners LLC acquired a new stake in LKQ in the fourth quarter valued at $91,678,000. Janney Montgomery Scott LLC acquired a new stake in LKQ in the first quarter valued at $321,000. Amalgamated Bank lifted its stake in LKQ by 1.6% in the first quarter. Amalgamated Bank now owns 50,851 shares of the auto parts company’s stock valued at $2,163,000 after acquiring an additional 801 shares during the last quarter. Aquatic Capital Management LLC lifted its stake in LKQ by 53.2% in the fourth quarter. Aquatic Capital Management LLC now owns 19,298 shares of the auto parts company’s stock valued at $709,000 after acquiring an additional 6,698 shares during the last quarter. Finally, Islay Capital Management LLC acquired a new stake in LKQ in the fourth quarter valued at $559,000. Institutional investors own 95.63% of the company’s stock.

LKQ Stock Performance

NASDAQ LKQ opened at $38.60 on Friday. The firm has a 50-day moving average of $39.33 and a 200-day moving average of $39.56. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.56 and a current ratio of 1.52. The stock has a market cap of $9.96 billion, a PE ratio of 14.40 and a beta of 0.95. LKQ Corporation has a 52-week low of $35.56 and a 52-week high of $46.64.

LKQ (NASDAQ:LKQ) last posted its earnings results on Thursday, April 24th. The auto parts company reported $0.79 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.79. LKQ had a net margin of 4.97% and a return on equity of 14.66%. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter last year, the company posted $0.82 EPS. LKQ’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that LKQ Corporation will post 3.57 EPS for the current year.

LKQ Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.11%. The ex-dividend date was Thursday, May 15th. LKQ’s dividend payout ratio (DPR) is 44.78%.

Insider Activity

In other LKQ news, Director Dominick P. Zarcone sold 5,000 shares of LKQ stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $38.02, for a total value of $190,100.00. Following the completion of the sale, the director owned 316,135 shares in the company, valued at $12,019,452.70. The trade was a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Justin L. Jude acquired 2,708 shares of the company’s stock in a transaction on Friday, April 25th. The stock was acquired at an average price of $36.99 per share, with a total value of $100,168.92. Following the purchase, the chief executive officer directly owned 280,777 shares in the company, valued at approximately $10,385,941.23. This represents a 0.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LKQ has been the subject of a number of recent analyst reports. Barrington Research reiterated an “outperform” rating and issued a $60.00 price target on shares of LKQ in a research note on Monday, April 21st. Wall Street Zen cut shares of LKQ from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.60.

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.