Invenomic Capital Management LP Cuts Stock Holdings in LKQ Co. (NASDAQ:LKQ)

Invenomic Capital Management LP trimmed its position in shares of LKQ Co. (NASDAQ:LKQ) by 16.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,052 shares of the auto parts company’s stock after selling 34,782 shares during the quarter. Invenomic Capital Management LP owned approximately 0.07% of LKQ worth $7,148,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers increased its holdings in LKQ by 165.3% in the 1st quarter. Cetera Investment Advisers now owns 45,940 shares of the auto parts company’s stock worth $2,454,000 after acquiring an additional 28,623 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of LKQ by 135.3% during the first quarter. Cetera Advisors LLC now owns 27,170 shares of the auto parts company’s stock worth $1,451,000 after buying an additional 15,621 shares in the last quarter. DNB Asset Management AS grew its holdings in shares of LKQ by 18.8% during the second quarter. DNB Asset Management AS now owns 49,974 shares of the auto parts company’s stock worth $2,078,000 after buying an additional 7,914 shares in the last quarter. Linden Thomas Advisory Services LLC grew its holdings in shares of LKQ by 2.5% during the second quarter. Linden Thomas Advisory Services LLC now owns 21,543 shares of the auto parts company’s stock worth $896,000 after buying an additional 516 shares in the last quarter. Finally, Olstein Capital Management L.P. grew its holdings in shares of LKQ by 36.8% during the second quarter. Olstein Capital Management L.P. now owns 202,000 shares of the auto parts company’s stock worth $8,401,000 after buying an additional 54,381 shares in the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

LKQ Stock Up 1.4 %

LKQ stock opened at $39.83 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.69. LKQ Co. has a twelve month low of $35.57 and a twelve month high of $53.68. The company’s 50 day moving average is $38.61 and its two-hundred day moving average is $40.56. The stock has a market cap of $10.35 billion, a P/E ratio of 14.66 and a beta of 1.29.

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

LKQ Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.01%. LKQ’s dividend payout ratio (DPR) is 44.78%.

Wall Street Analysts Forecast Growth

LKQ has been the topic of several recent research reports. StockNews.com raised shares of LKQ from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Stifel Nicolaus lowered their price target on shares of LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Barrington Research reaffirmed an “outperform” rating and issued a $60.00 target price on shares of LKQ in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on shares of LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Finally, Robert W. Baird decreased their target price on shares of LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, LKQ currently has a consensus rating of “Buy” and an average target price of $53.80.

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.