Retirement Systems of Alabama Trims Stake in LKQ Co. (NASDAQ:LKQ)

Retirement Systems of Alabama lessened its position in shares of LKQ Co. (NASDAQ:LKQ) by 7.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 221,510 shares of the auto parts company’s stock after selling 16,619 shares during the quarter. Retirement Systems of Alabama’s holdings in LKQ were worth $8,843,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new stake in LKQ during the 3rd quarter worth about $25,000. Rothschild Investment LLC acquired a new stake in shares of LKQ during the 2nd quarter worth about $33,000. Allworth Financial LP grew its holdings in shares of LKQ by 94.2% during the third quarter. Allworth Financial LP now owns 1,010 shares of the auto parts company’s stock worth $40,000 after buying an additional 490 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in shares of LKQ by 33.5% in the third quarter. Bruce G. Allen Investments LLC now owns 1,151 shares of the auto parts company’s stock valued at $46,000 after buying an additional 289 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its stake in shares of LKQ by 29.8% during the second quarter. Banque Cantonale Vaudoise now owns 1,211 shares of the auto parts company’s stock valued at $50,000 after buying an additional 278 shares during the period. Institutional investors and hedge funds own 95.63% of the company’s stock.

LKQ Stock Down 1.4 %

LKQ stock opened at $36.61 on Wednesday. The firm has a market capitalization of $9.52 billion, a P/E ratio of 13.66 and a beta of 1.29. The company has a 50-day simple moving average of $38.44 and a 200-day simple moving average of $40.24. LKQ Co. has a one year low of $35.57 and a one year high of $53.68. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.67 and a current ratio of 1.72.

LKQ (NASDAQ:LKQ) last announced its quarterly 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 company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.65 billion. LKQ had a return on equity of 15.15% and a net margin of 4.90%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. As a group, equities analysts expect that LKQ Co. will post 3.43 earnings per share for the current year.

LKQ Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 3.28%. LKQ’s dividend payout ratio (DPR) is 44.78%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LKQ shares. Barrington Research reiterated an “outperform” rating and issued a $60.00 price target on shares of LKQ in a report on Friday, October 25th. Stifel Nicolaus reduced their target price on LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. StockNews.com raised LKQ from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. upped their price objective on shares of LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Finally, Roth Mkm reissued a “buy” rating and issued a $59.00 target price on shares of LKQ in a research report on Thursday, September 12th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, LKQ currently has an average rating of “Buy” and an average target price of $53.80.

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.