Partner Fund Management L.P. Takes Position in LKQ Co. (LKQ)

Partner Fund Management L.P. acquired a new stake in shares of LKQ Co. (NASDAQ:LKQ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,380,466 shares of the auto parts company’s stock, valued at approximately $43,719,000. Partner Fund Management L.P. owned about 0.43% of LKQ at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LKQ. FMR LLC grew its holdings in shares of LKQ by 157.2% during the third quarter. FMR LLC now owns 5,072,636 shares of the auto parts company’s stock valued at $160,650,000 after buying an additional 3,100,431 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of LKQ during the second quarter valued at about $62,981,000. American Century Companies Inc. lifted its position in shares of LKQ by 65.4% during the second quarter. American Century Companies Inc. now owns 3,102,685 shares of the auto parts company’s stock valued at $98,976,000 after purchasing an additional 1,226,523 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of LKQ by 29.9% during the second quarter. Janus Henderson Group PLC now owns 4,681,976 shares of the auto parts company’s stock valued at $149,355,000 after purchasing an additional 1,077,847 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of LKQ by 4.6% during the third 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. Hedge funds and other institutional investors own 90.09% of the company’s stock.

LKQ has been the topic of a number of recent analyst reports. BidaskClub lowered shares of LKQ from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Zacks Investment Research lowered shares of LKQ from a “hold” rating to a “sell” rating in a research report on Monday, November 19th. Raymond James dropped their price target on shares of LKQ from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. ValuEngine lowered shares of LKQ from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Finally, TheStreet lowered shares of LKQ from a “b-” rating to a “c+” rating in a research report on Tuesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $43.25.

Shares of LKQ stock opened at $26.19 on Thursday. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 0.80 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 52 week low of $25.35 and a 52 week high of $43.86.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings data on Thursday, October 25th. The auto parts company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The business 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%. Research analysts predict that LKQ Co. will post 2.21 earnings per share for the current year.

LKQ announced that its Board of Directors has approved a stock repurchase program on Thursday, October 25th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire up to 5.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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

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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.

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Institutional Ownership by Quarter for LKQ (NASDAQ:LKQ)

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