Federated Hermes Inc. Purchases 33,459 Shares of LKQ Co. (NASDAQ:LKQ)

Federated Hermes Inc. raised its holdings in shares of LKQ Co. (NASDAQ:LKQ) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,317,672 shares of the auto parts company’s stock after buying an additional 33,459 shares during the period. Federated Hermes Inc. owned about 0.49% of LKQ worth $54,802,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC bought a new position in LKQ in the 4th quarter worth $263,000. Principal Securities Inc. bought a new stake in shares of LKQ in the fourth quarter worth about $80,000. BNP Paribas Financial Markets grew its holdings in LKQ by 70.6% during the 4th quarter. BNP Paribas Financial Markets now owns 227,628 shares of the auto parts company’s stock valued at $10,878,000 after buying an additional 94,224 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of LKQ by 2.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,775 shares of the auto parts company’s stock valued at $563,000 after acquiring an additional 301 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in LKQ by 10.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 266,862 shares of the auto parts company’s stock valued at $12,444,000 after purchasing an additional 26,086 shares in the last quarter. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

LKQ Stock Performance

Shares of LKQ stock opened at $41.04 on Friday. The stock has a market cap of $10.80 billion, a PE ratio of 13.32 and a beta of 1.29. LKQ Co. has a 52-week low of $35.57 and a 52-week high of $53.68. The business has a 50-day simple moving average of $41.40 and a 200-day simple moving average of $44.74. The company has a quick ratio of 0.70, a current ratio of 1.75 and a debt-to-equity ratio of 0.69.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). LKQ had a return on equity of 15.33% and a net margin of 5.03%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the company posted $1.09 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts expect that LKQ Co. will post 3.6 EPS for the current year.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.92%. LKQ’s dividend payout ratio is currently 38.96%.

Insiders Place Their Bets

In related news, SVP Matthew J. Mckay purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of $39.75 per share, with a total value of $99,375.00. Following the purchase, the senior vice president now owns 94,670 shares of the company’s stock, valued at approximately $3,763,132.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Matthew J. Mckay acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average price of $39.75 per share, with a total value of $99,375.00. Following the completion of the acquisition, the senior vice president now owns 94,670 shares of the company’s stock, valued at approximately $3,763,132.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew C. Clarke acquired 7,600 shares of LKQ stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average price of $39.70 per share, for a total transaction of $301,720.00. Following the completion of the acquisition, the director now owns 10,519 shares in the company, valued at approximately $417,604.30. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 12,600 shares of company stock worth $500,870. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

LKQ has been the topic of a number of analyst reports. Roth Mkm reiterated a “buy” rating and set a $59.00 price objective on shares of LKQ in a research report on Thursday. StockNews.com upgraded shares of LKQ from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Barrington Research reiterated an “outperform” rating and issued a $60.00 price target on shares of LKQ in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Robert W. Baird decreased their price objective on LKQ from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $58.00.

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.