Addenda Capital Inc. Boosts Stake in LKQ Co. (NASDAQ:LKQ)

Addenda Capital Inc. grew its stake in LKQ Co. (NASDAQ:LKQ) by 1.6% during the 4th quarter, Holdings Channel reports. The fund owned 179,805 shares of the auto parts company’s stock after acquiring an additional 2,795 shares during the period. Addenda Capital Inc.’s holdings in LKQ were worth $6,611,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of LKQ by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,977,708 shares of the auto parts company’s stock worth $478,150,000 after purchasing an additional 33,212 shares during the last quarter. State Street Corp boosted its position in shares of LKQ by 1.2% in the third quarter. State Street Corp now owns 11,449,166 shares of the auto parts company’s stock worth $457,051,000 after buying an additional 134,176 shares during the period. Nordea Investment Management AB boosted its position in LKQ by 11.0% during the fourth quarter. Nordea Investment Management AB now owns 8,406,444 shares of the auto parts company’s stock valued at $309,609,000 after purchasing an additional 833,519 shares during the last quarter. Geode Capital Management LLC boosted its position in LKQ by 0.3% during the third quarter. Geode Capital Management LLC now owns 6,542,740 shares of the auto parts company’s stock valued at $260,330,000 after purchasing an additional 21,161 shares during the last quarter. Finally, FMR LLC lifted its position in shares of LKQ by 7.3% in the third quarter. FMR LLC now owns 6,020,689 shares of the auto parts company’s stock worth $240,346,000 after buying an additional 411,390 shares during the last quarter. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other LKQ news, Director Dominick P. Zarcone sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $36.84, for a total value of $184,200.00. Following the sale, the director now directly owns 374,462 shares in the company, valued at $13,795,180.08. This represents a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.45% of the company’s stock.

LKQ Price Performance

Shares of NASDAQ:LKQ opened at $38.46 on Tuesday. The firm has a market cap of $10.00 billion, a PE ratio of 14.35 and a beta of 1.30. 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 Co. has a 52 week low of $35.56 and a 52 week high of $53.68. The firm’s fifty day moving average is $37.78 and its 200-day moving average is $39.40.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com upgraded LKQ from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Robert W. Baird reduced their price objective on LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Barrington Research restated an “outperform” rating and issued a $60.00 price objective on shares of LKQ in a research report on Friday, October 25th. Finally, Stifel Nicolaus reduced their price objective on shares of LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average 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.