Boston Partners Acquires 3,288,048 Shares of LKQ Corporation (NASDAQ:LKQ)

Key Points

• Boston Partners has increased its stake in LKQ Corporation by 258.0%, now owning approximately 1.77% of the company, valued at $194.09 million as of the latest SEC filing.
• LKQ's recent quarterly earnings reported $0.87 per share, missing analysts' expectations, while revenue experienced a decline of 1.6% compared to the previous year at $3.64 billion.
• The company has announced a quarterly dividend of $0.30, representing an annualized yield of 3.8%, with a payout ratio of 43.96%.

Boston Partners lifted its position in LKQ Corporation (NASDAQ:LKQ - Free Report) by 258.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,562,625 shares of the auto parts company's stock after purchasing an additional 3,288,048 shares during the quarter. Boston Partners owned 1.77% of LKQ worth $194,089,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of LKQ in the 1st quarter valued at approximately $30,000. Banque Cantonale Vaudoise acquired a new stake in LKQ in the 1st quarter valued at $40,000. UMB Bank n.a. grew its position in LKQ by 104.8% in the first quarter. UMB Bank n.a. now owns 977 shares of the auto parts company's stock valued at $42,000 after acquiring an additional 500 shares during the period. Horizon Financial Services LLC acquired a new position in LKQ during the first quarter worth $42,000. Finally, Bruce G. Allen Investments LLC raised its stake in LKQ by 299.6% during the first quarter. Bruce G. Allen Investments LLC now owns 1,135 shares of the auto parts company's stock worth $48,000 after acquiring an additional 851 shares in the last quarter. 95.63% of the stock is owned by institutional investors.

LKQ Price Performance

Shares of LKQ stock traded down $0.59 during trading hours on Friday, hitting $30.97. 2,746,167 shares of the company's stock were exchanged, compared to its average volume of 4,081,445. The stock's 50-day moving average is $35.42 and its 200-day moving average is $38.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 0.69. LKQ Corporation has a 52 week low of $28.92 and a 52 week high of $44.82. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 11.34 and a beta of 0.92.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The auto parts company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.06). The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.62 billion. LKQ had a return on equity of 13.85% and a net margin of 5.04%. The firm's revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. As a group, research analysts forecast that LKQ Corporation will post 3.57 EPS for the current year.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. LKQ's dividend payout ratio (DPR) is currently 43.96%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LKQ. Barrington Research restated an "outperform" rating and issued a $60.00 target price on shares of LKQ in a research note on Tuesday, July 22nd. Wall Street Zen downgraded shares of LKQ from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Robert W. Baird decreased their price objective on shares of LKQ from $48.00 to $42.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $51.40.

About LKQ

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.