Channing Capital Management LLC Purchases New Position in LKQ Corporation $LKQ

Key Points

• Channing Capital Management LLC invested approximately $10.7 million in LKQ Corporation, purchasing 250,542 shares during the first quarter, making it a notable addition to institutional investor holdings which collectively own 95.63% of the company.
• LKQ's quarterly earnings revealed an EPS of $0.87, which missed analysts' expectations of $0.93, alongside a revenue of $3.64 billion, slightly above the forecast of $3.62 billion.
• The company recently announced a quarterly dividend of $0.30 per share, translating to an annualized dividend yield of 3.9% with a payout ratio of 43.96%.

Channing Capital Management LLC acquired a new position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 250,542 shares of the auto parts company's stock, valued at approximately $10,658,000. Channing Capital Management LLC owned about 0.10% of LKQ at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on LKQ. Barrington Research restated an "outperform" rating and set a $60.00 price objective on shares of LKQ in a report on Tuesday, July 22nd. Robert W. Baird cut their price objective on LKQ from $48.00 to $42.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Finally, Wall Street Zen downgraded LKQ from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Five analysts have rated the stock with a Buy rating, According to MarketBeat, LKQ has a consensus rating of "Buy" and an average price target of $51.40.

LKQ Stock Down 0.3%

Shares of LKQ traded down $0.10 during trading hours on Tuesday, reaching $31.61. The company's stock had a trading volume of 1,322,683 shares, compared to its average volume of 2,591,252. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 11.58 and a beta of 0.92. LKQ Corporation has a 1-year low of $28.92 and a 1-year high of $44.82. The company has a quick ratio of 0.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $34.49 and a two-hundred day moving average of $38.50.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its earnings results on Thursday, July 24th. The auto parts company reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.06). The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.62 billion. LKQ had a net margin of 5.04% and a return on equity of 13.85%. LKQ's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. LKQ has set its FY 2025 guidance at 3.000-3.30 EPS. As a group, research analysts predict that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.8%. LKQ's payout ratio is presently 43.96%.

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.