Channing Capital Management LLC Makes New Investment 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 purchased a new position in LKQ Corporation (NASDAQ:LKQ - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 250,542 shares of the auto parts company's stock, valued at approximately $10,658,000. Channing Capital Management LLC owned approximately 0.10% of LKQ as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in LKQ in the first quarter worth approximately $321,000. Goodman Financial Corp boosted its holdings in LKQ by 2.8% in the first quarter. Goodman Financial Corp now owns 317,305 shares of the auto parts company's stock worth $13,498,000 after acquiring an additional 8,502 shares in the last quarter. Teacher Retirement System of Texas bought a new position in LKQ in the first quarter worth approximately $1,618,000. PNC Financial Services Group Inc. boosted its holdings in LKQ by 20.0% in the first quarter. PNC Financial Services Group Inc. now owns 65,319 shares of the auto parts company's stock worth $2,779,000 after acquiring an additional 10,909 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in LKQ by 1.6% in the first quarter. Amalgamated Bank now owns 50,851 shares of the auto parts company's stock worth $2,163,000 after acquiring an additional 801 shares in the last quarter. Institutional investors own 95.63% of the company's stock.

LKQ Stock Performance

Shares of LKQ opened at $30.62 on Thursday. The company has a current ratio of 1.81, a quick ratio of 0.69 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 11.22 and a beta of 0.92. The stock has a 50 day moving average of $34.91 and a 200 day moving average of $38.60. LKQ Corporation has a 12 month low of $28.92 and a 12 month high of $44.82.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.62 billion. LKQ had a net margin of 5.04% and a return on equity of 13.85%. The business's revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 earnings per share. LKQ has set its FY 2025 guidance at 3.000-3.30 EPS. As a group, sell-side analysts forecast that LKQ Corporation will post 3.57 earnings per share for the current year.

LKQ Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LKQ. Wall Street Zen lowered LKQ from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Barrington Research reiterated an "outperform" rating and issued a $60.00 price target on shares of LKQ in a report on Tuesday, July 22nd. Finally, Robert W. Baird dropped their target price on LKQ from $48.00 to $42.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, LKQ currently has an average rating of "Buy" and an average price target of $51.40.

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.

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