Connor Clark & Lunn Investment Management Ltd. Makes New $1.63 Million Investment in LKQ Corporation $LKQ

Key Points

• Connor Clark & Lunn acquired 61,897 LKQ shares worth approximately $1.63 million during the second quarter. Institutional investors and hedge funds collectively own 95.63% of the company.
• Analyst sentiment is mixed, with LKQ carrying a consensus rating of “Hold” and an average price target of $31.08. Recent target reductions included JPMorgan to $30, Stephens to $36.50 and Barclays to $25, while Zacks downgraded the stock to “strong sell.”
• LKQ reported quarterly earnings of $0.67 per share, below the $0.71 consensus, while revenue fell 3% year over year to $3.41 billion. The company announced a quarterly dividend of $0.30 per share, equivalent to a 4.7% annualized yield.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in LKQ Corporation (NASDAQ:LKQ - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 61,897 shares of the auto parts company's stock, valued at approximately $1,630,000.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC increased its holdings in shares of LKQ by 260.0% during the first quarter. Harbor Investment Advisory LLC now owns 900 shares of the auto parts company's stock worth $26,000 after buying an additional 650 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of LKQ during the 2nd quarter valued at $25,000. Cedar Mountain Advisors LLC bought a new stake in LKQ during the 1st quarter worth $28,000. Global Retirement Partners LLC bought a new position in LKQ in the second quarter valued at about $25,000. Finally, Essential Partners LLC bought a new position in LKQ in the first quarter valued at about $30,000. 95.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Raymond James Financial set a $30.00 target price on shares of LKQ in a research report on Friday, July 31st. Stephens cut their price target on shares of LKQ from $39.00 to $36.50 and set an "overweight" rating on the stock in a report on Tuesday, July 21st. JPMorgan Chase & Co. reduced their price objective on shares of LKQ from $37.00 to $30.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Zacks Research lowered LKQ from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. Finally, Barclays cut their target price on LKQ from $30.00 to $25.00 and set an "equal weight" rating on the stock in a report on Monday, August 3rd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $31.08.

LKQ Stock Performance

Shares of LKQ opened at $25.53 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.61 and a debt-to-equity ratio of 0.52. The firm's fifty day simple moving average is $25.39 and its two-hundred day simple moving average is $27.96. LKQ Corporation has a 12 month low of $21.17 and a 12 month high of $37.13. The stock has a market capitalization of $6.46 billion, a P/E ratio of 14.18 and a beta of 0.84.

LKQ (NASDAQ:LKQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The auto parts company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.04). The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.48 billion. LKQ had a return on equity of 10.84% and a net margin of 3.37%.The business's revenue was down 3.0% on a year-over-year basis. During the same period last year, the business posted $0.87 earnings per share. LKQ has set its FY 2026 guidance at 2.600-2.900 EPS. As a group, analysts predict that LKQ Corporation will post 2.67 EPS for the current year.

LKQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Thursday, August 20th. LKQ's payout ratio is presently 66.67%.

LKQ Profile

LKQ Corporation is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. The company supplies a broad range of replacement components, including recycled original equipment manufacturer (OEM) parts, aftermarket parts, refurbished and remanufactured items. Its products support collision repair, mechanical repair and performance enhancement needs across passenger cars, heavy trucks and recreational vehicles.

Through a combination of in-house operations and strategic acquisitions, LKQ has developed a comprehensive product portfolio that extends beyond core replacement parts.

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