Engineers Gate Manager LP Acquires New Position in LKQ Corporation $LKQ

Key Points

• Engineers Gate Manager LP acquired 130,581 LKQ shares worth approximately $3.4 million during the second quarter. Institutional investors collectively own 95.63% of the company, including major new positions from BlackRock and Pzena Investment Management.
• Analysts have a consensus “Hold” rating on LKQ, with an average price target of $31.08. Recent targets range from $30.00 to $36.50, though several firms lowered their forecasts.
• LKQ reported quarterly EPS of $0.67, below the $0.71 estimate, while revenue fell 3% year over year to $3.41 billion. The company pays a quarterly dividend of $0.30, equivalent to a 5.0% annualized yield.

Engineers Gate Manager LP purchased a new stake in LKQ Corporation (NASDAQ:LKQ - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 130,581 shares of the auto parts company's stock, valued at approximately $3,438,000. Engineers Gate Manager LP owned 0.05% of LKQ at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of LKQ during the 2nd quarter valued at approximately $1,015,096,000. Pzena Investment Management LLC purchased a new position in LKQ in the 2nd quarter valued at approximately $398,696,000. California State Teachers Retirement System raised its holdings in LKQ by 2,498.6% during the second quarter. California State Teachers Retirement System now owns 7,786,940 shares of the auto parts company's stock worth $205,030,000 after purchasing an additional 7,487,277 shares during the last quarter. Nykredit A S acquired a new position in LKQ during the second quarter worth $84,795,000. Finally, Bank of New York Mellon Corp purchased a new stake in LKQ during the second quarter worth $76,343,000. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on LKQ shares. Robert W. Baird set a $30.00 price objective on shares of LKQ in a research report on Friday, July 31st. Stephens dropped their target price on shares of LKQ from $39.00 to $36.50 and set an "overweight" rating for the company in a report on Tuesday, July 21st. JPMorgan Chase & Co. cut their target price on shares of LKQ from $37.00 to $30.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Roth Capital set a $35.00 price target on shares of LKQ in a research report on Monday, August 3rd. Finally, Raymond James Financial set a $30.00 price objective on shares of LKQ in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $31.08.

LKQ Stock Performance

Shares of LKQ stock opened at $24.11 on Monday. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 13.39 and a beta of 0.85. 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 has a 50-day moving average price of $25.09 and a 200 day moving average price of $27.28. LKQ Corporation has a twelve month low of $21.17 and a twelve month high of $37.13.

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

LKQ Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Thursday, August 20th. LKQ's payout ratio is presently 66.67%.

LKQ Profile

LKQ Corporation is a global distributor of replacement parts, components and accessories for automobiles, trucks and other vehicles. The company supplies collision and mechanical repair parts, recycled original equipment parts, remanufactured components, aftermarket products and specialty vehicle equipment to professional repair businesses, insurers, dealerships and other customers.

LKQ operates through a network of distribution centers, parts facilities, salvage yards and self-service locations.

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