Kayne Anderson Rudnick Investment Management LLC Buys 47,905 Shares of LKQ Corporation $LKQ

Key Points

• Kayne Anderson Rudnick Investment Management LLC significantly increased its holdings in LKQ Corporation by 72.9%, acquiring an additional 47,905 shares, bringing their total to 113,585 shares valued at approximately $4.8 million.
• Several institutional investors have also made substantial changes in their positions in LKQ, with notable increases from Boston Partners and D. E. Shaw & Co. Inc. among others, suggesting strong interest from the investment community.
• LKQ's stock recently experienced mixed analyst ratings, with a price target reduction by Robert W. Baird, while Barrington Research maintained an "outperform" rating with a price target of $60.

Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 72.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,585 shares of the auto parts company's stock after acquiring an additional 47,905 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in LKQ were worth $4,832,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of LKQ by 1.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,774 shares of the auto parts company's stock valued at $799,000 after acquiring an additional 286 shares during the period. MetLife Investment Management LLC grew its position in LKQ by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 68,790 shares of the auto parts company's stock worth $2,528,000 after buying an additional 352 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in LKQ by 10.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,062 shares of the auto parts company's stock worth $173,000 after buying an additional 379 shares during the last quarter. Smartleaf Asset Management LLC grew its position in LKQ by 13.5% in the first quarter. Smartleaf Asset Management LLC now owns 3,348 shares of the auto parts company's stock worth $139,000 after buying an additional 397 shares during the last quarter. Finally, Wahed Invest LLC grew its position in LKQ by 6.4% in the fourth quarter. Wahed Invest LLC now owns 6,779 shares of the auto parts company's stock worth $249,000 after buying an additional 405 shares during the last quarter. Institutional investors and hedge funds own 95.63% of the company's stock.

LKQ Stock Performance

LKQ stock traded up $0.37 on Friday, reaching $32.62. 3,308,045 shares of the stock were exchanged, compared to its average volume of 4,340,473. The stock has a market cap of $8.39 billion, a PE ratio of 11.95 and a beta of 0.92. The company has a current ratio of 1.81, a quick ratio of 0.69 and a debt-to-equity ratio of 0.19. LKQ Corporation has a twelve month low of $28.92 and a twelve month high of $44.82. The firm has a fifty day moving average price of $34.09 and a two-hundred day moving average price of $38.34.

LKQ (NASDAQ:LKQ - Get Free Report) last released 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 firm had revenue of $3.64 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. LKQ has set its FY 2025 guidance at 3.000-3.30 EPS. Sell-side analysts anticipate that LKQ Corporation will post 3.57 EPS for the current year.

LKQ Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.7%. LKQ's payout ratio is presently 43.96%.

Analyst Ratings Changes

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

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.