LKQ Corporation $LKQ Shares Sold by Engine Capital Management LP

Key Points

• Engine Capital Management LP decreased its holdings in LKQ Corporation by 9.3%, now owning approximately 1.27 million shares, which accounts for 10.2% of its portfolio.
• The company reported quarterly earnings of $0.87 per share, missing analyst estimates of $0.93, with a revenue of $3.64 billion, slightly higher than the expected $3.62 billion.
• LKQ recently announced a quarterly dividend of $0.30 per share, translating to an annualized dividend of $1.20, which offers a yield of 3.8%.

Engine Capital Management LP trimmed its position in LKQ Corporation (NASDAQ:LKQ - Free Report) by 9.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,266,614 shares of the auto parts company's stock after selling 130,000 shares during the quarter. LKQ makes up 10.2% of Engine Capital Management LP's portfolio, making the stock its 2nd biggest position. Engine Capital Management LP owned 0.49% of LKQ worth $53,882,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of LKQ by 14.8% during the first quarter. Dimensional Fund Advisors LP now owns 6,003,769 shares of the auto parts company's stock worth $255,384,000 after purchasing an additional 771,829 shares during the period. Ancora Advisors LLC increased its holdings in LKQ by 95.7% in the first quarter. Ancora Advisors LLC now owns 5,477,467 shares of the auto parts company's stock valued at $233,011,000 after purchasing an additional 2,678,964 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in LKQ by 4.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,692,421 shares of the auto parts company's stock valued at $199,616,000 after purchasing an additional 187,713 shares during the last quarter. Boston Partners increased its holdings in LKQ by 258.0% in the first quarter. Boston Partners now owns 4,562,625 shares of the auto parts company's stock valued at $194,089,000 after purchasing an additional 3,288,048 shares during the last quarter. Finally, EdgePoint Investment Group Inc. bought a new stake in LKQ in the fourth quarter valued at about $160,339,000. 95.63% of the stock is currently owned by institutional investors and hedge funds.

LKQ Trading Up 0.7%

Shares of LKQ stock traded up $0.23 during trading hours on Monday, hitting $32.61. The company's stock had a trading volume of 2,566,959 shares, compared to its average volume of 2,775,136. LKQ Corporation has a 12 month low of $28.92 and a 12 month high of $44.82. The stock has a 50 day moving average of $33.60 and a 200 day moving average of $38.08. The company has a market capitalization of $8.39 billion, a PE ratio of 11.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 0.69.

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

LKQ Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LKQ shares. Barrington Research reiterated an "outperform" rating and issued a $60.00 price objective on shares of LKQ in a report on Tuesday, July 22nd. Robert W. Baird dropped their price objective on LKQ from $48.00 to $42.00 and set an "outperform" rating for the company 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 equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus 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.