584,153 Shares in LKQ Corporation $LKQ Acquired by RNC Capital Management LLC

Key Points

• RNC Capital Management LLC invested $24.85 million in LKQ Corporation, acquiring approximately 584,153 shares, representing about 0.23% of the company's stock.
• LKQ Corporation reported $0.87 earnings per share for the latest quarter, falling short of the consensus estimate of $0.93, with a revenue of $3.64 billion.
• The company announced a quarterly dividend of $0.30 per share, yielding 3.7% annually, and has a payout ratio of 43.96%.

RNC Capital Management LLC purchased a new position in shares of 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. The fund purchased 584,153 shares of the auto parts company's stock, valued at approximately $24,850,000. RNC Capital Management LLC owned 0.23% of LKQ as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of LKQ during the 1st quarter worth $30,000. Banque Cantonale Vaudoise purchased a new position in shares of LKQ during the 1st quarter worth $40,000. UMB Bank n.a. raised its holdings in shares of LKQ by 104.8% during the 1st quarter. UMB Bank n.a. now owns 977 shares of the auto parts company's stock worth $42,000 after acquiring an additional 500 shares during the period. Horizon Financial Services LLC purchased a new position in shares of LKQ during the 1st quarter worth $42,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of LKQ by 299.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,135 shares of the auto parts company's stock worth $48,000 after purchasing an additional 851 shares during the last quarter. Hedge funds and other institutional investors own 95.63% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Robert W. Baird cut their price objective on LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Wall Street Zen downgraded LKQ from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $60.00 target price on shares of LKQ in a research report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, LKQ presently has an average rating of "Buy" and an average target price of $49.50.

LKQ Stock Down 1.9%

Shares of LKQ stock traded down $0.62 on Friday, reaching $32.30. 1,721,679 shares of the company were exchanged, compared to its average volume of 4,094,507. LKQ Corporation has a 1-year low of $28.92 and a 1-year high of $44.82. The company has a market cap of $8.31 billion, a P/E ratio of 11.83 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. The stock's 50 day moving average price is $33.03 and its 200-day moving average price is $37.82.

LKQ (NASDAQ:LKQ - Get Free Report) last announced its quarterly earnings data 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). LKQ had a return on equity of 13.85% and a net margin of 5.04%.The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The business's quarterly 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. As a group, equities analysts forecast that LKQ Corporation will post 3.57 EPS for the current year.

LKQ Dividend Announcement

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

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.