RNC Capital Management LLC Invests $24.85 Million in LKQ Corporation $LKQ

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 bought a new position in LKQ Corporation (NASDAQ:LKQ - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 584,153 shares of the auto parts company's stock, valued at approximately $24,850,000. RNC Capital Management LLC owned approximately 0.23% of LKQ at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in shares of LKQ in the 1st quarter worth approximately $321,000. Goodman Financial Corp lifted its holdings in shares of LKQ by 2.8% in the 1st quarter. Goodman Financial Corp now owns 317,305 shares of the auto parts company's stock worth $13,498,000 after purchasing an additional 8,502 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of LKQ in the 1st quarter worth approximately $1,618,000. PNC Financial Services Group Inc. lifted its holdings in shares of LKQ by 20.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 65,319 shares of the auto parts company's stock worth $2,779,000 after purchasing an additional 10,909 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of LKQ by 1.6% in the 1st quarter. Amalgamated Bank now owns 50,851 shares of the auto parts company's stock worth $2,163,000 after purchasing an additional 801 shares during the last quarter. Institutional investors and hedge funds own 95.63% of the company's stock.

LKQ Stock Up 0.2%

Shares of LKQ stock opened at $32.38 on Monday. LKQ Corporation has a 1 year low of $28.92 and a 1 year high of $44.82. The stock has a market cap of $8.33 billion, a PE ratio of 11.86 and a beta of 0.90. The business's fifty day moving average is $33.60 and its 200-day moving average is $38.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.69 and a current ratio of 1.81.

LKQ (NASDAQ:LKQ - Get Free Report) last issued 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 net margin of 5.04% and a return on equity of 13.85%. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter last year, the business posted $0.98 earnings per share. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. LKQ has set its FY 2025 guidance at 3.000-3.30 EPS. Equities analysts expect that LKQ Corporation will post 3.57 earnings per share for the current fiscal year.

LKQ Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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