Royal Bank of Canada Lowers Stake in LKQ Corporation $LKQ

Royal Bank of Canada lessened its position in shares of LKQ Corporation (NASDAQ:LKQ) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 245,166 shares of the auto parts company’s stock after selling 6,180 shares during the period. Royal Bank of Canada owned approximately 0.09% of LKQ worth $10,431,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LKQ. Caitong International Asset Management Co. Ltd purchased a new stake in LKQ during the first quarter valued at about $30,000. Banque Cantonale Vaudoise purchased a new stake in shares of LKQ in the first quarter worth about $40,000. UMB Bank n.a. boosted its position in shares of LKQ by 104.8% in the first quarter. UMB Bank n.a. now owns 977 shares of the auto parts company’s stock worth $42,000 after buying an additional 500 shares during the period. Horizon Financial Services LLC purchased a new stake in shares of LKQ in the first quarter worth about $42,000. Finally, Bruce G. Allen Investments LLC boosted its position in shares of LKQ by 299.6% in the first quarter. Bruce G. Allen Investments LLC now owns 1,135 shares of the auto parts company’s stock worth $48,000 after buying an additional 851 shares during the period. Hedge funds and other institutional investors own 95.63% of the company’s stock.

Wall Street Analyst Weigh In

LKQ has been the subject of several analyst reports. Wall Street Zen downgraded LKQ from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Robert W. Baird lowered their price objective on shares of LKQ from $48.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, July 25th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of LKQ in a research report on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, LKQ presently has a consensus rating of “Buy” and a consensus price target of $49.50.

LKQ Trading Up 2.6%

Shares of LKQ opened at $32.92 on Friday. The company has a market capitalization of $8.47 billion, a P/E ratio of 12.06 and a beta of 0.90. LKQ Corporation has a one year low of $28.92 and a one year high of $44.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.69 and a current ratio of 1.81. The stock has a 50-day moving average price of $33.15 and a 200 day moving average price of $37.88.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings results 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). The business had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.62 billion. LKQ had a net margin of 5.04% and a return on equity of 13.85%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS. LKQ has set its FY 2025 guidance at 3.000-3.30 EPS. Sell-side analysts forecast that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.6%. LKQ’s dividend payout ratio is currently 43.96%.

About LKQ

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.