Palisade Capital Managementnj buys $29.6 Million stake in LKQ Corporation (LKQ)

LKQ Corporation (LKQ) : Palisade Capital Managementnj scooped up 51,086 additional shares in LKQ Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 915,222 shares of LKQ Corporation which is valued at $29.6 Million.LKQ Corporation makes up approximately 1.15% of Palisade Capital Managementnj’s portfolio.

Other Hedge Funds, Including , Convergence Investment Partners reduced its stake in LKQ by selling 76,700 shares or 58.56% in the most recent quarter. The Hedge Fund company now holds 54,282 shares of LKQ which is valued at $1.8 Million. LKQ Corporation makes up approx 0.21% of Convergence Investment Partners’s portfolio. Allegis Investment Advisors sold out all of its stake in LKQ during the most recent quarter. The investment firm sold 510 shares of LKQ which is valued $16,473.Bbva Compass Bancshares Inc reduced its stake in LKQ by selling 162 shares or 0.72% in the most recent quarter. The Hedge Fund company now holds 22,379 shares of LKQ which is valued at $727,541. LKQ Corporation makes up approx 0.05% of Bbva Compass Bancshares Inc’s portfolio.Boston Family Office boosted its stake in LKQ in the latest quarter, The investment management firm added 8,425 additional shares and now holds a total of 161,350 shares of LKQ Corporation which is valued at $5.2 Million. LKQ Corporation makes up approx 0.68% of Boston Family Office’s portfolio.

LKQ Corporation opened for trading at $32.42 and hit $33.05 on the upside on Monday, eventually ending the session at $32.71, with a gain of 1.27% or 0.41 points. The heightened volatility saw the trading volume jump to 22,31,322 shares. Company has a market cap of $10,031 M.

On the company’s financial health, LKQ Corporation reported $0.42 EPS for the quarter, based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus estimate of $0.42. The company had revenue of $1921.50 million for the quarter, compared to analysts expectations of $1907.68 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on LKQ Corporation. Company shares were Reiterated by Sterne Agee CRT on Apr 12, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $38 .Sterne Agee CRT Initiated LKQ Corporation on Mar 2, 2016 to “Buy”, Price Target of the shares are set at $38.

LKQ Corporation is a distributor of vehicle products including replacement parts components and systems used in the repair and maintenance of vehicles as well as specialty vehicle products and accessories. The company distributes a variety of products to collision and mechanical repair shops including aftermarket collision and mechanical products recycled collision and mechanical products refurbished collision products such as wheels bumper covers and lights and remanufactured engines. It is a provider of alternative vehicle collision replacement products and alternative vehicle mechanical replacement products with its sales processing and distribution facilities reaching markets in the United States and Canada. It also provides alternative vehicle replacement and maintenance products in the United Kingdom and the Benelux region of continental Europe. The Company is organized into four segments: Wholesale – North America; Wholesale – Europe; Self Service and Specialty.

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