Beach Investment Counsel Incpa Lowers stake in LKQ Corporation (LKQ)

LKQ Corporation (LKQ) : Beach Investment Counsel Incpa reduced its stake in LKQ Corporation by 26.94% during the most recent quarter end. The investment management company now holds a total of 52,349 shares of LKQ Corporation which is valued at $1,702,389 after selling 19,301 shares in LKQ Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.LKQ Corporation makes up approximately 0.21% of Beach Investment Counsel Incpa’s portfolio.

Other Hedge Funds, Including , Point72 Asia (hong Kong) Ltd boosted its stake in LKQ in the latest quarter, The investment management firm added 20,839 additional shares and now holds a total of 21,001 shares of LKQ Corporation which is valued at $682,953. LKQ Corporation makes up approx 0.37% of Point72 Asia (hong Kong) Ltd’s portfolio.Dekabank Deutsche Girozentrale boosted its stake in LKQ in the latest quarter, The investment management firm added 1,541 additional shares and now holds a total of 10,851 shares of LKQ Corporation which is valued at $344,953.New York State Common Retirement Fund reduced its stake in LKQ by selling 103,797 shares or 7.4% in the most recent quarter. The Hedge Fund company now holds 1,299,792 shares of LKQ which is valued at $41,320,388. LKQ Corporation makes up approx 0.06% of New York State Common Retirement Fund’s portfolio.Texas Permanent School Fund reduced its stake in LKQ by selling 4,922 shares or 4.95% in the most recent quarter. The Hedge Fund company now holds 94,578 shares of LKQ which is valued at $3,037,845. LKQ Corporation makes up approx 0.04% of Texas Permanent School Fund’s portfolio.

LKQ Corporation closed down -0.42 points or -1.29% at $32.25 with 17,77,900 shares getting traded on Monday. Post opening the session at $32.57, the shares hit an intraday low of $32.14 and an intraday high of $32.62 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, LKQ Corporation reported $0.45 EPS for the quarter, based on the information available during the earnings call on Oct 27, 2016. Analyst had a consensus estimate of $0.45. The company had revenue of $2386.83 million for the quarter, compared to analysts expectations of $2456.62 million. The company’s revenue was up 30.3% 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. Susquehanna Initiated LKQ Corporation on Aug 26, 2016 to “Positive”, Price Target of the shares are set at $42.

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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