Palisade Capital Management LP Invests $7.05 Million in LKQ Corporation $LKQ

Palisade Capital Management LP bought a new stake in shares of LKQ Corporation (NASDAQ:LKQ) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 267,691 shares of the auto parts company’s stock, valued at approximately $7,048,000.

Several other institutional investors have also recently added to or reduced their stakes in LKQ. BlackRock Inc. bought a new position in shares of LKQ during the 2nd quarter worth approximately $1,015,096,000. Pzena Investment Management LLC acquired a new stake in LKQ in the second quarter worth $398,696,000. Bank of New York Mellon Corp bought a new stake in LKQ in the second quarter valued at $76,343,000. Seizert Capital Partners LLC grew its stake in shares of LKQ by 30.1% in the 4th quarter. Seizert Capital Partners LLC now owns 2,178,703 shares of the auto parts company’s stock valued at $65,797,000 after buying an additional 503,998 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in LKQ in the 2nd quarter valued at about $47,649,000. 95.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on LKQ. Stephens cut their price target on LKQ from $39.00 to $36.50 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Robert W. Baird set a $30.00 price target on shares of LKQ in a research note on Friday, July 31st. Barclays reduced their price objective on shares of LKQ from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Monday, August 3rd. Roth Capital set a $35.00 price target on shares of LKQ in a research report on Monday, August 3rd. Finally, Weiss Ratings downgraded LKQ from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.08.

LKQ Stock Down 1.4%

LKQ stock opened at $25.37 on Wednesday. The stock has a market cap of $6.42 billion, a P/E ratio of 14.09 and a beta of 0.84. The company has a current ratio of 1.58, a quick ratio of 0.61 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $25.39 and its two-hundred day simple moving average is $28.10. LKQ Corporation has a 1-year low of $21.17 and a 1-year high of $37.13.

LKQ (NASDAQ:LKQ) last announced its earnings results on Thursday, July 30th. The auto parts company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.04). The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.48 billion. LKQ had a net margin of 3.37% and a return on equity of 10.84%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share. LKQ has set its FY 2026 guidance at 2.600-2.900 EPS. Analysts expect that LKQ Corporation will post 2.67 EPS for the current year.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, August 20th. This represents a $1.20 annualized dividend and a dividend yield of 4.7%. LKQ’s dividend payout ratio (DPR) is presently 66.67%.

LKQ Profile

LKQ Corporation is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. The company supplies a broad range of replacement components, including recycled original equipment manufacturer (OEM) parts, aftermarket parts, refurbished and remanufactured items. Its products support collision repair, mechanical repair and performance enhancement needs across passenger cars, heavy trucks and recreational vehicles.

Through a combination of in-house operations and strategic acquisitions, LKQ has developed a comprehensive product portfolio that extends beyond core replacement parts.