Principal Financial Group Inc. Cuts Stake in Copart, Inc. (CPRT)
Principal Financial Group Inc. trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,304,745 shares of the business services provider’s stock after selling 112,989 shares during the quarter. Principal Financial Group Inc. owned 3.17% of Copart worth $251,063,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in shares of Copart by 2.6% during the 2nd quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock valued at $140,000 after buying an additional 111 shares during the period. Aperio Group LLC grew its stake in Copart by 0.8% during the 2nd quarter. Aperio Group LLC now owns 113,214 shares of the business services provider’s stock valued at $3,599,000 after purchasing an additional 926 shares in the last quarter. Atria Investments LLC grew its stake in Copart by 30.0% during the 2nd quarter. Atria Investments LLC now owns 6,418 shares of the business services provider’s stock valued at $204,000 after purchasing an additional 1,480 shares in the last quarter. Virginia Retirement Systems ET AL grew its stake in Copart by 8.2% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 22,400 shares of the business services provider’s stock valued at $712,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Navellier & Associates Inc grew its stake in Copart by 9.9% during the 2nd quarter. Navellier & Associates Inc now owns 19,916 shares of the business services provider’s stock valued at $633,000 after purchasing an additional 1,801 shares in the last quarter. Institutional investors own 79.44% of the company’s stock.
Shares of Copart, Inc. (CPRT) traded down $0.25 on Thursday, hitting $35.65. The stock had a trading volume of 94,131 shares, compared to its average volume of 965,478. The firm has a market cap of $8,263.71, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 1.33 and a beta of 1.24. Copart, Inc. has a one year low of $25.73 and a one year high of $36.76. The company has a current ratio of 1.94, a quick ratio of 1.91 and a debt-to-equity ratio of 0.50.
Copart (NASDAQ:CPRT) last announced its earnings results on Tuesday, September 19th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. Copart had a net margin of 27.23% and a return on equity of 31.83%. The company had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $355.42 million. During the same quarter in the previous year, the company posted $0.31 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. sell-side analysts forecast that Copart, Inc. will post 1.41 EPS for the current year.
In other Copart news, President Vincent W. Mitz sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $34.32, for a total value of $6,864,000.00. Following the completion of the sale, the president now owns 47,660 shares in the company, valued at $1,635,691.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director James E. Meeks sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $34.33, for a total value of $5,492,800.00. Following the sale, the director now owns 3,500 shares of the company’s stock, valued at approximately $120,155. The disclosure for this sale can be found here. 17.00% of the stock is owned by insiders.
CPRT has been the subject of a number of recent analyst reports. CJS Securities restated an “outperform” rating and set a $42.00 price objective on shares of Copart in a research note on Thursday, October 5th. Zacks Investment Research lowered Copart from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Robert W. Baird raised their price objective on Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, September 21st. Finally, Wolfe Research initiated coverage on Copart in a research note on Tuesday. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $37.33.
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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