Korea Investment CORP Increases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Korea Investment CORP raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 88.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 529,666 shares of the business services provider’s stock after acquiring an additional 249,262 shares during the period. Korea Investment CORP’s holdings in Copart were worth $30,398,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Copart by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock valued at $5,861,185,000 after purchasing an additional 976,909 shares during the period. Principal Financial Group Inc. grew its stake in shares of Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after buying an additional 941,858 shares during the period. State Street Corp increased its holdings in shares of Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after buying an additional 120,939 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Copart by 23.3% in the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after buying an additional 3,667,534 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Copart by 1.6% in the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after acquiring an additional 291,580 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Down 0.9 %

CPRT opened at $55.15 on Friday. The company has a 50 day moving average of $56.33 and a two-hundred day moving average of $56.14. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a market cap of $53.28 billion, a P/E ratio of 37.01 and a beta of 1.30.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Argus downgraded Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Insider Activity

In related news, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 385,480 shares of company stock worth $21,667,683. 9.68% of the stock is currently owned by corporate insiders.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.