Maren Capital LLC Raises Stock Holdings in Copart, Inc. $CPRT

Maren Capital LLC boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 24.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,501,367 shares of the business services provider’s stock after buying an additional 297,050 shares during the quarter. Copart accounts for about 4.4% of Maren Capital LLC’s holdings, making the stock its 11th biggest holding. Maren Capital LLC owned approximately 0.16% of Copart worth $73,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CPRT. Norges Bank acquired a new stake in Copart in the 2nd quarter valued at approximately $549,448,000. Nuveen LLC purchased a new stake in shares of Copart in the 1st quarter valued at $267,723,000. Fiera Capital Corp lifted its stake in Copart by 75.3% during the 2nd quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider’s stock worth $343,511,000 after acquiring an additional 3,007,820 shares in the last quarter. PineStone Asset Management Inc. grew its position in Copart by 56.4% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider’s stock valued at $314,415,000 after acquiring an additional 2,310,067 shares in the last quarter. Finally, Amundi increased its stake in Copart by 32.5% during the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after purchasing an additional 2,299,192 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the transaction, the chief executive officer directly owned 31,332 shares in the company, valued at $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 353,123 shares of company stock valued at $15,873,689. Insiders own 9.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CPRT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Robert W. Baird lowered their target price on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. HSBC set a $62.00 price target on Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Finally, Stephens lowered their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Copart presently has a consensus rating of “Hold” and an average price target of $47.60.

Copart Stock Down 0.5%

Shares of Copart stock opened at $38.96 on Wednesday. The firm’s 50 day moving average is $42.74 and its two-hundred day moving average is $46.62. Copart, Inc. has a 52 week low of $38.61 and a 52 week high of $63.85. The firm has a market capitalization of $37.71 billion, a P/E ratio of 23.76 and a beta of 1.12.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Copart had a net margin of 34.24% and a return on equity of 17.78%. Copart’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Copart 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.