Ilmarinen Mutual Pension Insurance Co Boosts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Ilmarinen Mutual Pension Insurance Co grew its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 56.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,000 shares of the business services provider's stock after acquiring an additional 55,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Copart were worth $8,781,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sandy Spring Bank boosted its stake in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after purchasing an additional 176 shares during the period. Quarry LP acquired a new stake in Copart during the third quarter worth about $29,000. Curio Wealth LLC acquired a new stake in shares of Copart in the 4th quarter valued at approximately $52,000. Continuum Advisory LLC increased its holdings in Copart by 88.6% in the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider's stock worth $55,000 after purchasing an additional 452 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in Copart during the 4th quarter worth $54,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Wall Street Analyst Weigh In

Separately, Argus lowered Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Remove Ads

Copart Stock Up 1.9 %

Shares of NASDAQ CPRT traded up $1.11 during trading hours on Friday, reaching $59.77. 2,791,195 shares of the stock traded hands, compared to its average volume of 4,380,003. The company's 50-day simple moving average is $56.08 and its two-hundred day simple moving average is $56.58. The company has a market capitalization of $57.74 billion, a P/E ratio of 40.22 and a beta of 1.22. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping 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 company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 9.68% of the company's stock.

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.