Kimelman & Baird LLC Sells 16,518 Shares of Copart, Inc. (NASDAQ:CPRT)

Kimelman & Baird LLC lessened its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,281,612 shares of the business services provider's stock after selling 16,518 shares during the period. Copart accounts for approximately 5.4% of Kimelman & Baird LLC's portfolio, making the stock its 2nd largest position. Kimelman & Baird LLC owned approximately 0.13% of Copart worth $67,156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kensington Investment Counsel LLC increased its holdings in shares of Copart by 2.8% in the 3rd quarter. Kensington Investment Counsel LLC now owns 60,570 shares of the business services provider's stock valued at $3,174,000 after acquiring an additional 1,653 shares during the period. Main Management ETF Advisors LLC purchased a new position in Copart during the 3rd quarter worth $895,000. Orion Portfolio Solutions LLC increased its stake in Copart by 14.2% in the third quarter. Orion Portfolio Solutions LLC now owns 100,275 shares of the business services provider's stock valued at $5,254,000 after purchasing an additional 12,434 shares during the period. DF Dent & Co. Inc. acquired a new position in Copart in the third quarter valued at $27,122,000. Finally, National Bank of Canada FI raised its holdings in shares of Copart by 90.4% in the third quarter. National Bank of Canada FI now owns 665,634 shares of the business services provider's stock valued at $34,879,000 after buying an additional 316,120 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Transactions at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the business's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares of the company's stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.68% of the company's stock.

Copart Stock Performance

Copart stock traded up $0.17 during trading hours on Friday, reaching $62.08. 2,905,943 shares of the stock were exchanged, compared to its average volume of 4,609,977. The stock has a market cap of $59.82 billion, a P/E ratio of 43.72 and a beta of 1.31. The firm's 50 day moving average is $56.07 and its 200 day moving average is $53.76. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same period in the prior year, the company posted $0.34 earnings per share. The firm's revenue for the quarter was up 12.4% on a year-over-year basis. Equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CPRT shares. Robert W. Baird dropped their price target on Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th.

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.