Principal Financial Group Inc. Has $2.04 Billion Position in Copart, Inc. (NASDAQ:CPRT)

Principal Financial Group Inc. lifted its position in Copart, Inc. (NASDAQ:CPRT) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 38,876,517 shares of the business services provider’s stock after purchasing an additional 941,858 shares during the quarter. Copart accounts for approximately 1.1% of Principal Financial Group Inc.’s holdings, making the stock its 11th biggest holding. Principal Financial Group Inc. owned approximately 4.04% of Copart worth $2,037,130,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Private Advisor Group LLC raised its position in Copart by 1.8% in the 1st quarter. Private Advisor Group LLC now owns 24,417 shares of the business services provider’s stock valued at $1,414,000 after purchasing an additional 424 shares during the last quarter. Signaturefd LLC lifted its position in Copart by 4.0% during the 1st quarter. Signaturefd LLC now owns 16,831 shares of the business services provider’s stock worth $975,000 after buying an additional 645 shares in the last quarter. Manchester Capital Management LLC grew its holdings in Copart by 31.2% during the 1st quarter. Manchester Capital Management LLC now owns 984 shares of the business services provider’s stock worth $57,000 after acquiring an additional 234 shares during the last quarter. Empirical Finance LLC increased its position in Copart by 3.7% in the 1st quarter. Empirical Finance LLC now owns 29,795 shares of the business services provider’s stock valued at $1,726,000 after acquiring an additional 1,054 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Copart by 13.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 120,786 shares of the business services provider’s stock worth $6,996,000 after acquiring an additional 14,275 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Copart Trading Up 4.8 %

Shares of NASDAQ:CPRT opened at $55.44 on Thursday. The stock has a market capitalization of $53.41 billion, a P/E ratio of 39.88 and a beta of 1.27. Copart, Inc. has a 1-year low of $45.74 and a 1-year high of $58.58. The business has a 50-day moving average price of $52.31 and a two-hundred day moving average price of $53.01.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. Copart’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. As a group, equities analysts predict that Copart, Inc. will post 1.54 EPS for the current year.

About Copart

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.