Mitsubishi UFJ Trust & Banking Corp trimmed its position in FleetCor Technologies, Inc. (NYSE:FLT) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,465 shares of the business services provider’s stock after selling 1,614 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.20% of FleetCor Technologies worth $28,085,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Commonwealth Bank of Australia lifted its holdings in shares of FleetCor Technologies by 13.0% in the second quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock worth $105,000 after buying an additional 85 shares in the last quarter. First Personal Financial Services raised its stake in FleetCor Technologies by 49.9% in the second quarter. First Personal Financial Services now owns 790 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 263 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in FleetCor Technologies in the second quarter valued at approximately $115,000. FNY Partners Fund LP purchased a new stake in FleetCor Technologies in the third quarter valued at approximately $125,000. Finally, Toronto Dominion Bank raised its stake in FleetCor Technologies by 11.1% in the second quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock valued at $163,000 after purchasing an additional 113 shares in the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on FLT shares. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Tuesday, August 8th. BidaskClub downgraded shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Credit Suisse Group reaffirmed an “outperform” rating on shares of FleetCor Technologies in a research note on Tuesday, September 5th. Jefferies Group reaffirmed a “buy” rating and issued a $197.00 target price on shares of FleetCor Technologies in a research note on Saturday, September 16th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $185.00 target price on shares of FleetCor Technologies in a research note on Tuesday, September 26th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. FleetCor Technologies currently has a consensus rating of “Buy” and an average price target of $187.31.
In other FleetCor Technologies news, insider Kurt Patrick Adams sold 7,099 shares of FleetCor Technologies stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the transaction, the insider now directly owns 9,246 shares of the company’s stock, valued at $1,571,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.60% of the company’s stock.
FleetCor Technologies, Inc. (NYSE FLT) traded up $0.27 during mid-day trading on Wednesday, hitting $183.87. 660,000 shares of the company’s stock traded hands, compared to its average volume of 1,144,718. The stock has a market capitalization of $16,443.36, a P/E ratio of 24.84, a PEG ratio of 1.34 and a beta of 1.53. FleetCor Technologies, Inc. has a 52-week low of $121.52 and a 52-week high of $186.04. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.84.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Wednesday, November 1st. The business services provider reported $2.18 EPS for the quarter, topping the consensus estimate of $2.14 by $0.04. The firm had revenue of $577.90 million for the quarter, compared to the consensus estimate of $576.78 million. FleetCor Technologies had a net margin of 25.66% and a return on equity of 20.99%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted $1.92 earnings per share. equities analysts forecast that FleetCor Technologies, Inc. will post 7.75 EPS for the current fiscal year.
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FleetCor Technologies Company Profile
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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