MU Investments Co. Ltd. lowered its position in shares of FleetCor Technologies Inc. (NYSE:FLT) by 45.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,130 shares of the company’s stock after selling 950 shares during the period. MU Investments Co. Ltd.’s holdings in FleetCor Technologies were worth $162,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. BB&T Securities LLC increased its position in shares of FleetCor Technologies by 4.4% in the first quarter. BB&T Securities LLC now owns 6,953 shares of the company’s stock worth $1,034,000 after buying an additional 296 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of FleetCor Technologies by 307.7% in the first quarter. Canada Pension Plan Investment Board now owns 205,512 shares of the company’s stock worth $30,570,000 after buying an additional 155,100 shares in the last quarter. Credit Agricole S A increased its position in shares of FleetCor Technologies by 2.4% in the first quarter. Credit Agricole S A now owns 12,106 shares of the company’s stock worth $1,801,000 after buying an additional 279 shares in the last quarter. Aviva PLC increased its position in shares of FleetCor Technologies by 1.1% in the first quarter. Aviva PLC now owns 38,895 shares of the company’s stock worth $5,786,000 after buying an additional 428 shares in the last quarter. Finally, Howard Hughes Medical Institute acquired a new position in shares of FleetCor Technologies during the first quarter worth $5,206,000. Institutional investors and hedge funds own 92.15% of the company’s stock.
FleetCor Technologies Inc. (NYSE:FLT) traded up 1.77% during trading on Wednesday, hitting $174.48. The company had a trading volume of 995,804 shares. The stock has a 50-day moving average of $166.77 and a 200-day moving average of $153.21. The stock has a market capitalization of $16.15 billion, a PE ratio of 41.83 and a beta of 1.25. FleetCor Technologies Inc. has a one year low of $107.56 and a one year high of $174.55.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.02. FleetCor Technologies had a net margin of 22.97% and a return on equity of 18.16%. The company earned $417.90 million during the quarter, compared to the consensus estimate of $415.20 million. During the same period in the previous year, the business earned $1.48 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that FleetCor Technologies Inc. will post $6.86 EPS for the current year.
A number of brokerages have recently weighed in on FLT. Barclays PLC lifted their price target on FleetCor Technologies from $170.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, September 21st. Monness Crespi & Hardt lifted their price target on FleetCor Technologies from $173.00 to $186.00 and gave the company a “buy” rating in a report on Monday, September 19th. Deutsche Bank AG restated a “buy” rating and issued a $163.00 target price (down previously from $180.00) on shares of FleetCor Technologies in a research note on Thursday, September 1st. Zacks Investment Research downgraded FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, JPMorgan Chase & Co. boosted their target price on FleetCor Technologies from $159.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. FleetCor Technologies currently has an average rating of “Buy” and a consensus target price of $169.25.
In other FleetCor Technologies news, CEO Ronald Clarke sold 243,617 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $167.37, for a total transaction of $40,774,177.29. Following the completion of the transaction, the chief executive officer now directly owns 349,283 shares in the company, valued at $58,459,495.71. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Charles Richard Freund sold 21,969 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $149.00, for a total transaction of $3,273,381.00. Following the transaction, the executive vice president now owns 30,663 shares of the company’s stock, valued at $4,568,787. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.
About FleetCor Technologies
FleetCor Technologies, Inc is an independent global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand.
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