Strs Ohio raised its stake in FleetCor Technologies, Inc. (NYSE:FLT) by 229.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,649 shares of the business services provider’s stock after purchasing an additional 6,027 shares during the quarter. Strs Ohio’s holdings in FleetCor Technologies were worth $1,970,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of FLT. BlackRock Inc. boosted its stake in shares of FleetCor Technologies by 20.2% during the 2nd quarter. BlackRock Inc. now owns 7,464,198 shares of the business services provider’s stock worth $1,572,333,000 after acquiring an additional 1,254,098 shares during the period. Jennison Associates LLC lifted its holdings in FleetCor Technologies by 14.4% during the 2nd quarter. Jennison Associates LLC now owns 4,598,370 shares of the business services provider’s stock worth $968,647,000 after purchasing an additional 577,206 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in FleetCor Technologies by 146.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 892,986 shares of the business services provider’s stock worth $188,107,000 after purchasing an additional 530,211 shares during the last quarter. Morgan Stanley lifted its holdings in FleetCor Technologies by 448.6% during the 2nd quarter. Morgan Stanley now owns 545,098 shares of the business services provider’s stock worth $114,824,000 after purchasing an additional 445,740 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in FleetCor Technologies by 76.7% during the 2nd quarter. Northern Trust Corp now owns 941,094 shares of the business services provider’s stock worth $198,242,000 after purchasing an additional 408,595 shares during the last quarter. Hedge funds and other institutional investors own 98.30% of the company’s stock.
Shares of FleetCor Technologies stock traded down $0.20 during trading on Thursday, reaching $188.11. 826,425 shares of the company’s stock were exchanged, compared to its average volume of 913,259. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.92. FleetCor Technologies, Inc. has a 1-year low of $177.71 and a 1-year high of $230.24. The stock has a market capitalization of $23.13 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 1.16 and a beta of 1.51.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Tuesday, October 30th. The business services provider reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.02. FleetCor Technologies had a return on equity of 24.22% and a net margin of 33.01%. The company had revenue of $619.60 million during the quarter, compared to analysts’ expectations of $609.75 million. During the same quarter in the previous year, the firm earned $2.18 EPS. FleetCor Technologies’s revenue was up 7.2% on a year-over-year basis. On average, research analysts forecast that FleetCor Technologies, Inc. will post 9.85 earnings per share for the current year.
Several research firms recently weighed in on FLT. Morgan Stanley lifted their price target on FleetCor Technologies from $238.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research cut FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. ValuEngine cut FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Deutsche Bank reaffirmed a “buy” rating on shares of FleetCor Technologies in a report on Thursday, September 27th. Finally, Barclays started coverage on FleetCor Technologies in a report on Wednesday, November 14th. They issued an “overweight” rating and a $245.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. FleetCor Technologies has a consensus rating of “Buy” and an average price target of $235.90.
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FleetCor Technologies Profile
FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.
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