Tealwood Asset Management Inc. Has $1.86 Million Stake in FleetCor Technologies, Inc. (NYSE:FLT)

Tealwood Asset Management Inc. increased its stake in FleetCor Technologies, Inc. (NYSE:FLT) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,869 shares of the business services provider’s stock after buying an additional 115 shares during the period. Tealwood Asset Management Inc.’s holdings in FleetCor Technologies were worth $1,856,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of FleetCor Technologies by 2,721.2% in the first quarter. BlackRock Inc. now owns 5,251,662 shares of the business services provider’s stock worth $795,260,000 after buying an additional 5,065,513 shares during the last quarter. Egerton Capital UK LLP bought a new stake in FleetCor Technologies during the first quarter valued at about $155,014,000. FMR LLC increased its stake in FleetCor Technologies by 32.2% in the first quarter. FMR LLC now owns 2,645,484 shares of the business services provider’s stock valued at $400,606,000 after buying an additional 645,085 shares during the last quarter. Renaissance Technologies LLC bought a new stake in FleetCor Technologies during the first quarter valued at about $80,379,000. Finally, Morgan Stanley increased its stake in FleetCor Technologies by 522.4% in the first quarter. Morgan Stanley now owns 517,598 shares of the business services provider’s stock valued at $78,381,000 after buying an additional 434,443 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

FleetCor Technologies, Inc. (NYSE FLT) opened at 145.26 on Friday. The firm’s 50-day moving average price is $146.81 and its 200 day moving average price is $149.68. The firm has a market capitalization of $13.40 billion, a price-to-earnings ratio of 29.71 and a beta of 1.45. FleetCor Technologies, Inc. has a 1-year low of $121.52 and a 1-year high of $176.42.

FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported $1.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.83. FleetCor Technologies had a return on equity of 21.20% and a net margin of 23.28%. The company had revenue of $541.24 million for the quarter, compared to the consensus estimate of $528.33 million. During the same quarter in the previous year, the business earned $1.56 EPS. FleetCor Technologies’s revenue was up 29.5% compared to the same quarter last year. On average, analysts predict that FleetCor Technologies, Inc. will post $8.34 EPS for the current year.

FleetCor Technologies announced that its Board of Directors has approved a share repurchase program on Thursday, August 3rd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Several analysts have issued reports on the company. Citigroup Inc. restated a “buy” rating and set a $180.00 price objective (up previously from $165.00) on shares of FleetCor Technologies in a report on Thursday, July 13th. BidaskClub downgraded FleetCor Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $138.00 target price on shares of FleetCor Technologies in a report on Thursday, May 4th. Jefferies Group LLC reissued a “buy” rating and issued a $197.00 price target on shares of FleetCor Technologies in a research note on Wednesday, May 24th. Finally, Zacks Investment Research raised FleetCor Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. FleetCor Technologies presently has a consensus rating of “Buy” and a consensus target price of $178.07.

In other news, CEO Armando Lins Netto acquired 750 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were acquired at an average cost of $133.44 per share, with a total value of $100,080.00. Following the transaction, the chief executive officer now owns 4,710 shares in the company, valued at approximately $628,502.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexey Gavrilenya acquired 5,000 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were purchased at an average cost of $138.50 per share, for a total transaction of $692,500.00. Following the completion of the transaction, the insider now owns 5,000 shares in the company, valued at approximately $692,500. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 7,750 shares of company stock worth $1,061,440. 4.30% of the stock is owned by company insiders.

About FleetCor Technologies

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.