Mn Services Vermogensbeheer B.V. boosted its position in FleetCor Technologies, Inc. (NYSE:FLT) by 503.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,935 shares of the business services provider’s stock after buying an additional 12,460 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in FleetCor Technologies were worth $2,154,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. National Pension Service increased its position in shares of FleetCor Technologies by 9.9% in the second quarter. National Pension Service now owns 93,190 shares of the business services provider’s stock worth $13,606,000 after buying an additional 8,394 shares in the last quarter. Gateway Investment Advisers LLC increased its position in shares of FleetCor Technologies by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 49,385 shares of the business services provider’s stock worth $7,122,000 after buying an additional 190 shares in the last quarter. Fulton Bank N.A. increased its position in shares of FleetCor Technologies by 7.9% in the second quarter. Fulton Bank N.A. now owns 1,426 shares of the business services provider’s stock worth $206,000 after buying an additional 105 shares in the last quarter. Alta Capital Management LLC increased its position in shares of FleetCor Technologies by 2.4% in the second quarter. Alta Capital Management LLC now owns 100,062 shares of the business services provider’s stock worth $14,429,000 after buying an additional 2,310 shares in the last quarter. Finally, First American Bank increased its position in shares of FleetCor Technologies by 13.2% in the second quarter. First American Bank now owns 1,720 shares of the business services provider’s stock worth $248,000 after buying an additional 200 shares in the last quarter. Institutional investors own 93.82% of the company’s stock.
FleetCor Technologies, Inc. (FLT) opened at 145.26 on Monday. FleetCor Technologies, Inc. has a one year low of $121.52 and a one year high of $176.42. The firm has a market capitalization of $13.40 billion, a PE ratio of 29.71 and a beta of 1.45. The stock has a 50 day moving average of $146.81 and a 200-day moving average of $149.68.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings data on Thursday, August 3rd. The business services provider reported $1.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.83. FleetCor Technologies had a return on equity of 21.20% and a net margin of 23.28%. The firm had revenue of $541.24 million for the quarter, compared to analysts’ expectations of $528.33 million. During the same period last year, the business posted $1.56 earnings per share. The firm’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, equities analysts predict that FleetCor Technologies, Inc. will post $8.34 EPS for the current year.
FleetCor Technologies announced that its Board of Directors has authorized a stock buyback 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 repurchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts recently issued reports on the stock. Citigroup Inc. reiterated a “buy” rating and issued a $180.00 price target (up previously from $165.00) on shares of FleetCor Technologies in a research note on Thursday, July 13th. William Blair reiterated an “outperform” rating on shares of FleetCor Technologies in a research note on Wednesday, July 12th. BidaskClub downgraded shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reiterated 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 upgraded shares of 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, one has assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. FleetCor Technologies has a consensus rating of “Buy” and an average target price of $180.07.
In other news, Director Jeffrey Steven Sloan acquired 2,000 shares of FleetCor Technologies stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average cost of $134.43 per share, for a total transaction of $268,860.00. Following the completion of the purchase, the director now directly owns 9,991 shares of the company’s stock, valued at approximately $1,343,090.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Armando Lins Netto acquired 750 shares of FleetCor Technologies stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average price of $133.44 per share, for a total transaction of $100,080.00. Following the completion of the purchase, the chief executive officer now directly owns 4,710 shares of the company’s stock, valued at $628,502.40. The disclosure for this purchase can be found here. Insiders have purchased 7,750 shares of company stock worth $1,061,440 over the last 90 days. 4.60% of the stock is currently owned by company insiders.
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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