Candriam Luxembourg S.C.A. Has $787,000 Stake in FleetCor Technologies, Inc. (NYSE:FLT)

Candriam Luxembourg S.C.A. decreased its position in FleetCor Technologies, Inc. (NYSE:FLT) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,454 shares of the business services provider’s stock after selling 120 shares during the period. Candriam Luxembourg S.C.A.’s holdings in FleetCor Technologies were worth $787,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of FLT. State of Alaska Department of Revenue bought a new stake in shares of FleetCor Technologies during the first quarter worth $104,000. Ropes Wealth Advisors LLC boosted its stake in shares of FleetCor Technologies by 112.9% in the first quarter. Ropes Wealth Advisors LLC now owns 745 shares of the business services provider’s stock worth $113,000 after buying an additional 395 shares during the period. Toronto Dominion Bank boosted its stake in shares of FleetCor Technologies by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,015 shares of the business services provider’s stock worth $154,000 after buying an additional 213 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of FleetCor Technologies by 1.1% in the first quarter. Tower Research Capital LLC TRC now owns 1,059 shares of the business services provider’s stock worth $160,000 after buying an additional 12 shares during the period. Finally, Fulton Bank N.A. boosted its stake 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 during the period. Hedge funds and other institutional investors own 94.53% of the company’s stock.

FleetCor Technologies, Inc. (FLT) opened at 141.78 on Tuesday. FleetCor Technologies, Inc. has a 12 month low of $121.52 and a 12 month high of $176.42. The company’s 50-day moving average price is $146.99 and its 200 day moving average price is $149.29. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 28.03 and a beta of 1.45.

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, hitting the Zacks’ consensus estimate of $1.83. The company had revenue of $541.24 million during the quarter, compared to the consensus estimate of $528.33 million. FleetCor Technologies had a return on equity of 20.87% and a net margin of 23.28%. FleetCor Technologies’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.56 EPS. Analysts predict that FleetCor Technologies, Inc. will post $8.37 EPS for the current year.

FleetCor Technologies announced that its board has authorized a stock buyback plan on Thursday, August 3rd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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A number of brokerages recently weighed in on FLT. William Blair restated an “outperform” rating on shares of FleetCor Technologies in a research note on Wednesday, July 12th. Zacks Investment Research cut FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co restated an “overweight” rating and set a $138.00 price objective on shares of FleetCor Technologies in a research note on Thursday, May 4th. Citigroup Inc. restated a “buy” rating and set a $180.00 price objective (up from $165.00) on shares of FleetCor Technologies in a research note on Thursday, July 13th. Finally, BidaskClub cut FleetCor Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $180.86.

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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