Honeywell International Inc. Has $8.57 Million Position in FleetCor Technologies, Inc. (NYSE:FLT)
Honeywell International Inc. lowered its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 50.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,400 shares of the business services provider’s stock after selling 59,800 shares during the period. Honeywell International Inc. owned 0.06% of FleetCor Technologies worth $8,566,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of FleetCor Technologies during the first quarter valued at $104,000. Ropes Wealth Advisors LLC increased 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 valued at $113,000 after buying an additional 395 shares during the period. Toronto Dominion Bank increased 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 valued at $154,000 after buying an additional 213 shares during the period. Tower Research Capital LLC TRC increased 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 valued at $160,000 after buying an additional 12 shares during the period. Finally, Fulton Bank N.A. increased 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 valued at $206,000 after buying an additional 105 shares during the period. 93.82% of the stock is owned by institutional investors.
Shares of FleetCor Technologies, Inc. (NYSE FLT) opened at 142.46 on Tuesday. The company has a market cap of $13.14 billion, a P/E ratio of 29.14 and a beta of 1.45. FleetCor Technologies, Inc. has a 52-week low of $121.52 and a 52-week high of $176.42. The firm has a 50-day moving average of $146.81 and a 200-day moving average of $149.68.
FleetCor Technologies (NYSE:FLT) last posted 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 business had revenue of $541.24 million during the quarter, compared to analysts’ expectations of $528.33 million. FleetCor Technologies had a net margin of 23.28% and a return on equity of 21.20%. The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the company posted $1.56 earnings per share. Equities research analysts forecast that FleetCor Technologies, Inc. will post $8.34 earnings per share for the current year.
FleetCor Technologies announced that its board has authorized a share buyback program on Thursday, August 3rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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Several equities research analysts recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of FleetCor Technologies in a research report on Wednesday, July 12th. J P Morgan Chase & Co reissued an “overweight” rating and set a $138.00 price target on shares of FleetCor Technologies in a research report on Thursday, May 4th. Citigroup Inc. reissued a “buy” rating and set a $180.00 price target (up previously from $165.00) on shares of FleetCor Technologies in a research report on Thursday, July 13th. BidaskClub downgraded shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Zacks Investment Research raised shares of FleetCor Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. FleetCor Technologies presently has an average rating of “Buy” and a consensus price target of $181.29.
In related news, insider Alexey Gavrilenya purchased 5,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was acquired at an average price of $138.50 per share, with a total value of $692,500.00. Following the completion of the acquisition, the insider now owns 5,000 shares in the company, valued at approximately $692,500. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.60% of the company’s stock.
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.
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