UBS Asset Management Americas Inc. Boosts Holdings in FleetCor Technologies, Inc. (FLT)
UBS Asset Management Americas Inc. boosted its stake in FleetCor Technologies, Inc. (NYSE:FLT) by 29.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 923,294 shares of the business services provider’s stock after purchasing an additional 210,308 shares during the quarter. UBS Asset Management Americas Inc. owned about 1.00% of FleetCor Technologies worth $133,148,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of FLT. BlackRock Inc. grew its holdings in 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 purchasing an additional 5,065,513 shares during the period. Ameriprise Financial Inc. grew its holdings in FleetCor Technologies by 132.0% in the second quarter. Ameriprise Financial Inc. now owns 1,296,851 shares of the business services provider’s stock worth $187,025,000 after purchasing an additional 737,854 shares during the period. FMR LLC grew its holdings 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 worth $400,606,000 after purchasing an additional 645,085 shares during the period. Renaissance Technologies LLC acquired a new stake in FleetCor Technologies in the first quarter worth $80,379,000. Finally, Morgan Stanley grew its holdings in FleetCor Technologies by 522.4% in the first quarter. Morgan Stanley now owns 517,598 shares of the business services provider’s stock worth $78,381,000 after purchasing an additional 434,443 shares during the period. Institutional investors and hedge funds own 97.57% of the company’s stock.
Shares of FleetCor Technologies, Inc. (FLT) traded down 0.45% during mid-day trading on Wednesday, reaching $152.57. 79,253 shares of the company’s stock traded hands. The stock has a market cap of $14.02 billion, a price-to-earnings ratio of 30.16 and a beta of 1.43. The firm’s 50 day moving average price is $144.30 and its 200-day moving average price is $146.29. FleetCor Technologies, Inc. has a 12-month low of $121.52 and a 12-month 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. The firm had revenue of $541.24 million for the quarter, compared to the consensus estimate of $528.33 million. FleetCor Technologies had a net margin of 23.28% and a return on equity of 20.87%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 EPS. Equities research analysts forecast that FleetCor Technologies, Inc. will post $8.37 earnings per share for the current year.
FleetCor Technologies announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 3rd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Andrew Blazye sold 8,353 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $144.00, for a total transaction of $1,202,832.00. Following the sale, the chief executive officer now owns 24,766 shares of the company’s stock, valued at approximately $3,566,304. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 15,758 shares of company stock worth $2,274,115. Insiders own 4.60% of the company’s stock.
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A number of research firms have commented on FLT. Jefferies Group LLC restated a “buy” rating and issued a $197.00 price target on shares of FleetCor Technologies in a report on Saturday. Credit Suisse Group restated an “outperform” rating on shares of FleetCor Technologies in a report on Tuesday, September 5th. BidaskClub upgraded shares of FleetCor Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Zacks Investment Research cut shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Keefe, Bruyette & Woods set a $202.00 price target on shares of FleetCor Technologies and gave the stock a “buy” rating in a report on Monday, August 7th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $180.46.
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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