FleetCor Technologies, Inc. (FLT) Shares Bought by Amalgamated Bank
Amalgamated Bank boosted its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 72.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,434 shares of the business services provider’s stock after purchasing an additional 3,953 shares during the period. Amalgamated Bank’s holdings in FleetCor Technologies were worth $1,360,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Nicholas Company Inc. lifted its position in FleetCor Technologies by 25.2% during the second quarter. Nicholas Company Inc. now owns 100,725 shares of the business services provider’s stock valued at $14,525,000 after purchasing an additional 20,290 shares during the period. King Luther Capital Management Corp lifted its position in FleetCor Technologies by 73.2% during the second quarter. King Luther Capital Management Corp now owns 72,878 shares of the business services provider’s stock valued at $10,510,000 after purchasing an additional 30,791 shares during the period. Ameriprise Financial Inc. lifted its position in FleetCor Technologies by 132.0% during the second quarter. Ameriprise Financial Inc. now owns 1,296,851 shares of the business services provider’s stock valued at $187,025,000 after purchasing an additional 737,854 shares during the period. TIAA CREF Investment Management LLC lifted its position in FleetCor Technologies by 1.8% during the second quarter. TIAA CREF Investment Management LLC now owns 733,165 shares of the business services provider’s stock valued at $105,730,000 after purchasing an additional 12,717 shares during the period. Finally, Teachers Advisors LLC lifted its position in FleetCor Technologies by 14.2% during the second quarter. Teachers Advisors LLC now owns 170,488 shares of the business services provider’s stock valued at $24,586,000 after purchasing an additional 21,189 shares during the period. Institutional investors own 97.57% of the company’s stock.
In other FleetCor Technologies news, CEO Andrew Blazye sold 2,442 shares of FleetCor Technologies stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $144.00, for a total transaction of $351,648.00. Following the completion of the sale, the chief executive officer now directly owns 24,766 shares in the company, valued at approximately $3,566,304. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 15,758 shares of company stock valued at $2,274,115. Company insiders own 4.30% of the company’s stock.
A number of brokerages recently weighed in on FLT. BidaskClub downgraded shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Keefe, Bruyette & Woods set a $202.00 price objective on shares of FleetCor Technologies and gave the company a “buy” rating in a research report on Monday, August 7th. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Tuesday, August 8th. Jefferies Group LLC restated a “buy” rating and set a $197.00 price objective on shares of FleetCor Technologies in a research report on Saturday, September 16th. Finally, 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 research report on Thursday, July 13th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $179.67.
Shares of FleetCor Technologies, Inc. (FLT) opened at 153.67 on Friday. The firm’s 50-day moving average is $144.30 and its 200-day moving average is $146.29. The stock has a market capitalization of $14.12 billion, a PE ratio of 30.38 and a beta of 1.43. FleetCor Technologies, Inc. has a one year low of $121.52 and a one year high of $176.42.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings data on Thursday, August 3rd. The business services provider reported $1.83 EPS for the quarter, meeting the consensus estimate of $1.83. FleetCor Technologies had a net margin of 23.28% and a return on equity of 20.87%. The business had revenue of $541.24 million during the quarter, compared to analysts’ expectations of $528.33 million. During the same period in the previous year, the business posted $1.56 EPS. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. On average, analysts expect that FleetCor Technologies, Inc. will post $8.37 earnings per share for the current fiscal year.
FleetCor Technologies announced that its Board of Directors has approved a stock repurchase plan on Thursday, August 3rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the business services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
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FleetCor Technologies 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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