FleetCor Technologies, Inc. (FLT) Holdings Cut by Rhumbline Advisers
Rhumbline Advisers lessened its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 152,518 shares of the business services provider’s stock after selling 1,224 shares during the period. Rhumbline Advisers’ holdings in FleetCor Technologies were worth $34,750,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Korea Investment CORP grew its stake in FleetCor Technologies by 23.7% during the 2nd quarter. Korea Investment CORP now owns 30,292 shares of the business services provider’s stock valued at $6,381,000 after acquiring an additional 5,800 shares in the last quarter. Bank of Nova Scotia purchased a new position in FleetCor Technologies during the 2nd quarter valued at about $2,065,000. MetLife Investment Advisors LLC purchased a new position in FleetCor Technologies during the 2nd quarter valued at about $5,558,000. Strs Ohio grew its stake in FleetCor Technologies by 229.9% during the 3rd quarter. Strs Ohio now owns 8,649 shares of the business services provider’s stock valued at $1,970,000 after acquiring an additional 6,027 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in FleetCor Technologies by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 377,429 shares of the business services provider’s stock valued at $79,505,000 after acquiring an additional 7,303 shares in the last quarter. Hedge funds and other institutional investors own 98.30% of the company’s stock.
Several equities analysts have weighed in on the company. Zacks Investment Research raised FleetCor Technologies from a “sell” rating to a “buy” rating and set a $230.00 target price on the stock in a research note on Thursday, October 11th. Barclays assumed coverage on FleetCor Technologies in a research note on Wednesday, November 14th. They set an “overweight” rating and a $245.00 target price on the stock. Morgan Stanley lifted their target price on FleetCor Technologies from $238.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Deutsche Bank reaffirmed a “buy” rating on shares of FleetCor Technologies in a research note on Thursday, September 27th. Finally, ValuEngine cut FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $235.90.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings results on Tuesday, October 30th. The business services provider reported $2.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.02. The business had revenue of $619.60 million during the quarter, compared to analysts’ expectations of $609.75 million. FleetCor Technologies had a return on equity of 24.22% and a net margin of 33.01%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 EPS. As a group, equities analysts forecast that FleetCor Technologies, Inc. will post 9.85 earnings per share for the current year.
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About FleetCor Technologies
FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.
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