FleetCor Technologies, Inc. (FLT) Holdings Held by Princeton Portfolio Strategies Group LLC
Princeton Portfolio Strategies Group LLC continued to hold its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,000 shares of the business services provider’s stock at the close of the 2nd quarter. FleetCor Technologies makes up about 1.6% of Princeton Portfolio Strategies Group LLC’s holdings, making the stock its 17th biggest position. Princeton Portfolio Strategies Group LLC’s holdings in FleetCor Technologies were worth $5,768,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Commonwealth Bank of Australia grew its stake in FleetCor Technologies by 13.0% during the second quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock worth $105,000 after buying an additional 85 shares during the last quarter. First Personal Financial Services grew its stake in FleetCor Technologies by 49.9% during the second quarter. First Personal Financial Services now owns 790 shares of the business services provider’s stock worth $114,000 after buying an additional 263 shares during the last quarter. Fiduciary Trust Co. bought a new stake in FleetCor Technologies during the second quarter worth about $115,000. Tower Research Capital LLC TRC lifted its position in shares of FleetCor Technologies by 1.1% during the first quarter. Tower Research Capital LLC TRC now owns 1,059 shares of the business services provider’s stock worth $160,000 after purchasing an additional 12 shares in the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of FleetCor Technologies by 7.9% during the second quarter. Fulton Bank N.A. now owns 1,426 shares of the business services provider’s stock worth $206,000 after purchasing an additional 105 shares in the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FleetCor Technologies, Inc. (FLT) traded up 1.91% during trading on Friday, reaching $160.76. 656,681 shares of the company traded hands. The firm has a market capitalization of $14.77 billion, a price-to-earnings ratio of 31.78 and a beta of 1.44. FleetCor Technologies, Inc. has a 12-month low of $121.52 and a 12-month high of $176.42. The company has a 50 day moving average price of $148.14 and a 200 day moving average price of $145.91.
FleetCor Technologies (NYSE:FLT) last posted its earnings results on Thursday, August 3rd. The business services provider reported $1.83 EPS for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $528.33 million. During the same period last year, the company earned $1.56 EPS. The firm’s revenue was up 29.5% compared to the same quarter last year. On average, equities analysts predict that FleetCor Technologies, Inc. will post $8.38 EPS for the current year.
FleetCor Technologies announced that its board has approved a stock repurchase program on Thursday, August 3rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In related 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 sale, the chief executive officer now directly owns 24,766 shares in the company, valued at approximately $3,566,304. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 15,758 shares of company stock worth $2,274,115. 4.30% of the stock is owned by corporate insiders.
A number of brokerages have recently issued reports on FLT. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $185.00 target price on shares of FleetCor Technologies in a research report on Tuesday, September 26th. BidaskClub lowered shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Citigroup Inc. reiterated a “buy” rating and set a $180.00 target price (up from $165.00) on shares of FleetCor Technologies in a research report on Thursday, July 13th. William Blair reiterated an “outperform” rating on shares of FleetCor Technologies in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods set a $202.00 target price on shares of FleetCor Technologies and gave the stock a “buy” rating in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $179.67.
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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