FleetCor Technologies, Inc. (FLT) Shares Bought by Federated Investors Inc. PA
Federated Investors Inc. PA grew its holdings in FleetCor Technologies, Inc. (NYSE:FLT) by 19,028.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,339 shares of the business services provider’s stock after purchasing an additional 1,332 shares during the quarter. Federated Investors Inc. PA’s holdings in FleetCor Technologies were worth $282,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in shares of FleetCor Technologies in the second quarter valued at about $150,000. NuWave Investment Management LLC acquired a new stake in shares of FleetCor Technologies in the second quarter valued at about $180,000. Peregrine Capital Management LLC acquired a new stake in shares of FleetCor Technologies in the second quarter valued at about $190,000. Engineers Gate Manager LP acquired a new stake in shares of FleetCor Technologies in the second quarter valued at about $200,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of FleetCor Technologies in the second quarter valued at about $214,000. 98.12% of the stock is currently owned by institutional investors.
FLT has been the topic of several research analyst reports. Zacks Investment Research downgraded FleetCor Technologies from a “buy” rating to a “sell” rating in a research report on Tuesday, July 10th. Citigroup raised their price target on FleetCor Technologies from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Wolfe Research initiated coverage on FleetCor Technologies in a research report on Tuesday, July 17th. They issued an “outperform” rating on the stock. Finally, Morgan Stanley raised their price target on FleetCor Technologies from $238.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. FleetCor Technologies has a consensus rating of “Buy” and a consensus price target of $233.30.
FleetCor Technologies (NYSE:FLT) last released its earnings results on Thursday, August 2nd. The business services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. FleetCor Technologies had a return on equity of 23.23% and a net margin of 35.50%. The business had revenue of $585.00 million for the quarter, compared to the consensus estimate of $596.27 million. During the same period last year, the business earned $1.99 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. sell-side analysts predict that FleetCor Technologies, Inc. will post 9.84 earnings per share for the current fiscal year.
FleetCor Technologies Profile
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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