FleetCor Technologies, Inc. (NYSE:FLT) Stake Maintained by Cadinha & Co. LLC
Cadinha & Co. LLC continued to hold its position in FleetCor Technologies, Inc. (NYSE:FLT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,910 shares of the business services provider’s stock at the end of the second quarter. Cadinha & Co. LLC’s holdings in FleetCor Technologies were worth $420,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Korea Investment CORP raised its stake in FleetCor Technologies by 6,556.0% in the first quarter. Korea Investment CORP now owns 7,255 shares of the business services provider’s stock worth $1,099,000 after buying an additional 7,146 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in FleetCor Technologies by 4.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,475 shares of the business services provider’s stock worth $350,000 after buying an additional 103 shares in the last quarter. Nationwide Fund Advisors raised its stake in FleetCor Technologies by 5.6% in the first quarter. Nationwide Fund Advisors now owns 222,169 shares of the business services provider’s stock worth $33,643,000 after buying an additional 11,784 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in FleetCor Technologies by 39.6% in the first quarter. Candriam Luxembourg S.C.A. now owns 5,574 shares of the business services provider’s stock worth $844,000 after buying an additional 1,582 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in FleetCor Technologies during the first quarter worth $104,000. 93.82% of the stock is currently owned by institutional investors.
Shares of FleetCor Technologies, Inc. (NYSE FLT) opened at 140.23 on Thursday. FleetCor Technologies, Inc. has a 1-year low of $121.52 and a 1-year high of $176.42. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 28.68 and a beta of 1.45. The firm has a 50-day moving average of $147.15 and a 200 day moving average of $149.51.
FleetCor Technologies (NYSE:FLT) last announced its earnings results on Thursday, August 3rd. The business services provider reported $1.83 earnings per share (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 21.20%. The company had revenue of $541.24 million for the quarter, compared to analysts’ expectations of $528.33 million. During the same quarter in the previous year, the company posted $1.56 EPS. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. Equities research analysts forecast that FleetCor Technologies, Inc. will post $8.37 earnings per share for the current year.
FleetCor Technologies declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 3rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
A number of research firms recently weighed in on FLT. William Blair restated an “outperform” rating on shares of FleetCor Technologies in a report on Wednesday, July 12th. Zacks Investment Research lowered shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Wednesday. J P Morgan Chase & Co restated an “overweight” rating and issued a $138.00 target price on shares of FleetCor Technologies in a report on Thursday, May 4th. Citigroup Inc. restated a “buy” rating and issued a $180.00 target price (up previously from $165.00) on shares of FleetCor Technologies in a report on Thursday, July 13th. Finally, BidaskClub lowered shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $180.86.
FleetCor Technologies Company 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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