KBC Group NV Has $1.52 Million Stake in FleetCor Technologies, Inc. (FLT)
KBC Group NV cut its stake in FleetCor Technologies, Inc. (NYSE:FLT) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,520 shares of the business services provider’s stock after selling 79 shares during the period. KBC Group NV’s holdings in FleetCor Technologies were worth $1,517,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capstone Asset Management Co. increased its position in FleetCor Technologies by 20.9% in the first quarter. Capstone Asset Management Co. now owns 2,428 shares of the business services provider’s stock valued at $368,000 after buying an additional 420 shares in the last quarter. State of Alaska Department of Revenue bought a new position in FleetCor Technologies during the first quarter valued at approximately $104,000. Candriam Luxembourg S.C.A. increased its position 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 valued at $844,000 after buying an additional 1,582 shares in the last quarter. Korea Investment CORP increased its position 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 valued at $1,099,000 after buying an additional 7,146 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD increased its position in FleetCor Technologies by 7.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,864 shares of the business services provider’s stock valued at $1,039,000 after buying an additional 464 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.
Shares of FleetCor Technologies, Inc. (FLT) opened at 143.17 on Thursday. FleetCor Technologies, Inc. has a 52-week low of $121.52 and a 52-week high of $176.42. The company has a market capitalization of $13.15 billion, a PE ratio of 28.31 and a beta of 1.45. The firm’s 50-day moving average price is $146.38 and its 200 day moving average price is $148.93.
FleetCor Technologies (NYSE:FLT) last announced its earnings results on Thursday, August 3rd. The business services provider reported $1.83 earnings per share 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 firm had revenue of $541.24 million for the quarter, compared to the consensus estimate of $528.33 million. During the same period in the prior year, the firm earned $1.56 EPS. The firm’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, equities analysts forecast that FleetCor Technologies, Inc. will post $8.37 earnings per share for the current year.
FleetCor Technologies declared that its board has approved a stock repurchase program on Thursday, August 3rd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the business services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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Several research analysts have recently commented on FLT shares. Compass Point upgraded FleetCor Technologies from a “neutral” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Wednesday, May 3rd. SunTrust Banks, Inc. reiterated a “buy” rating on shares of FleetCor Technologies in a report on Wednesday, May 3rd. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $138.00 price objective on shares of FleetCor Technologies in a report on Thursday, May 4th. Citigroup Inc. set a $165.00 price objective on FleetCor Technologies and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, Zacks Investment Research raised FleetCor Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, May 4th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $180.86.
In other FleetCor Technologies news, CEO Andrew Blazye sold 4,963 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $145.00, for a total transaction of $719,635.00. Following the completion of the transaction, the chief executive officer now owns 27,287 shares in the company, valued at approximately $3,956,615. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.30% of the stock is owned by corporate insiders.
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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