Louisiana State Employees Retirement System lessened its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,300 shares of the business services provider’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in FleetCor Technologies were worth $1,256,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Advisor Group Inc. boosted its stake in shares of FleetCor Technologies by 0.7% in the first quarter. Advisor Group Inc. now owns 5,714 shares of the business services provider’s stock valued at $1,409,000 after buying an additional 38 shares during the period. Meridian Management Co. raised its position in FleetCor Technologies by 0.5% during the first quarter. Meridian Management Co. now owns 8,050 shares of the business services provider’s stock valued at $1,985,000 after purchasing an additional 44 shares in the last quarter. Creative Planning increased its holdings in shares of FleetCor Technologies by 0.4% during the first quarter. Creative Planning now owns 10,949 shares of the business services provider’s stock worth $2,700,000 after buying an additional 46 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of FleetCor Technologies by 0.6% during the first quarter. CIBC Asset Management Inc now owns 7,957 shares of the business services provider’s stock worth $1,962,000 after buying an additional 46 shares in the last quarter. Finally, Norinchukin Bank The increased its holdings in shares of FleetCor Technologies by 0.4% during the first quarter. Norinchukin Bank The now owns 16,296 shares of the business services provider’s stock worth $4,018,000 after buying an additional 59 shares in the last quarter. Institutional investors own 94.71% of the company’s stock.
Several brokerages have recently issued reports on FLT. Morgan Stanley downgraded shares of FleetCor Technologies from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $240.00 to $284.00 in a report on Thursday, July 11th. Robert W. Baird assumed coverage on FleetCor Technologies in a report on Wednesday, July 24th. They issued a “neutral” rating and a $302.00 price objective for the company. Mizuho increased their price objective on FleetCor Technologies from $245.00 to $247.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Jefferies Financial Group set a $250.00 price target on shares of FleetCor Technologies and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Finally, BTIG Research reaffirmed a “buy” rating and set a $340.00 price target on shares of FleetCor Technologies in a research report on Monday, July 8th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $269.27.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $2.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.05. The company had revenue of $647.09 million for the quarter, compared to analysts’ expectations of $633.95 million. FleetCor Technologies had a net margin of 35.29% and a return on equity of 26.37%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 EPS. On average, analysts anticipate that FleetCor Technologies, Inc. will post 11.15 earnings per share for the current fiscal year.
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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