Standard Life Investments LTD Sells 10,655 Shares of FleetCor Technologies Inc. (FLT)
Standard Life Investments LTD decreased its position in shares of FleetCor Technologies Inc. (NYSE:FLT) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,799,159 shares of the company’s stock after selling 10,655 shares during the period. Standard Life Investments LTD owned 1.94% of FleetCor Technologies worth $257,505,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of FLT. Soroban Capital Partners LP increased its stake in shares of FleetCor Technologies by 18.5% in the first quarter. Soroban Capital Partners LP now owns 995,000 shares of the company’s stock worth $148,006,000 after buying an additional 155,000 shares during the last quarter. Southpoint Capital Advisors LP bought a new stake in shares of FleetCor Technologies during the first quarter worth $70,656,000. Hillman Co. increased its stake in shares of FleetCor Technologies by 34.9% in the second quarter. Hillman Co. now owns 239,144 shares of the company’s stock worth $34,229,000 after buying an additional 61,850 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of FleetCor Technologies by 4.8% in the first quarter. Geode Capital Management LLC now owns 459,691 shares of the company’s stock worth $68,338,000 after buying an additional 21,234 shares during the last quarter. Finally, Pennant Capital Management LLC increased its stake in shares of FleetCor Technologies by 21.4% in the first quarter. Pennant Capital Management LLC now owns 852,500 shares of the company’s stock worth $126,809,000 after buying an additional 150,100 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.
Shares of FleetCor Technologies Inc. (NYSE:FLT) traded down 0.59% on Monday, reaching $172.71. The company had a trading volume of 597,946 shares. FleetCor Technologies Inc. has a 52 week low of $107.56 and a 52 week high of $174.84. The company’s 50-day moving average price is $167.54 and its 200 day moving average price is $153.74. The firm has a market capitalization of $15.99 billion, a P/E ratio of 41.41 and a beta of 1.24.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.02. FleetCor Technologies had a return on equity of 18.16% and a net margin of 22.97%. The business had revenue of $417.90 million for the quarter, compared to the consensus estimate of $415.20 million. During the same quarter in the prior year, the business posted $1.48 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts expect that FleetCor Technologies Inc. will post $6.86 EPS for the current year.
A number of equities research analysts recently weighed in on FLT shares. Jefferies Group reaffirmed a “buy” rating and set a $186.00 price objective on shares of FleetCor Technologies in a research report on Thursday. SunTrust Banks Inc. started coverage on FleetCor Technologies in a research report on Friday, June 24th. They set a “buy” rating and a $175.00 price objective on the stock. Oppenheimer Holdings Inc. raised FleetCor Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a research report on Friday, August 5th. Barclays PLC raised their price target on FleetCor Technologies from $170.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, September 21st. Finally, JPMorgan Chase & Co. raised their price target on FleetCor Technologies from $159.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $169.25.
In related news, Director Joseph W. Farrelly sold 1,200 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $168.73, for a total value of $202,476.00. Following the completion of the sale, the director now directly owns 3,224 shares of the company’s stock, valued at approximately $543,985.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Todd House sold 4,327 shares of the company’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $150.00, for a total value of $649,050.00. Following the completion of the sale, the insider now directly owns 11,637 shares of the company’s stock, valued at $1,745,550. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.
FleetCor Technologies Company Profile
FleetCor Technologies, Inc is an independent global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand.
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