Sunbelt Securities Inc. Makes New Investment in FleetCor Technologies, Inc. (NYSE:FLT)

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Sunbelt Securities Inc. purchased a new position in shares of FleetCor Technologies, Inc. (NYSE:FLT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 826 shares of the business services provider’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of FleetCor Technologies by 13.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 479,476 shares of the business services provider’s stock valued at $89,046,000 after purchasing an additional 56,571 shares during the period. Geode Capital Management LLC grew its holdings in shares of FleetCor Technologies by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 1,099,152 shares of the business services provider’s stock valued at $203,758,000 after purchasing an additional 58,255 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of FleetCor Technologies by 51.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,180 shares of the business services provider’s stock valued at $291,000 after purchasing an additional 400 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of FleetCor Technologies during the 1st quarter valued at $247,000. Finally, IFM Investors Pty Ltd grew its holdings in shares of FleetCor Technologies by 12.8% during the 1st quarter. IFM Investors Pty Ltd now owns 5,858 shares of the business services provider’s stock valued at $1,445,000 after purchasing an additional 665 shares during the last quarter. 94.71% of the stock is owned by institutional investors.

FLT traded up $1.48 on Thursday, hitting $287.25. 6,409 shares of the company’s stock were exchanged, compared to its average volume of 540,024. FleetCor Technologies, Inc. has a fifty-two week low of $172.18 and a fifty-two week high of $297.13. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.91 and a current ratio of 0.92. The firm’s 50-day simple moving average is $287.51. The company has a market capitalization of $25.01 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16.

FleetCor Technologies (NYSE:FLT) last announced its earnings results on Tuesday, August 6th. The business services provider reported $2.69 EPS for the quarter, beating the consensus estimate of $2.64 by $0.05. FleetCor Technologies had a return on equity of 26.37% and a net margin of 35.29%. The business had revenue of $647.09 million for the quarter, compared to the consensus estimate of $633.95 million. During the same period last year, the business posted $2.57 EPS. The company’s revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts forecast that FleetCor Technologies, Inc. will post 11.15 EPS for the current fiscal year.

A number of equities research analysts have issued reports on the stock. Mizuho raised their price target on shares of FleetCor Technologies from $245.00 to $247.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. SunTrust Banks raised their price target on shares of FleetCor Technologies to $320.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Robert W. Baird started coverage on shares of FleetCor Technologies in a report on Wednesday, July 24th. They issued a “neutral” rating and a $302.00 price target on the stock. Bank of America started coverage on shares of FleetCor Technologies in a research note on Monday, June 3rd. They set a “neutral” rating and a $275.00 target price on the stock. Finally, BTIG Research reaffirmed a “buy” rating and set a $340.00 target price on shares of FleetCor Technologies in a research note on Monday, July 8th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $269.27.

FleetCor Technologies Company 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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Institutional Ownership by Quarter for FleetCor Technologies (NYSE:FLT)

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