M&T Bank Corp Acquires 1,574 Shares of FleetCor Technologies, Inc. (NYSE:FLT)

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M&T Bank Corp increased its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,357 shares of the business services provider’s stock after acquiring an additional 1,574 shares during the quarter. M&T Bank Corp’s holdings in FleetCor Technologies were worth $8,642,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in FLT. AXA grew its position in FleetCor Technologies by 8.6% in the 1st quarter. AXA now owns 32,195 shares of the business services provider’s stock worth $6,005,000 after purchasing an additional 2,550 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of FleetCor Technologies by 4.8% in the first quarter. State of Alaska Department of Revenue now owns 14,953 shares of the business services provider’s stock valued at $2,789,000 after buying an additional 684 shares during the period. WINTON GROUP Ltd grew its position in FleetCor Technologies by 293.7% during the first quarter. WINTON GROUP Ltd now owns 5,721 shares of the business services provider’s stock worth $1,067,000 after buying an additional 4,268 shares in the last quarter. Morgan Stanley increased its stake in FleetCor Technologies by 63.7% during the first quarter. Morgan Stanley now owns 238,291 shares of the business services provider’s stock valued at $44,450,000 after acquiring an additional 92,749 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in FleetCor Technologies in the 4th quarter valued at approximately $2,064,000. Hedge funds and other institutional investors own 91.36% of the company’s stock.

A number of research analysts recently commented on the company. Oppenheimer began coverage on FleetCor Technologies in a research note on Thursday, May 7th. They issued a “buy” rating and a $335.00 target price for the company. BTIG Research reiterated a “buy” rating and set a $290.00 target price (down from $340.00) on shares of FleetCor Technologies in a research report on Thursday, May 7th. Zacks Investment Research raised shares of FleetCor Technologies from a “sell” rating to a “hold” rating and set a $264.00 target price on the stock in a research note on Friday, May 8th. Cowen raised their price target on shares of FleetCor Technologies from $240.00 to $258.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Barclays upped their price objective on FleetCor Technologies from $291.00 to $315.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. FleetCor Technologies currently has an average rating of “Hold” and a consensus price target of $286.47.

In other FleetCor Technologies news, insider Alexey Gavrilenya sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $279.91, for a total value of $1,399,550.00. Following the transaction, the insider now directly owns 7,661 shares of the company’s stock, valued at $2,144,390.51. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.70% of the company’s stock.

Shares of FLT stock opened at $258.57 on Friday. FleetCor Technologies, Inc. has a 1 year low of $168.51 and a 1 year high of $329.85. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.16. The firm’s 50 day moving average is $255.82 and its 200-day moving average is $255.63. The firm has a market capitalization of $22.09 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.06 and a beta of 1.49.

FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings data on Thursday, May 7th. The business services provider reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.17. FleetCor Technologies had a net margin of 32.37% and a return on equity of 29.18%. The firm had revenue of $661.09 million during the quarter, compared to analysts’ expectations of $636.20 million. During the same quarter in the previous year, the company posted $2.67 EPS. FleetCor Technologies’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that FleetCor Technologies, Inc. will post 10.19 earnings per share for the current fiscal year.

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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