AMP Capital Investors Ltd raised its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 14.4% in the third quarter, Holdings Channel reports. The fund owned 33,994 shares of the business services provider’s stock after purchasing an additional 4,287 shares during the period. AMP Capital Investors Ltd’s holdings in FleetCor Technologies were worth $7,732,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in FLT. Fort L.P. acquired a new stake in shares of FleetCor Technologies during the second quarter valued at about $122,000. Rational Advisors LLC increased its position in shares of FleetCor Technologies by 895.2% during the third quarter. Rational Advisors LLC now owns 617 shares of the business services provider’s stock valued at $140,000 after acquiring an additional 555 shares during the last quarter. Captrust Financial Advisors increased its position in shares of FleetCor Technologies by 262.0% during the second quarter. Captrust Financial Advisors now owns 782 shares of the business services provider’s stock valued at $165,000 after acquiring an additional 566 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of FleetCor Technologies during the second quarter valued at about $200,000. Finally, Dupont Capital Management Corp acquired a new stake in shares of FleetCor Technologies during the third quarter valued at about $205,000. Institutional investors and hedge funds own 68.73% of the company’s stock.
Shares of FLT stock opened at $188.96 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $23.33 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 1.17 and a beta of 1.49. FleetCor Technologies, Inc. has a fifty-two week low of $180.15 and a fifty-two week high of $230.24.
FLT has been the subject of a number of recent analyst reports. Barclays initiated coverage on shares of FleetCor Technologies in a research report on Wednesday, November 14th. They set an “overweight” rating and a $245.00 price target for the company. Deutsche Bank reiterated a “buy” rating on shares of FleetCor Technologies in a research report on Thursday, September 27th. Zacks Investment Research upgraded shares of FleetCor Technologies from a “sell” rating to a “buy” rating and set a $230.00 price target for the company in a research report on Thursday, October 11th. Finally, ValuEngine cut shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $237.11.
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FleetCor Technologies 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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