Natixis Purchases New Position in FleetCor Technologies, Inc. (NYSE:FLT)

Natixis acquired a new position in FleetCor Technologies, Inc. (NYSE:FLT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,626 shares of the business services provider’s stock, valued at approximately $6,635,000.

Other institutional investors have also bought and sold shares of the company. Highstreet Asset Management Inc. acquired a new position in FleetCor Technologies in the second quarter worth $786,000. BB&T Securities LLC boosted its stake in FleetCor Technologies by 34.7% in the second quarter. BB&T Securities LLC now owns 5,113 shares of the business services provider’s stock worth $1,435,000 after purchasing an additional 1,316 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in FleetCor Technologies by 38.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,073 shares of the business services provider’s stock worth $301,000 after purchasing an additional 300 shares in the last quarter. Strs Ohio boosted its stake in FleetCor Technologies by 118.9% in the second quarter. Strs Ohio now owns 2,515 shares of the business services provider’s stock worth $706,000 after purchasing an additional 1,366 shares in the last quarter. Finally, Advisor Partners LLC boosted its stake in FleetCor Technologies by 5.8% in the second quarter. Advisor Partners LLC now owns 878 shares of the business services provider’s stock worth $247,000 after purchasing an additional 48 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

FLT has been the topic of a number of recent analyst reports. Bank of America initiated coverage on FleetCor Technologies in a research note on Monday, June 3rd. They issued a “neutral” rating and a $275.00 price objective on the stock. Morgan Stanley lowered FleetCor Technologies from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $240.00 to $284.00 in a research note on Thursday, July 11th. Citigroup boosted their price objective on FleetCor Technologies from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Monday. Goldman Sachs Group raised FleetCor Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $243.00 to $305.00 in a research note on Wednesday, June 5th. Finally, BTIG Research restated a “buy” rating and set a $340.00 target price on shares of FleetCor Technologies in a research report on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $275.87.



Shares of FLT stock traded up $5.38 on Thursday, reaching $291.18. 19,086 shares of the stock were exchanged, compared to its average volume of 583,292. The stock has a market cap of $25.15 billion, a PE ratio of 29.31, a P/E/G ratio of 1.67 and a beta of 1.13. FleetCor Technologies, Inc. has a one year low of $172.18 and a one year high of $304.65. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a 50 day moving average price of $291.39 and a 200 day moving average price of $267.78.

FleetCor Technologies (NYSE:FLT) last released its earnings results on Tuesday, August 6th. The business services provider reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.05. The company had revenue of $647.09 million during the quarter, compared to the consensus estimate of $633.95 million. FleetCor Technologies had a return on equity of 26.37% and a net margin of 35.29%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.57 earnings per share. On average, research analysts expect 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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Institutional Ownership by Quarter for FleetCor Technologies (NYSE:FLT)

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