Mackay Shields LLC decreased its holdings in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 28.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,155 shares of the business services provider’s stock after selling 5,916 shares during the period. Mackay Shields LLC’s holdings in FleetCor Technologies were worth $4,346,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Highstreet Asset Management Inc. acquired a new position in FleetCor Technologies during the 2nd quarter worth approximately $786,000. BB&T Securities LLC increased its position in FleetCor Technologies by 34.7% during the 2nd 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 during the period. Morgan Stanley grew its holdings in shares of FleetCor Technologies by 3.8% in the 2nd quarter. Morgan Stanley now owns 89,183 shares of the business services provider’s stock worth $25,047,000 after acquiring an additional 3,254 shares during the period. Impala Asset Management LLC acquired a new stake in shares of FleetCor Technologies in the 2nd quarter worth approximately $2,120,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of FleetCor Technologies by 38.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,073 shares of the business services provider’s stock worth $301,000 after acquiring an additional 300 shares during the period. Institutional investors own 93.87% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Robert W. Baird upped their price target on FleetCor Technologies from $302.00 to $316.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Barclays set a $340.00 price target on FleetCor Technologies and gave the stock a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price target on FleetCor Technologies from $341.00 to $344.00 and gave the stock an “overweight” rating in a report on Thursday. SunTrust Banks reiterated a “buy” rating and set a $345.00 target price (up previously from $320.00) on shares of FleetCor Technologies in a report on Thursday, October 10th. Finally, Raymond James began coverage on FleetCor Technologies in a report on Monday, September 30th. They set a “market perform” rating and a $314.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $286.22.
NYSE:FLT traded down $3.13 during trading hours on Friday, reaching $293.45. 473,911 shares of the company traded hands, compared to its average volume of 573,419. The firm’s 50-day moving average is $290.99 and its 200-day moving average is $282.14. The stock has a market cap of $25.25 billion, a P/E ratio of 29.55, a P/E/G ratio of 1.68 and a beta of 1.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.92 and a quick ratio of 0.92. FleetCor Technologies, Inc. has a 1-year low of $172.18 and a 1-year high of $304.65.
FleetCor Technologies (NYSE:FLT) last announced its earnings results on Wednesday, November 6th. The business services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.20. The firm had revenue of $681.00 million for the quarter, compared to analysts’ expectations of $679.68 million. FleetCor Technologies had a return on equity of 26.37% and a net margin of 35.29%. FleetCor Technologies’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.68 EPS. As a group, research analysts predict that FleetCor Technologies, Inc. will post 11.17 earnings per share for the current 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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