Alphinity Investment Management Pty Ltd purchased a new position in Fleetcor (NYSE:FLT) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 77,261 shares of the business services provider’s stock, valued at approximately $15,645,000. Fleetcor accounts for about 3.5% of Alphinity Investment Management Pty Ltd’s portfolio, making the stock its 16th largest holding.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLT. Captrust Financial Advisors acquired a new stake in shares of Fleetcor in the 4th quarter worth approximately $156,000. First Personal Financial Services grew its holdings in shares of Fleetcor by 31.4% in the 4th quarter. First Personal Financial Services now owns 1,020 shares of the business services provider’s stock worth $196,000 after acquiring an additional 244 shares during the period. Miles Capital Inc. acquired a new stake in shares of Fleetcor in the 1st quarter worth approximately $201,000. Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Fleetcor in the 4th quarter worth approximately $207,000. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of Fleetcor in the 4th quarter worth approximately $211,000. Institutional investors and hedge funds own 94.26% of the company’s stock.
FLT has been the topic of a number of research reports. Credit Suisse Group upped their price target on Fleetcor from $209.00 to $211.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Zacks Investment Research upgraded Fleetcor from a “sell” rating to a “buy” rating and set a $224.00 price target on the stock in a report on Wednesday, April 11th. ValuEngine upgraded Fleetcor from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Morgan Stanley set a $238.00 target price on Fleetcor and gave the company a “buy” rating in a report on Friday, May 4th. Finally, Oppenheimer increased their target price on Fleetcor from $194.00 to $247.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $222.09.
Shares of NYSE:FLT opened at $204.47 on Monday. The firm has a market cap of $18.33 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 1.27 and a beta of 1.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91. Fleetcor has a one year low of $133.87 and a one year high of $213.74.
Fleetcor (NYSE:FLT) last announced its earnings results on Thursday, May 3rd. The business services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.13. Fleetcor had a return on equity of 21.87% and a net margin of 34.19%. The firm had revenue of $585.50 million for the quarter, compared to analysts’ expectations of $602.46 million. During the same quarter in the prior year, the firm earned $1.96 EPS. Fleetcor’s quarterly revenue was up 12.5% on a year-over-year basis. equities research analysts forecast that Fleetcor will post 9.78 earnings per share for the current year.
Fleetcor 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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