FleetCor Technologies, Inc. (FLT) Stake Boosted by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in FleetCor Technologies, Inc. (NYSE:FLT) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,902 shares of the company’s stock after purchasing an additional 842 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in FleetCor Technologies were worth $1,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its holdings in FleetCor Technologies by 0.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 137,637 shares of the company’s stock worth $21,302,000 after buying an additional 870 shares in the last quarter. Tocqueville Asset Management L.P. bought a new stake in FleetCor Technologies in the 3rd quarter worth about $3,314,000. Canada Pension Plan Investment Board increased its holdings in FleetCor Technologies by 1,777.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 25,013 shares of the company’s stock worth $3,871,000 after buying an additional 23,681 shares in the last quarter. New York State Teachers Retirement System increased its holdings in FleetCor Technologies by 92.7% in the 3rd quarter. New York State Teachers Retirement System now owns 7,900 shares of the company’s stock worth $1,223,000 after buying an additional 3,800 shares in the last quarter. Finally, K.J. Harrison & Partners Inc increased its holdings in FleetCor Technologies by 33.3% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 4,000 shares of the company’s stock worth $619,000 after buying an additional 1,000 shares in the last quarter.
Shares of FleetCor Technologies, Inc. (NYSE:FLT) opened at C$180.55 on Monday. The stock has a market capitalization of $16,170.20, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.32 and a beta of 1.50. FleetCor Technologies, Inc. has a 52 week low of C$121.52 and a 52 week high of C$183.61. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.84 and a current ratio of 0.84.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings data on Wednesday, November 1st. The company reported C$2.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$2.14 by C$0.04. The company had revenue of C$577.90 million during the quarter, compared to the consensus estimate of C$576.78 million. FleetCor Technologies had a return on equity of 20.99% and a net margin of 25.66%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 EPS. equities research analysts anticipate that FleetCor Technologies, Inc. will post 7.75 earnings per share for the current year.
FleetCor Technologies declared that its Board of Directors has initiated a share buyback plan on Thursday, August 3rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
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In related news, insider Kurt Patrick Adams sold 7,099 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of C$170.00, for a total transaction of C$1,206,830.00. Following the completion of the transaction, the insider now directly owns 9,246 shares in the company, valued at approximately C$1,571,820. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Blazye sold 8,353 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of C$144.00, for a total value of C$1,202,832.00. Following the transaction, the chief executive officer now owns 24,766 shares of the company’s stock, valued at C$3,566,304. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,857 shares of company stock valued at $3,480,945. 4.60% of the stock is currently owned by corporate insiders.
Several equities research analysts recently commented on FLT shares. Keefe, Bruyette & Woods set a $202.00 price objective on FleetCor Technologies and gave the stock a “buy” rating in a report on Monday, August 7th. Zacks Investment Research upgraded FleetCor Technologies from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Tuesday, August 8th. BidaskClub downgraded FleetCor Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Credit Suisse Group reiterated an “outperform” rating on shares of FleetCor Technologies in a report on Tuesday, September 5th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $197.00 price objective on shares of FleetCor Technologies in a report on Saturday, September 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. FleetCor Technologies currently has an average rating of “Buy” and a consensus target price of C$184.23.
FleetCor Technologies Profile
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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