Advisory Research Inc. Boosts Stake in FleetCor Technologies, Inc. (FLT)

Advisory Research Inc. lifted its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 41.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,113 shares of the business services provider’s stock after acquiring an additional 905 shares during the quarter. Advisory Research Inc.’s holdings in FleetCor Technologies were worth $709,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Korea Investment CORP grew its stake in shares of FleetCor Technologies by 23.7% during the 2nd quarter. Korea Investment CORP now owns 30,292 shares of the business services provider’s stock worth $6,381,000 after acquiring an additional 5,800 shares during the period. Strs Ohio grew its stake in shares of FleetCor Technologies by 229.9% during the 3rd quarter. Strs Ohio now owns 8,649 shares of the business services provider’s stock worth $1,970,000 after acquiring an additional 6,027 shares during the period. Bank of Nova Scotia bought a new position in shares of FleetCor Technologies during the 2nd quarter worth $2,065,000. Victory Capital Management Inc. grew its stake in shares of FleetCor Technologies by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 201,805 shares of the business services provider’s stock worth $45,979,000 after acquiring an additional 3,774 shares during the period. Finally, MetLife Investment Advisors LLC bought a new position in shares of FleetCor Technologies during the 2nd quarter worth $5,558,000. Institutional investors own 98.30% of the company’s stock.

Shares of NYSE FLT opened at $193.40 on Monday. FleetCor Technologies, Inc. has a 52 week low of $177.71 and a 52 week high of $230.24. 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 stock has a market capitalization of $23.76 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 1.19 and a beta of 1.51.

FleetCor Technologies (NYSE:FLT) last issued its earnings results on Tuesday, October 30th. The business services provider reported $2.68 EPS for the quarter, topping the consensus estimate of $2.66 by $0.02. FleetCor Technologies had a return on equity of 24.22% and a net margin of 33.01%. The business had revenue of $619.60 million during the quarter, compared to the consensus estimate of $609.75 million. During the same quarter last year, the company earned $2.18 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that FleetCor Technologies, Inc. will post 9.85 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on the company. Deutsche Bank reiterated a “buy” rating on shares of FleetCor Technologies in a research note on Thursday, September 27th. Zacks Investment Research downgraded FleetCor Technologies from a “buy” rating to a “sell” rating in a research note on Wednesday, October 3rd. ValuEngine downgraded FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, Barclays assumed coverage on FleetCor Technologies in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $245.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $235.90.

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FleetCor Technologies 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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Institutional Ownership by Quarter for FleetCor Technologies (NYSE:FLT)

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