King Luther Capital Management Corp Trims Stake in Fleetcor (FLT)

King Luther Capital Management Corp reduced its position in Fleetcor (NYSE:FLT) by 12.2% in the 1st quarter, Holdings Channel reports. The firm owned 63,952 shares of the business services provider’s stock after selling 8,864 shares during the period. King Luther Capital Management Corp’s holdings in Fleetcor were worth $12,950,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Fleetcor by 42.2% in the 4th quarter. BlackRock Inc. now owns 6,119,055 shares of the business services provider’s stock valued at $1,177,491,000 after purchasing an additional 1,816,729 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Fleetcor by 16.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,689,805 shares of the business services provider’s stock valued at $342,185,000 after purchasing an additional 240,357 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in shares of Fleetcor by 13.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 834,770 shares of the business services provider’s stock valued at $160,635,000 after purchasing an additional 101,130 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Fleetcor in the 1st quarter valued at about $105,328,000. Finally, Montag & Caldwell LLC lifted its holdings in shares of Fleetcor by 62.2% in the 4th quarter. Montag & Caldwell LLC now owns 423,629 shares of the business services provider’s stock valued at $81,519,000 after purchasing an additional 162,464 shares during the last quarter. 94.26% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on FLT. ValuEngine raised Fleetcor from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Morgan Stanley reissued a “buy” rating and issued a $235.00 target price (up from $232.00) on shares of Fleetcor in a report on Wednesday, March 14th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $236.00 target price on shares of Fleetcor in a report on Thursday, February 8th. Credit Suisse Group boosted their target price on Fleetcor from $186.00 to $206.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Finally, Oppenheimer boosted 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 assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $222.09.

Shares of Fleetcor opened at $203.33 on Thursday, MarketBeat Ratings reports. The stock has a market capitalization of $18.12 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.25 and a beta of 1.46. Fleetcor has a 52-week low of $202.18 and a 52-week high of $202.92. 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 (NYSE:FLT) last issued its quarterly earnings results on Thursday, May 3rd. The business services provider reported $2.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.13. The firm had revenue of $585.50 million for the quarter, compared to analysts’ expectations of $602.46 million. Fleetcor had a return on equity of 21.87% and a net margin of 34.19%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.96 EPS. equities research analysts forecast that Fleetcor will post 9.78 EPS for the current fiscal year.

Fleetcor 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 (NYSE:FLT)

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