LS Investment Advisors LLC Decreases Position in FleetCor Technologies, Inc. (NYSE:FLT)

LS Investment Advisors LLC lowered its holdings in FleetCor Technologies, Inc. (NYSE:FLT) by 3.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,819 shares of the business services provider’s stock after selling 115 shares during the quarter. LS Investment Advisors LLC’s holdings in FleetCor Technologies were worth $695,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FLT. Sustainable Growth Advisers LP lifted its holdings in FleetCor Technologies by 1.3% during the 4th quarter. Sustainable Growth Advisers LP now owns 1,843,688 shares of the business services provider’s stock worth $342,409,000 after buying an additional 22,910 shares during the last quarter. Geode Capital Management LLC lifted its holdings in FleetCor Technologies by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 1,099,152 shares of the business services provider’s stock worth $203,758,000 after buying an additional 58,255 shares during the last quarter. Northern Trust Corp lifted its holdings in FleetCor Technologies by 5.2% during the 4th quarter. Northern Trust Corp now owns 961,363 shares of the business services provider’s stock worth $178,545,000 after buying an additional 47,704 shares during the last quarter. Norges Bank purchased a new stake in shares of FleetCor Technologies in the 4th quarter valued at about $146,695,000. Finally, Bank of America Corp DE lifted its holdings in shares of FleetCor Technologies by 2.5% in the 4th quarter. Bank of America Corp DE now owns 668,431 shares of the business services provider’s stock valued at $124,142,000 after purchasing an additional 16,394 shares during the last quarter. 94.65% of the stock is owned by institutional investors and hedge funds.

FLT has been the subject of several research reports. Mizuho reissued a “neutral” rating and issued a $230.00 target price on shares of FleetCor Technologies in a report on Wednesday, February 20th. Zacks Investment Research raised FleetCor Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. BTIG Research upped their price objective on FleetCor Technologies from $253.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Oppenheimer upped their price objective on FleetCor Technologies from $265.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Finally, Jefferies Financial Group set a $250.00 price objective on FleetCor Technologies and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. FleetCor Technologies has a consensus rating of “Buy” and an average target price of $255.33.

Shares of FLT traded up $1.44 on Wednesday, reaching $274.99. The stock had a trading volume of 341,974 shares, compared to its average volume of 572,585. The stock has a market cap of $23.09 billion, a P/E ratio of 27.69, a P/E/G ratio of 1.52 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.91 and a quick ratio of 0.86. FleetCor Technologies, Inc. has a twelve month low of $172.18 and a twelve month high of $276.89.

FleetCor Technologies (NYSE:FLT) last announced its earnings results on Tuesday, May 7th. The business services provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.10. The firm had revenue of $621.80 million for the quarter, compared to analysts’ expectations of $608.40 million. FleetCor Technologies had a return on equity of 26.56% and a net margin of 32.74%. FleetCor Technologies’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 EPS. Research analysts expect that FleetCor Technologies, Inc. will post 11.11 EPS for the current fiscal year.

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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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