FleetCor Technologies Inc. (FLT) Shares Bought by Legal & General Group Plc

Legal & General Group Plc raised its position in shares of FleetCor Technologies Inc. (NYSE:FLT) by 4.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 289,256 shares of the company’s stock after buying an additional 11,323 shares during the period. Legal & General Group Plc owned 0.31% of FleetCor Technologies worth $43,027,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its position in shares of FleetCor Technologies by 1.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,952,329 shares of the company’s stock worth $279,046,000 after buying an additional 18,969 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of FleetCor Technologies by 0.5% in the fourth quarter. Baird Financial Group Inc. now owns 57,984 shares of the company’s stock worth $8,288,000 after buying an additional 316 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of FleetCor Technologies during the fourth quarter worth $3,683,000. AHL Partners LLP purchased a new position in shares of FleetCor Technologies during the fourth quarter worth $2,944,000. Finally, Soroban Capital Partners LP raised its position in shares of FleetCor Technologies by 18.5% in the first quarter. Soroban Capital Partners LP now owns 995,000 shares of the company’s stock worth $148,006,000 after buying an additional 155,000 shares in the last quarter.

Shares of FleetCor Technologies Inc. (NYSE:FLT) traded down 0.84% during trading on Wednesday, reaching $150.75. The company’s stock had a trading volume of 244,299 shares. FleetCor Technologies Inc. has a 52 week low of $107.56 and a 52 week high of $164.61. The company has a 50 day moving average price of $146.23 and a 200 day moving average price of $140.78. The firm has a market capitalization of $13.95 billion and a P/E ratio of 37.50.

FleetCor Technologies (NYSE:FLT) last posted its earnings results on Wednesday, May 4th. The company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.04. The firm earned $414.30 million during the quarter, compared to analysts’ expectations of $417.86 million. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 earnings per share. On average, equities research analysts expect that FleetCor Technologies Inc. will post $6.62 EPS for the current fiscal year.

A number of research analysts have recently weighed in on the company. Barclays PLC increased their price objective on FleetCor Technologies from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 5th. JPMorgan Chase & Co. raised FleetCor Technologies from a “neutral” rating to an “overweight” rating and set a $159.00 price objective on the stock in a report on Tuesday, July 12th. Compass Point assumed coverage on FleetCor Technologies in a report on Friday, April 15th. They issued a “neutral” rating and a $145.00 price objective on the stock. Zacks Investment Research raised FleetCor Technologies from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a report on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on FleetCor Technologies from $147.00 to $173.00 in a report on Tuesday, April 12th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $162.07.

In related news, Director Richard Macchia sold 1,200 shares of the business’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $151.19, for a total value of $181,428.00. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,708,447. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd House sold 4,347 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $151.99, for a total value of $660,700.53. Following the completion of the transaction, the insider now owns 15,984 shares in the company, valued at approximately $2,429,408.16. The disclosure for this sale can be found here.

FleetCor Technologies, Inc is an independent global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand.