Belpointe Asset Management LLC Makes New $58,000 Investment in FLEETCOR Technologies, Inc. (NYSE:FLT)

Belpointe Asset Management LLC bought a new position in shares of FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 318 shares of the business services provider’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLT. Covestor Ltd boosted its position in shares of FLEETCOR Technologies by 253.1% during the first quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock worth $28,000 after buying an additional 81 shares during the period. Lazard Asset Management LLC purchased a new position in shares of FLEETCOR Technologies during the first quarter worth $35,000. Fred Alger Management LLC boosted its position in shares of FLEETCOR Technologies by 102.4% during the third quarter. Fred Alger Management LLC now owns 170 shares of the business services provider’s stock worth $30,000 after buying an additional 86 shares during the period. Signaturefd LLC boosted its position in shares of FLEETCOR Technologies by 100.0% during the fourth quarter. Signaturefd LLC now owns 242 shares of the business services provider’s stock worth $44,000 after buying an additional 121 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in FLEETCOR Technologies in the third quarter valued at $47,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

FLEETCOR Technologies Price Performance

Shares of NYSE:FLT opened at $237.70 on Tuesday. FLEETCOR Technologies, Inc. has a one year low of $161.69 and a one year high of $251.61. The business’s fifty day moving average price is $214.12 and its two-hundred day moving average price is $202.37. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $17.55 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.21 and a beta of 1.20.

FLEETCOR Technologies (NYSE:FLT – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.11. FLEETCOR Technologies had a return on equity of 44.25% and a net margin of 26.88%. The business had revenue of $901.30 million for the quarter, compared to analysts’ expectations of $881.03 million. During the same quarter last year, the firm earned $3.35 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. On average, analysts forecast that FLEETCOR Technologies, Inc. will post 15.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank of Canada upped their price objective on FLEETCOR Technologies from $226.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 9th. Morgan Stanley upped their price objective on FLEETCOR Technologies from $188.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday, February 9th. Robert W. Baird raised FLEETCOR Technologies from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $235.00 to $254.00 in a research note on Friday, February 10th. TheStreet raised FLEETCOR Technologies from a “c+” rating to a “b-” rating in a research note on Friday, April 14th. Finally, Barclays increased their target price on FLEETCOR Technologies from $245.00 to $270.00 in a research note on Sunday, May 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $253.07.

FLEETCOR Technologies Company Profile

(Get Rating)

FLEETCOR Technologies, Inc engages in the provision of digital payment solutions that enables businesses to control purchases and make payments. It operates through the following geographical segments: North America, International, and Brazil. The company was founded by William Boatner Reily III and Ronald F.