Sustainable Growth Advisers Lp buys $194,582,748 stake in FleetCor Technologies (FLT)

FleetCor Technologies (FLT) : Sustainable Growth Advisers Lp scooped up 44,968 additional shares in FleetCor Technologies during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 1,181,294 shares of FleetCor Technologies which is valued at $194,582,748.FleetCor Technologies makes up approximately 3.84% of Sustainable Growth Advisers Lp’s portfolio.

Other Hedge Funds, Including , Assetmark Inc reduced its stake in FLT by selling 53 shares or 11.06% in the most recent quarter. The Hedge Fund company now holds 426 shares of FLT which is valued at $70,171.Bb&t Securities boosted its stake in FLT in the latest quarter, The investment management firm added 104 additional shares and now holds a total of 7,057 shares of FleetCor Technologies which is valued at $1,145,492. FleetCor Technologies makes up approx 0.02% of Bb&t Securities’s portfolio.Beese Fulmer Investment Management reduced its stake in FLT by selling 260 shares or 0.88% in the most recent quarter. The Hedge Fund company now holds 29,411 shares of FLT which is valued at $4,521,059. FleetCor Technologies makes up approx 1.26% of Beese Fulmer Investment Management’s portfolio.Kanaly Trust Co reduced its stake in FLT by selling 43 shares or 14.73% in the most recent quarter. The Hedge Fund company now holds 249 shares of FLT which is valued at $37,798. FleetCor Technologies makes up approx 0.01% of Kanaly Trust Co’s portfolio. Fox Run Management L.l.c. sold out all of its stake in FLT during the most recent quarter. The investment firm sold 1,600 shares of FLT which is valued $243,008.

FleetCor Technologies opened for trading at $164.74 and hit $169.03 on the upside on Monday, eventually ending the session at $168.94, with a gain of 2.72% or 4.48 points. The heightened volatility saw the trading volume jump to 6,67,831 shares. Company has a market cap of $20,430 M.

On the company’s financial health, FleetCor Technologies reported $1.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $1.54. The company had revenue of $417.90 million for the quarter, compared to analysts expectations of $415.87 million. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 EPS.

Many Wall Street Analysts have commented on FleetCor Technologies. JP Morgan Upgraded FleetCor Technologies on Jul 12, 2016 to ” Overweight”, Price Target of the shares are set at $159.FleetCor Technologies was Initiated by SunTrust to “Buy” on Jun 24, 2016.

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. The Company operates in two segments: North America and International. In North America the Company sells a fuel card product commercial payment and data solutions as well as a fleet telematics offering which allows customers to track the location of mobile workers in field-based businesses as well as over-the-road trucking fleets. In its International segment the Company provides small and mid-sized fleets with fuel cards to control and manage spending. Additionally the Company provides a similar fuel product in its International segment to over-the-road trucking fleets shipping fleets and other operators of heavily industrialized equipment.

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