Private Asset Management Inc. trimmed its holdings in shares of Fluor Corporation (NYSE:FLR) by 95.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,797 shares of the construction company’s stock after selling 88,458 shares during the quarter. Private Asset Management Inc.’s holdings in Fluor Corporation were worth $3,797,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Fluor Corporation by 35.8% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,892 shares of the construction company’s stock valued at $1,872,000 after buying an additional 10,782 shares in the last quarter. BlueMountain Capital Management LLC raised its position in Fluor Corporation by 105.1% in the 2nd quarter. BlueMountain Capital Management LLC now owns 46,527 shares of the construction company’s stock worth $2,130,000 after purchasing an additional 23,837 shares during the period. Wells Fargo & Company MN raised its position in Fluor Corporation by 14.6% in the 2nd quarter. Wells Fargo & Company MN now owns 1,233,461 shares of the construction company’s stock worth $56,466,000 after purchasing an additional 156,705 shares during the period. Legal & General Group Plc raised its position in Fluor Corporation by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 797,160 shares of the construction company’s stock worth $36,490,000 after purchasing an additional 7,877 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC raised its position in Fluor Corporation by 1,807.7% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 537,369 shares of the construction company’s stock worth $26,482,000 after purchasing an additional 509,200 shares during the period. Hedge funds and other institutional investors own 84.74% of the company’s stock.
Shares of Fluor Corporation (NYSE:FLR) traded up 0.16% during midday trading on Friday, reaching $42.76. 254,206 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $41.67 and its 200 day moving average price is $44.15. The stock has a market capitalization of $5.98 billion, a P/E ratio of 53.38 and a beta of 1.40. Fluor Corporation has a 1-year low of $37.04 and a 1-year high of $58.37.
Fluor Corporation (NYSE:FLR) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.94 billion. During the same period in the previous year, the business earned $0.72 earnings per share. Fluor Corporation’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts predict that Fluor Corporation will post $1.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 5th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, August 31st. Fluor Corporation’s dividend payout ratio (DPR) is presently 106.33%.
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A number of analysts recently weighed in on FLR shares. Johnson Rice lowered shares of Fluor Corporation from a “buy” rating to an “accumulate” rating and reduced their price objective for the stock from $62.00 to $48.00 in a research report on Monday, August 7th. Citigroup Inc. reissued a “buy” rating and issued a $53.00 price objective (up from $50.00) on shares of Fluor Corporation in a research report on Friday. Canaccord Genuity set a $48.00 target price on shares of Fluor Corporation and gave the stock a “buy” rating in a research note on Sunday, August 6th. KeyCorp restated a “buy” rating and issued a $50.00 target price on shares of Fluor Corporation in a research note on Friday, September 22nd. Finally, Robert W. Baird restated a “hold” rating and issued a $40.00 target price on shares of Fluor Corporation in a research note on Tuesday, September 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.17.
Fluor Corporation Profile
Fluor Corporation (Fluor) is a holding company. The Company operates its business in four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Government, and Maintenance, Modification & Asset Integrity (MMAI). The Company, through its subsidiaries, offers professional services providing engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services on a global basis.
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