MKM Partners set a $56.00 price objective on Fluor Co. (NEW) (NYSE:FLR) in a report issued on Wednesday, January 17th. The firm currently has a hold rating on the construction company’s stock.
FLR has been the subject of several other research reports. Zacks Investment Research upgraded Fluor Co. (NEW) from a strong sell rating to a hold rating in a report on Tuesday, November 7th. KeyCorp restated a buy rating and issued a $50.00 price objective on shares of Fluor Co. (NEW) in a research note on Friday, September 22nd. UBS Group upped their price objective on Fluor Co. (NEW) from $43.00 to $46.00 and gave the company a neutral rating in a research note on Friday, November 3rd. Citigroup set a $53.00 price objective on Fluor Co. (NEW) and gave the company a buy rating in a research note on Friday, October 27th. Finally, Robert W. Baird upped their price objective on Fluor Co. (NEW) from $40.00 to $48.00 and gave the company a neutral rating in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $54.62.
Shares of Fluor Co. (NYSE FLR) traded up $1.30 during trading on Wednesday, reaching $56.31. The company had a trading volume of 1,549,137 shares, compared to its average volume of 1,570,000. Fluor Co. has a 1-year low of $37.04 and a 1-year high of $62.09. The company has a market capitalization of $7,880.00, a P/E ratio of 39.38, a P/E/G ratio of 2.62 and a beta of 1.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.56 and a quick ratio of 1.18.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Thursday, March 1st will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.49%. Fluor Co. (NEW)’s dividend payout ratio (DPR) is 58.74%.
In related news, insider Jose Luis M. Bustamante sold 2,750 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $48.63, for a total transaction of $133,732.50. Following the sale, the insider now owns 38,757 shares of the company’s stock, valued at approximately $1,884,752.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bruce A. Stanski sold 2,792 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $48.48, for a total value of $135,356.16. Following the completion of the sale, the chief financial officer now directly owns 40,104 shares in the company, valued at approximately $1,944,241.92. The disclosure for this sale can be found here. Insiders have sold a total of 45,932 shares of company stock worth $2,191,092 in the last three months. 1.30% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. American Beacon Advisors Inc. purchased a new stake in shares of Fluor Co. (NEW) in the 4th quarter valued at about $120,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Fluor Co. (NEW) in the 4th quarter valued at about $135,000. Balentine LLC raised its holdings in shares of Fluor Co. (NEW) by 99.1% during the 3rd quarter. Balentine LLC now owns 2,799 shares of the construction company’s stock valued at $118,000 after buying an additional 1,393 shares in the last quarter. Mission Wealth Management LP purchased a new position in shares of Fluor Co. (NEW) during the 4th quarter valued at about $201,000. Finally, Fort Pitt Capital Group LLC purchased a new position in shares of Fluor Co. (NEW) during the 4th quarter valued at about $202,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.
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About Fluor Co. (NEW)
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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