Tower Bridge Advisors lessened its holdings in shares of Fluor Co. (NEW) (NYSE:FLR) by 26.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,850 shares of the construction company’s stock after selling 5,650 shares during the period. Tower Bridge Advisors’ holdings in Fluor Co. (NEW) were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in FLR. Balentine LLC increased its stake in shares of Fluor Co. (NEW) by 99.1% during the third quarter. Balentine LLC now owns 2,799 shares of the construction company’s stock valued at $118,000 after acquiring an additional 1,393 shares during the period. MAI Capital Management acquired a new position in Fluor Co. (NEW) in the fourth quarter worth approximately $224,000. IFM Investors Pty Ltd acquired a new position in Fluor Co. (NEW) in the third quarter worth approximately $226,000. Oakbrook Investments LLC acquired a new position in Fluor Co. (NEW) in the fourth quarter worth approximately $284,000. Finally, Investment Counselors of Maryland LLC grew its position in Fluor Co. (NEW) by 73.6% in the third quarter. Investment Counselors of Maryland LLC now owns 5,736 shares of the construction company’s stock worth $241,000 after buying an additional 2,431 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.
FLR has been the topic of several recent research reports. Credit Suisse Group decreased their price target on shares of Fluor Co. (NEW) from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. Robert W. Baird raised shares of Fluor Co. (NEW) from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $48.00 to $61.00 in a research note on Wednesday, January 3rd. Barclays raised their price objective on shares of Fluor Co. (NEW) from $54.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Zacks Investment Research lowered shares of Fluor Co. (NEW) from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, ValuEngine lowered shares of Fluor Co. (NEW) from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Fluor Co. (NEW) currently has a consensus rating of “Hold” and a consensus price target of $54.62.
In other news, Chairman David Thomas Seaton sold 40,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $47.57, for a total transaction of $1,902,800.00. Following the transaction, the chairman now owns 276,643 shares in the company, valued at approximately $13,159,907.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Bruce A. Stanski sold 2,792 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $48.48, for a total transaction of $135,356.16. Following the transaction, the chief financial officer now owns 40,104 shares in the company, valued at approximately $1,944,241.92. The disclosure for this sale can be found here. Insiders sold a total of 45,932 shares of company stock worth $2,191,092 in the last quarter. Insiders own 1.30% of the company’s stock.
Shares of Fluor Co. (NYSE:FLR) traded up $1.45 on Wednesday, reaching $57.27. 622,133 shares of the company traded hands, compared to its average volume of 1,591,817. The company has a market cap of $7,740.00, a P/E ratio of 38.71, a PEG ratio of 2.68 and a beta of 1.53. Fluor Co. has a 12-month low of $37.03 and a 12-month high of $62.09. The company has a quick ratio of 1.18, a current ratio of 1.56 and a debt-to-equity ratio of 0.46.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Thursday, March 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.84 annualized dividend and a yield of 1.47%. Fluor Co. (NEW)’s dividend payout ratio (DPR) is presently 58.74%.
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Fluor Co. (NEW) 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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