Teacher Retirement System of Texas lessened its stake in shares of Fluor Co. (NYSE:FLR) by 19.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 314,279 shares of the construction company’s stock after selling 75,392 shares during the period. Teacher Retirement System of Texas’ holdings in Fluor were worth $17,983,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of FLR. Bank of Montreal Can lifted its position in shares of Fluor by 57.3% during the 4th quarter. Bank of Montreal Can now owns 77,673 shares of the construction company’s stock worth $4,012,000 after buying an additional 28,296 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of Fluor by 29.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 10,191 shares of the construction company’s stock worth $526,000 after buying an additional 2,344 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Fluor by 4.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 877,165 shares of the construction company’s stock worth $45,306,000 after buying an additional 39,253 shares during the period. Oakbrook Investments LLC bought a new position in shares of Fluor during the 4th quarter worth approximately $284,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Fluor by 27.2% during the 4th quarter. State of Alaska Department of Revenue now owns 27,304 shares of the construction company’s stock worth $1,408,000 after buying an additional 5,840 shares during the period. Institutional investors and hedge funds own 85.76% of the company’s stock.
Several equities analysts recently commented on FLR shares. Barclays raised their target price on Fluor from $54.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. Citigroup raised their target price on Fluor from $53.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. KeyCorp raised their target price on Fluor from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Alembic Global Advisors restated a “hold” rating on shares of Fluor in a research report on Wednesday, February 21st. Finally, Canaccord Genuity restated a “buy” rating and set a $64.00 target price on shares of Fluor in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. Fluor currently has an average rating of “Hold” and an average target price of $54.07.
In other news, Director Peter J. Fluor bought 50,000 shares of the stock in a transaction dated Tuesday, May 8th. The stock was bought at an average cost of $44.54 per share, with a total value of $2,227,000.00. Following the purchase, the director now owns 141,120 shares of the company’s stock, valued at $6,285,484.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robin K. Chopra sold 5,553 shares of Fluor stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.49, for a total value of $319,241.97. The disclosure for this sale can be found here. Insiders sold a total of 121,218 shares of company stock valued at $6,953,603 over the last three months. Insiders own 1.40% of the company’s stock.
FLR stock opened at $49.90 on Friday. Fluor Co. has a fifty-two week low of $37.03 and a fifty-two week high of $62.09. The firm has a market cap of $7.00 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48. The company has a quick ratio of 1.01, a current ratio of 1.40 and a debt-to-equity ratio of 0.51.
Fluor (NYSE:FLR) last released its quarterly earnings results on Thursday, May 3rd. The construction company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.25). Fluor had a net margin of 0.58% and a return on equity of 11.08%. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.69 billion. During the same period in the prior year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. equities research analysts expect that Fluor Co. will post 2.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Friday, June 1st will be paid a $0.21 dividend. The ex-dividend date is Thursday, May 31st. This represents a $0.84 annualized dividend and a dividend yield of 1.68%. Fluor’s dividend payout ratio (DPR) is currently 51.53%.
Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. It operates through four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Diversified Services; and Government.
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