Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in Fluor Co. (NEW) (NYSE:FLR) by 21.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,539 shares of the construction company’s stock after selling 3,178 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Fluor Co. (NEW) were worth $670,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. San Francisco Sentry Investment Group CA increased its stake in shares of Fluor Co. (NEW) by 5,010.0% during the second quarter. San Francisco Sentry Investment Group CA now owns 2,044 shares of the construction company’s stock valued at $100,000 after buying an additional 2,004 shares during the period. Zions Bancorporation purchased a new position in shares of Fluor Co. (NEW) during the third quarter valued at approximately $122,000. Tower Research Capital LLC TRC purchased a new position in shares of Fluor Co. (NEW) during the second quarter valued at approximately $163,000. Comerica Securities Inc. purchased a new position in shares of Fluor Co. (NEW) during the third quarter valued at approximately $206,000. Finally, CLARET ASSET MANAGEMENT Corp purchased a new position in shares of Fluor Co. (NEW) during the third quarter valued at approximately $207,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.
In related news, Chairman David Thomas Seaton bought 5,158 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were purchased at an average cost of $48.52 per share, with a total value of $250,266.16. Following the completion of the purchase, the chairman now owns 301,400 shares in the company, valued at approximately $14,623,928. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.
Several equities research analysts recently weighed in on the company. MKM Partners reaffirmed a “hold” rating and issued a $56.00 price target on shares of Fluor Co. (NEW) in a research note on Thursday, October 11th. UBS Group raised Fluor Co. (NEW) from a “neutral” rating to a “buy” rating and upped their price target for the stock from $48.00 to $69.00 in a research note on Monday, August 13th. ValuEngine cut Fluor Co. (NEW) from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Zacks Investment Research cut Fluor Co. (NEW) from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 12th. Finally, Canaccord Genuity raised Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $58.36.
Shares of FLR stock opened at $37.34 on Friday. The firm has a market capitalization of $5.45 billion, a P/E ratio of 22.91, a PEG ratio of 0.37 and a beta of 1.64. Fluor Co. has a twelve month low of $35.65 and a twelve month high of $62.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.52.
Fluor Co. (NEW) (NYSE:FLR) last issued its quarterly earnings results on Thursday, November 1st. The construction company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.03). The firm had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Fluor Co. (NEW) had a return on equity of 11.31% and a net margin of 1.21%. Fluor Co. (NEW)’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. As a group, equities analysts anticipate that Fluor Co. will post 2.54 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 4th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.25%. Fluor Co. (NEW)’s dividend payout ratio is currently 51.53%.
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Fluor Co. (NEW) Company Profile
Fluor Corp. is a holding company engages in engineering and technology. It operates through the following segments: Energy, Chemicals & Mining, Industrial, Infrastructure & Power, Government and Diversified Services. The Energy, Chemicals & Mining Segment focuses on opportunities in the upstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas, pipeline, metals and mining markets.
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