Fluor Co. (NEW) (NYSE:FLR) PT Lowered to $36.00 at Citigroup

Fluor Co. (NEW) (NYSE:FLR) had its target price lowered by Citigroup from $37.00 to $36.00 in a report issued on Friday, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the construction company’s stock.

A number of other research firms have also issued reports on FLR. Canaccord Genuity increased their target price on Fluor Co. (NEW) from $32.00 to $35.00 and gave the company a hold rating in a report on Wednesday, July 10th. DA Davidson reduced their target price on Fluor Co. (NEW) to $32.00 and set a neutral rating for the company in a report on Tuesday, May 7th. ValuEngine upgraded Fluor Co. (NEW) from a strong sell rating to a sell rating in a report on Thursday, June 13th. Macquarie upgraded Fluor Co. (NEW) from a neutral rating to an outperform rating in a report on Friday, May 3rd. Finally, Goldman Sachs Group lowered Fluor Co. (NEW) from a buy rating to a neutral rating and reduced their target price for the company from $44.00 to $28.00 in a report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $42.18.

NYSE FLR traded down $1.27 on Friday, reaching $21.40. 147,240 shares of the stock traded hands, compared to its average volume of 1,211,222. The stock’s fifty day moving average price is $31.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.04 and a current ratio of 1.49. The company has a market capitalization of $3.17 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 1.07 and a beta of 2.04. Fluor Co. has a 12 month low of $22.10 and a 12 month high of $60.60.

Fluor Co. (NEW) (NYSE:FLR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.19). Fluor Co. (NEW) had a negative net margin of 2.74% and a positive return on equity of 6.73%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the previous year, the business posted $0.81 earnings per share. The business’s revenue for the quarter was down 16.2% compared to the same quarter last year. Research analysts predict that Fluor Co. will post 1.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.93%. The ex-dividend date is Tuesday, September 3rd. Fluor Co. (NEW)’s payout ratio is 39.07%.

In other Fluor Co. (NEW) news, insider Alan L. Boeckmann purchased 16,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were bought at an average cost of $29.81 per share, with a total value of $476,960.00. Following the completion of the transaction, the insider now owns 17,250 shares in the company, valued at approximately $514,222.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carlos M. Hernandez purchased 17,001 shares of the stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $29.52 per share, for a total transaction of $501,869.52. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Several large investors have recently modified their holdings of FLR. Rehmann Capital Advisory Group lifted its stake in shares of Fluor Co. (NEW) by 133.2% in the first quarter. Rehmann Capital Advisory Group now owns 730 shares of the construction company’s stock valued at $27,000 after buying an additional 417 shares during the period. First Manhattan Co. increased its holdings in shares of Fluor Co. (NEW) by 51.2% in the first quarter. First Manhattan Co. now owns 909 shares of the construction company’s stock valued at $33,000 after purchasing an additional 308 shares in the last quarter. Institutional & Family Asset Management LLC increased its holdings in shares of Fluor Co. (NEW) by 211.7% in the first quarter. Institutional & Family Asset Management LLC now owns 957 shares of the construction company’s stock valued at $35,000 after purchasing an additional 650 shares in the last quarter. TRUE Private Wealth Advisors acquired a new stake in shares of Fluor Co. (NEW) in the second quarter valued at approximately $35,000. Finally, YorkBridge Wealth Partners LLC increased its holdings in shares of Fluor Co. (NEW) by 50.8% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,292 shares of the construction company’s stock valued at $48,000 after purchasing an additional 435 shares in the last quarter. 89.49% of the stock is currently owned by institutional investors.

Fluor Co. (NEW) Company Profile

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide. It operates through four segments: Energy & Chemicals; Mining, Industrial, Infrastructure & Power; Diversified Services; and Government.

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