Flinton Capital Management LLC boosted its stake in Fluor Corporation (NYSE:FLR) by 33.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,856 shares of the construction company’s stock after buying an additional 1,952 shares during the quarter. Flinton Capital Management LLC’s holdings in Fluor Corporation were worth $360,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in FLR. BlackRock Inc. boosted its stake in Fluor Corporation by 3,137.9% in the 1st quarter. BlackRock Inc. now owns 9,025,119 shares of the construction company’s stock valued at $474,903,000 after buying an additional 8,746,386 shares in the last quarter. CI Global Investments Inc. boosted its stake in Fluor Corporation by 66.8% in the 2nd quarter. CI Global Investments Inc. now owns 4,721,828 shares of the construction company’s stock valued at $216,165,000 after buying an additional 1,890,300 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in Fluor Corporation by 1,807.7% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 537,369 shares of the construction company’s stock valued at $26,482,000 after buying an additional 509,200 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Fluor Corporation by 4.1% in the 1st quarter. Clearbridge Investments LLC now owns 12,415,798 shares of the construction company’s stock valued at $653,319,000 after buying an additional 487,187 shares in the last quarter. Finally, Holowesko Partners Ltd. boosted its stake in Fluor Corporation by 28.9% in the 2nd quarter. Holowesko Partners Ltd. now owns 1,798,000 shares of the construction company’s stock valued at $82,312,000 after buying an additional 403,000 shares in the last quarter. 84.45% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. Seaport Global Securities reaffirmed a “neutral” rating and issued a $44.00 price target on shares of Fluor Corporation in a research note on Wednesday. KeyCorp reiterated a “buy” rating and issued a $50.00 price objective on shares of Fluor Corporation in a research report on Friday, September 22nd. Robert W. Baird reiterated a “hold” rating and issued a $40.00 price objective on shares of Fluor Corporation in a research report on Tuesday, September 5th. Johnson Rice downgraded Fluor Corporation from a “buy” rating to an “accumulate” rating and cut their price objective for the company from $62.00 to $48.00 in a research report on Monday, August 7th. Finally, Canaccord Genuity set a $48.00 price objective on Fluor Corporation and gave the company a “buy” rating in a research report on Sunday, August 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $48.00.
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Shares of Fluor Corporation (FLR) opened at 42.61 on Thursday. The stock’s 50 day moving average price is $40.46 and its 200-day moving average price is $44.82. The company has a market cap of $5.96 billion, a P/E ratio of 53.20 and a beta of 1.40. Fluor Corporation has a 52-week low of $37.04 and a 52-week high of $58.37.
Fluor Corporation (NYSE:FLR) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.13. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter last year, the business posted $0.72 EPS. Fluor Corporation’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities analysts expect that Fluor Corporation will post $1.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 5th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, August 31st. Fluor Corporation’s dividend payout ratio (DPR) is 106.33%.
Fluor Corporation 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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