Shell Asset Management Co. decreased its holdings in Fluor Corporation (NYSE:FLR) by 50.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,802 shares of the construction company’s stock after selling 25,507 shares during the quarter. Shell Asset Management Co.’s holdings in Fluor Corporation were worth $1,657,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in FLR. Principal Financial Group Inc. lifted its position in Fluor Corporation by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 211,245 shares of the construction company’s stock valued at $11,115,000 after acquiring an additional 2,793 shares in the last quarter. Wellington Management Group LLP bought a new position in Fluor Corporation in the 1st quarter valued at about $1,648,000. Teachers Advisors LLC lifted its position in Fluor Corporation by 26.4% in the 1st quarter. Teachers Advisors LLC now owns 482,430 shares of the construction company’s stock valued at $25,385,000 after acquiring an additional 100,713 shares in the last quarter. Thrivent Financial For Lutherans lifted its position in Fluor Corporation by 6.7% in the 1st quarter. Thrivent Financial For Lutherans now owns 5,130 shares of the construction company’s stock valued at $270,000 after acquiring an additional 320 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Fluor Corporation by 6.1% in the 1st quarter. Amalgamated Bank now owns 9,780 shares of the construction company’s stock valued at $515,000 after acquiring an additional 563 shares in the last quarter. 84.74% of the stock is currently owned by institutional investors and hedge funds.
Fluor Corporation (NYSE FLR) opened at 42.74 on Friday. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 53.36 and a beta of 1.40. Fluor Corporation has a 1-year low of $37.04 and a 1-year high of $58.37. The company has a 50-day moving average of $41.88 and a 200-day moving average of $44.07.
Fluor Corporation (NYSE:FLR) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.13. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.94 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. Analysts anticipate that Fluor Corporation will post $1.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 5th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.84 dividend on an annualized basis and a yield of 1.97%. Fluor Corporation’s dividend payout ratio is currently 106.33%.
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FLR has been the topic of several recent research reports. Johnson Rice cut shares of Fluor Corporation from a “buy” rating to an “accumulate” rating and dropped their price target for the company from $62.00 to $48.00 in a research report on Monday, August 7th. Canaccord Genuity set a $48.00 price objective on shares of Fluor Corporation and gave the company a “buy” rating in a research note on Sunday, August 6th. Citigroup Inc. set a $53.00 price objective on shares of Fluor Corporation and gave the company a “buy” rating in a research note on Friday. KeyCorp reiterated a “buy” rating and issued a $50.00 price objective on shares of Fluor Corporation in a research note on Friday, September 22nd. Finally, Robert W. Baird reiterated a “hold” rating and issued a $40.00 price objective on shares of Fluor Corporation in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Fluor Corporation has a consensus rating of “Hold” and a consensus price target of $47.17.
About Fluor Corporation
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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