CI Global Investments Inc. decreased its position in Fluor Corporation (NYSE:FLR) by 26.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,456,966 shares of the construction company’s stock after selling 1,264,862 shares during the quarter. Fluor Corporation comprises approximately 2.9% of CI Global Investments Inc.’s holdings, making the stock its 13th largest position. CI Global Investments Inc. owned approximately 2.47% of Fluor Corporation worth $145,538,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Becker Capital Management Inc. purchased a new stake in shares of Fluor Corporation during the third quarter valued at $26,858,000. Janus Henderson Group PLC lifted its holdings in shares of Fluor Corporation by 4,064.5% during the second quarter. Janus Henderson Group PLC now owns 577,992 shares of the construction company’s stock valued at $26,460,000 after purchasing an additional 564,113 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Fluor Corporation by 1,807.7% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 537,369 shares of the construction company’s stock valued at $26,482,000 after purchasing an additional 509,200 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Fluor Corporation by 4.7% during the second quarter. BlackRock Inc. now owns 9,447,760 shares of the construction company’s stock valued at $432,519,000 after purchasing an additional 422,641 shares during the last quarter. Finally, Holowesko Partners Ltd. lifted its holdings in shares of Fluor Corporation by 28.9% during the second quarter. Holowesko Partners Ltd. now owns 1,798,000 shares of the construction company’s stock valued at $82,312,000 after purchasing an additional 403,000 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.
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Shares of Fluor Corporation (NYSE:FLR) traded down $0.36 during mid-day trading on Tuesday, reaching $46.68. The company’s stock had a trading volume of 1,200,800 shares, compared to its average volume of 1,418,586. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.18 and a current ratio of 1.56. Fluor Corporation has a 12 month low of $37.03 and a 12 month high of $58.37. The firm has a market cap of $6,579.73, a price-to-earnings ratio of 16.92, a P/E/G ratio of 3.28 and a beta of 1.42.
Fluor Corporation (NYSE:FLR) last issued its earnings results on Thursday, November 2nd. The construction company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.09. Fluor Corporation had a return on equity of 11.69% and a net margin of 1.03%. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same period in the prior year, the firm posted $0.03 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. sell-side analysts forecast that Fluor Corporation will post 1.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Tuesday, December 5th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Monday, December 4th. Fluor Corporation’s dividend payout ratio is 58.74%.
Several research firms recently weighed in on FLR. Canaccord Genuity set a $48.00 price target on Fluor Corporation and gave the company a “buy” rating in a research report on Sunday, August 6th. Seaport Global Securities reissued a “neutral” rating and set a $44.00 price target (down from $50.00) on shares of Fluor Corporation in a research report on Wednesday, October 11th. Deutsche Bank AG lowered Fluor Corporation from a “buy” rating to a “hold” rating and dropped their price target for the company from $55.00 to $40.00 in a research report on Friday, August 4th. Stephens reissued an “overweight” rating and set a $50.00 price target (up from $44.00) on shares of Fluor Corporation in a research report on Saturday, October 14th. Finally, Credit Suisse Group dropped their price target on Fluor Corporation from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Fluor Corporation has a consensus rating of “Hold” and an average price target of $47.45.
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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