IFM Investors Pty Ltd purchased a new stake in Fluor Corporation (NYSE:FLR) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,377 shares of the construction company’s stock, valued at approximately $226,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of FLR. Balentine LLC increased its stake in Fluor by 99.1% in the third quarter. Balentine LLC now owns 2,799 shares of the construction company’s stock valued at $118,000 after purchasing an additional 1,393 shares in the last quarter. Captrust Financial Advisors bought a new stake in Fluor in the second quarter valued at $169,000. Greenwood Capital Associates LLC increased its stake in Fluor by 10.5% in the second quarter. Greenwood Capital Associates LLC now owns 4,515 shares of the construction company’s stock valued at $207,000 after purchasing an additional 430 shares in the last quarter. Investment Counselors of Maryland LLC increased its stake in Fluor by 73.6% in the third quarter. Investment Counselors of Maryland LLC now owns 5,736 shares of the construction company’s stock valued at $241,000 after purchasing an additional 2,431 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in shares of Fluor during the third quarter valued at about $299,000. 84.15% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on FLR shares. Robert W. Baird lifted their price objective on shares of Fluor from $40.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. UBS lifted their price objective on shares of Fluor from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Stephens reiterated an “overweight” rating and set a $50.00 price objective (up from $44.00) on shares of Fluor in a report on Saturday, October 14th. Seaport Global Securities reiterated a “neutral” rating and set a $44.00 price objective (down from $50.00) on shares of Fluor in a report on Wednesday, October 11th. Finally, Zacks Investment Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $48.00.
Fluor (NYSE:FLR) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.58 by $0.09. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.73 billion. Fluor had a net margin of 1.03% and a return on equity of 11.69%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. analysts predict that Fluor Corporation will post 1.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 5th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.65%. The ex-dividend date is Monday, December 4th. Fluor’s dividend payout ratio is 58.74%.
In other Fluor news, insider Jose Luis M. Bustamante sold 2,750 shares of Fluor stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $48.63, for a total value of $133,732.50. Following the sale, the insider now owns 38,757 shares of the company’s stock, valued at $1,884,752.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman David Thomas Seaton sold 40,000 shares of Fluor stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $47.57, for a total transaction of $1,902,800.00. Following the completion of the sale, the chairman now directly owns 276,643 shares in the company, valued at approximately $13,159,907.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,932 shares of company stock worth $2,191,092. Insiders own 1.30% of the company’s stock.
Fluor Company 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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