State of New Jersey Common Pension Fund D Sells 217,200 Shares of Fluor Co. (NEW) (NYSE:FLR)

State of New Jersey Common Pension Fund D lowered its stake in shares of Fluor Co. (NEW) (NYSE:FLR) by 67.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 102,800 shares of the construction company’s stock after selling 217,200 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Fluor Co. (NEW) were worth $1,967,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Fluor Co. (NEW) by 31.3% during the second quarter. BlackRock Inc. now owns 14,151,867 shares of the construction company’s stock worth $476,776,000 after buying an additional 3,375,108 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Fluor Co. (NEW) by 39.3% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,864,553 shares of the construction company’s stock valued at $197,577,000 after purchasing an additional 1,655,100 shares during the period. Morgan Stanley grew its stake in Fluor Co. (NEW) by 1,555.7% in the 2nd quarter. Morgan Stanley now owns 4,428,088 shares of the construction company’s stock valued at $149,183,000 after purchasing an additional 4,160,639 shares during the period. Bank of New York Mellon Corp grew its stake in Fluor Co. (NEW) by 15.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,455,262 shares of the construction company’s stock valued at $82,717,000 after purchasing an additional 331,169 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Fluor Co. (NEW) by 1.1% in the 2nd quarter. Wells Fargo & Company MN now owns 2,004,645 shares of the construction company’s stock valued at $67,537,000 after purchasing an additional 22,719 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Shares of NYSE FLR opened at $18.80 on Friday. Fluor Co. has a one year low of $16.00 and a one year high of $47.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.38 and a quick ratio of 1.12. The business’s fifty day moving average price is $18.92 and its 200-day moving average price is $25.54. The stock has a market capitalization of $2.68 billion, a PE ratio of 8.74 and a beta of 2.17.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.13%. Fluor Co. (NEW)’s dividend payout ratio is presently 39.07%.

FLR has been the subject of a number of recent analyst reports. Canaccord Genuity upgraded Fluor Co. (NEW) from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Thursday, August 22nd. TheStreet downgraded Fluor Co. (NEW) from a “c” rating to a “d+” rating in a research note on Friday, August 2nd. Deutsche Bank set a $17.00 price objective on Fluor Co. (NEW) and gave the company a “hold” rating in a research note on Friday, November 1st. KeyCorp restated a “hold” rating on shares of Fluor Co. (NEW) in a research note on Friday, August 2nd. Finally, Credit Suisse Group reduced their price objective on Fluor Co. (NEW) from $31.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.70.

About Fluor Co. (NEW)

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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Institutional Ownership by Quarter for Fluor Co. (NEW) (NYSE:FLR)

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