Kovitz Investment Group Partners LLC bought a new position in shares of Fluor Corporation (NYSE:FLR) during the second quarter, Holdings Channel reports. The fund bought 12,625 shares of the construction company’s stock, valued at approximately $578,000.

Several other hedge funds have also recently made changes to their positions in the stock. Reliance Trust Co. of Delaware boosted its stake in shares of Fluor Corporation by 15.2% in the first quarter. Reliance Trust Co. of Delaware now owns 21,612 shares of the construction company’s stock worth $1,137,000 after buying an additional 2,850 shares during the period. Cullinan Associates Inc. boosted its stake in shares of Fluor Corporation by 0.3% in the first quarter. Cullinan Associates Inc. now owns 33,000 shares of the construction company’s stock worth $1,736,000 after buying an additional 100 shares during the period. Howard Capital Management boosted its stake in shares of Fluor Corporation by 4.3% in the first quarter. Howard Capital Management now owns 183,045 shares of the construction company’s stock worth $9,632,000 after buying an additional 7,577 shares during the period. Heritage Investors Management Corp boosted its stake in shares of Fluor Corporation by 2.3% in the first quarter. Heritage Investors Management Corp now owns 254,768 shares of the construction company’s stock worth $13,406,000 after buying an additional 5,673 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Fluor Corporation during the first quarter worth about $813,000. 82.77% of the stock is owned by hedge funds and other institutional investors.

Fluor Corporation (NYSE:FLR) opened at 39.15 on Thursday. The stock’s 50 day moving average price is $44.33 and its 200-day moving average price is $49.63. The stock has a market capitalization of $5.47 billion, a P/E ratio of 23.17 and a beta of 1.39. Fluor Corporation has a 52 week low of $38.63 and a 52 week high of $58.37.

Fluor Corporation (NYSE:FLR) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.13. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.94 billion. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. Equities research analysts expect that Fluor Corporation will post $1.50 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.15%. Fluor Corporation’s dividend payout ratio is presently 106.33%.

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A number of analysts recently issued reports on the company. Zacks Investment Research raised Fluor Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Monday, May 1st. Credit Suisse Group set a $59.00 target price on Fluor Corporation and gave the company a “hold” rating in a research report on Saturday, April 22nd. Canaccord Genuity raised Fluor Corporation from a “hold” rating to a “buy” rating and decreased their target price for the company from $57.00 to $55.00 in a research report on Monday, May 8th. They noted that the move was a valuation call. BidaskClub raised Fluor Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, DA Davidson raised Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Thursday, June 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $50.10.

Fluor Corporation 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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Institutional Ownership by Quarter for Fluor Corporation (NYSE:FLR)

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