Afam Capital Inc. Trims Stake in Fluor Corporation (FLR)
Afam Capital Inc. cut its holdings in Fluor Corporation (NYSE:FLR) by 9.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,449 shares of the construction company’s stock after selling 8,181 shares during the period. Afam Capital Inc. owned about 0.05% of Fluor worth $3,176,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. California Public Employees Retirement System increased its holdings in shares of Fluor by 10.7% in the 3rd quarter. California Public Employees Retirement System now owns 367,424 shares of the construction company’s stock worth $15,469,000 after buying an additional 35,512 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Fluor by 9.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 48,664 shares of the construction company’s stock worth $2,049,000 after buying an additional 4,401 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Fluor by 17.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,675 shares of the construction company’s stock worth $492,000 after buying an additional 1,705 shares during the last quarter. Balentine LLC increased its holdings in shares of Fluor by 99.1% in the 3rd quarter. Balentine LLC now owns 2,799 shares of the construction company’s stock worth $118,000 after buying an additional 1,393 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. bought a new stake in shares of Fluor in the 3rd quarter worth about $331,000. Hedge funds and other institutional investors own 84.30% of the company’s stock.
A number of analysts have recently weighed in on the stock. Barclays assumed coverage on shares of Fluor in a report on Tuesday. They issued a “hold” rating and a $54.00 target price on the stock. Stephens restated an “overweight” rating and issued a $50.00 target price (up from $44.00) on shares of Fluor in a report on Saturday, October 14th. Robert W. Baird lifted their price target on shares of Fluor from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. KeyCorp reaffirmed a “buy” rating and set a $50.00 price target on shares of Fluor in a research note on Friday, September 22nd. Finally, Seaport Global Securities reaffirmed a “neutral” rating and set a $44.00 price target (down from $50.00) on shares of Fluor in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $48.00.
Fluor (NYSE:FLR) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.09. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.73 billion. Fluor had a net margin of 1.03% and a return on equity of 11.69%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 EPS. analysts predict that Fluor Corporation will post 1.56 earnings per share 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. The ex-dividend date is Monday, December 4th. This represents a $0.84 annualized dividend and a yield of 1.67%. Fluor’s dividend payout ratio (DPR) is 58.74%.
In other Fluor news, Chairman David Thomas Seaton sold 40,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $47.57, for a total value of $1,902,800.00. Following the completion of the sale, the chairman now directly owns 276,643 shares of the company’s stock, valued at approximately $13,159,907.51. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Bruce A. Stanski sold 2,792 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $48.48, for a total transaction of $135,356.16. Following the completion of the sale, the chief financial officer now directly owns 40,104 shares of the company’s stock, valued at $1,944,241.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,932 shares of company stock valued at $2,191,092. 1.30% of the stock is owned by corporate insiders.
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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