Employees Retirement System of Texas Purchases 48,000 Shares of Fluor Corporation (FLR)
Employees Retirement System of Texas increased its position in Fluor Corporation (NYSE:FLR) by 31.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 201,000 shares of the construction company’s stock after purchasing an additional 48,000 shares during the period. Employees Retirement System of Texas owned 0.14% of Fluor Corporation worth $9,202,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Harbour Capital Advisors LLC bought a new position in Fluor Corporation in the first quarter worth $124,000. Huntington National Bank boosted its holdings in shares of Fluor Corporation by 27.2% during the 2nd quarter. Huntington National Bank now owns 3,468 shares of the construction company’s stock valued at $159,000 after buying an additional 741 shares in the last quarter. Smithfield Trust Co. boosted its holdings in shares of Fluor Corporation by 393.3% during the 2nd quarter. Smithfield Trust Co. now owns 3,700 shares of the construction company’s stock valued at $169,000 after buying an additional 2,950 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Fluor Corporation during the 2nd quarter valued at $169,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Fluor Corporation during the 1st quarter valued at $175,000. 84.51% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on FLR shares. Deutsche Bank AG lowered shares of Fluor Corporation from a “buy” rating to a “hold” rating and decreased their price target for the stock from $55.00 to $40.00 in a research note on Friday, August 4th. Zacks Investment Research cut shares of Fluor Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, June 12th. Canaccord Genuity set a $48.00 price objective on shares of Fluor Corporation and gave the stock a “buy” rating in a research note on Sunday, August 6th. BidaskClub raised shares of Fluor Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Finally, Robert W. Baird restated a “hold” rating and issued a $40.00 price objective on shares of Fluor Corporation in a report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Fluor Corporation currently has a consensus rating of “Hold” and a consensus price target of $49.25.
Fluor Corporation (NYSE FLR) traded up 0.62% during midday trading on Monday, hitting $42.36. 102,870 shares of the stock were exchanged. The company has a market cap of $5.93 billion, a PE ratio of 52.88 and a beta of 1.40. Fluor Corporation has a 12 month low of $37.04 and a 12 month high of $58.37. The firm’s 50 day moving average price is $39.27 and its 200 day moving average price is $46.10.
Fluor Corporation (NYSE:FLR) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.13. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.94 billion. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. Fluor Corporation’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. On average, equities research analysts forecast that Fluor Corporation will post $1.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 5th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, August 31st. Fluor Corporation’s dividend payout ratio is currently 106.33%.
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Fluor Corporation 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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