Engineers Gate Manager LP Sells 30,467 Shares of Fluor Corporation (FLR)
Engineers Gate Manager LP trimmed its position in shares of Fluor Corporation (NYSE:FLR) by 38.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,965 shares of the construction company’s stock after selling 30,467 shares during the period. Engineers Gate Manager LP’s holdings in Fluor were worth $2,019,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in FLR. CI Global Investments Inc. increased its stake in shares of Fluor by 66.8% during the second quarter. CI Global Investments Inc. now owns 4,721,828 shares of the construction company’s stock worth $216,165,000 after buying an additional 1,890,300 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of Fluor by 53.8% during the third quarter. Artisan Partners Limited Partnership now owns 4,000,036 shares of the construction company’s stock worth $168,402,000 after buying an additional 1,399,145 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Fluor during the third quarter worth approximately $57,365,000. Becker Capital Management Inc. purchased a new stake in shares of Fluor during the third quarter worth approximately $26,858,000. Finally, Janus Henderson Group PLC increased its stake in shares of Fluor by 4,064.5% during the second quarter. Janus Henderson Group PLC now owns 577,992 shares of the construction company’s stock worth $26,460,000 after buying an additional 564,113 shares during the period. Hedge funds and other institutional investors own 84.30% of the company’s stock.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Fluor from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 7th. UBS upped their price target on Fluor from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. KeyCorp reaffirmed a “buy” rating and issued a $50.00 price target on shares of Fluor in a report on Friday, September 22nd. Robert W. Baird reaffirmed a “hold” rating and issued a $40.00 price target on shares of Fluor in a report on Tuesday, September 5th. Finally, Citigroup set a $53.00 price target on Fluor and gave the company a “buy” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Fluor presently has a consensus rating of “Hold” and an average target price of $47.45.
In other news, Chairman David Thomas Seaton sold 40,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was 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 $13,159,907.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jose Luis M. Bustamante sold 2,750 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $48.63, for a total value of $133,732.50. Following the completion of the sale, the insider now directly owns 38,757 shares of the company’s stock, valued at $1,884,752.91. The disclosure for this sale can be found here. Insiders sold 45,932 shares of company stock valued at $2,191,092 over the last three months. Corporate insiders own 1.30% of the company’s stock.
Fluor Corporation (FLR) traded up $0.84 during mid-day trading on Friday, hitting $50.38. The stock had a trading volume of 969,575 shares, compared to its average volume of 1,337,278. The firm has a market capitalization of $6,929.42, a P/E ratio of 17.82, a P/E/G ratio of 3.45 and a beta of 1.46. Fluor Corporation has a 1-year low of $37.03 and a 1-year high of $58.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.56 and a quick ratio of 1.18.
Fluor (NYSE:FLR) last posted its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.73 billion. Fluor had a return on equity of 11.69% and a net margin of 1.03%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. equities research analysts expect that Fluor Corporation will post 1.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Tuesday, December 5th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Monday, December 4th. Fluor’s payout ratio is currently 58.74%.
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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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