Fluor Co. (NEW) (FLR) Trading Down 5.2%
Shares of Fluor Co. (NEW) (NYSE:FLR) traded down 5.2% during trading on Friday . The company traded as low as $35.57 and last traded at $35.59. 1,054,620 shares were traded during trading, a decline of 42% from the average session volume of 1,820,686 shares. The stock had previously closed at $37.54.
Several analysts have recently issued reports on the company. ValuEngine downgraded Fluor Co. (NEW) from a “hold” rating to a “sell” rating in a research report on Friday, November 23rd. Zacks Investment Research upgraded Fluor Co. (NEW) from a “sell” rating to a “hold” rating in a research report on Monday, March 11th. MKM Partners restated a “neutral” rating and issued a $39.00 price objective on shares of Fluor Co. (NEW) in a research report on Tuesday, January 8th. Credit Suisse Group restated a “buy” rating and issued a $56.00 price objective on shares of Fluor Co. (NEW) in a research report on Monday, February 11th. Finally, Goldman Sachs Group downgraded Fluor Co. (NEW) from a “conviction-buy” rating to a “buy” rating and reduced their price objective for the company from $59.00 to $44.00 in a research report on Wednesday, December 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $54.69.
The company has a quick ratio of 1.10, a current ratio of 1.53 and a debt-to-equity ratio of 0.53. The stock has a market cap of $5.24 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 0.79 and a beta of 1.76.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Monday, March 4th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $0.84 annualized dividend and a yield of 2.36%. Fluor Co. (NEW)’s payout ratio is currently 39.07%.
In related news, insider Ray F. Barnard sold 3,318 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $37.04, for a total value of $122,898.72. Following the completion of the transaction, the insider now directly owns 75,739 shares in the company, valued at $2,805,372.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ray F. Barnard sold 7,515 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $37.57, for a total value of $282,338.55. Following the completion of the transaction, the insider now owns 86,572 shares of the company’s stock, valued at $3,252,510.04. The disclosure for this sale can be found here. Insiders sold 13,570 shares of company stock valued at $506,670 over the last quarter. Insiders own 1.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Fluor Co. (NEW) in the fourth quarter valued at $547,000. Calamos Advisors LLC acquired a new position in Fluor Co. (NEW) in the fourth quarter valued at $18,773,000. Dynamic Technology Lab Private Ltd acquired a new position in Fluor Co. (NEW) in the third quarter valued at $1,755,000. First Hawaiian Bank increased its stake in Fluor Co. (NEW) by 8.2% during the fourth quarter. First Hawaiian Bank now owns 3,948 shares of the construction company’s stock worth $127,000 after acquiring an additional 300 shares during the last quarter. Finally, Standard Life Aberdeen plc increased its stake in Fluor Co. (NEW) by 9.1% during the third quarter. Standard Life Aberdeen plc now owns 70,137 shares of the construction company’s stock worth $4,075,000 after acquiring an additional 5,823 shares during the last quarter. Hedge funds and other institutional investors own 88.27% of the company’s stock.
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Fluor Co. (NEW) Company Profile (NYSE:FLR)
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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