Fluor Corporation (FLR) Shares Bought by Coastline Trust Co
Coastline Trust Co grew its position in Fluor Corporation (NYSE:FLR) by 63.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,960 shares of the construction company’s stock after purchasing an additional 4,630 shares during the period. Coastline Trust Co’s holdings in Fluor were worth $504,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLR. Strs Ohio lifted its stake in shares of Fluor by 7.6% in the 2nd quarter. Strs Ohio now owns 11,949 shares of the construction company’s stock valued at $547,000 after purchasing an additional 849 shares in the last quarter. Global X Management Co. LLC lifted its stake in shares of Fluor by 50.9% in the 2nd quarter. Global X Management Co. LLC now owns 12,510 shares of the construction company’s stock valued at $573,000 after purchasing an additional 4,221 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Fluor by 6.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 793,979 shares of the construction company’s stock valued at $36,349,000 after purchasing an additional 49,332 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Fluor by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 34,660 shares of the construction company’s stock valued at $1,587,000 after purchasing an additional 200 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Fluor by 544.2% in the 2nd quarter. First Trust Advisors LP now owns 217,701 shares of the construction company’s stock valued at $9,966,000 after purchasing an additional 183,909 shares in the last quarter. 84.30% of the stock is currently owned by institutional investors and hedge funds.
Fluor Corporation (FLR) traded down $0.16 during trading on Friday, reaching $49.87. The company had a trading volume of 1,201,600 shares, compared to its average volume of 1,414,775. The firm has a market cap of $6,997.96, a price-to-earnings ratio of 18.00, a PEG ratio of 3.49 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.56 and a debt-to-equity ratio of 0.46. Fluor Corporation has a 12-month low of $37.03 and a 12-month high of $58.37.
Fluor (NYSE:FLR) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.58 by $0.09. The firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.73 billion. Fluor had a return on equity of 11.69% and a net margin of 1.03%. Fluor’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. sell-side analysts anticipate that Fluor Corporation will post 1.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Tuesday, December 5th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, December 4th. Fluor’s dividend payout ratio (DPR) is presently 58.74%.
In other Fluor news, insider Jose Luis M. Bustamante sold 2,750 shares of Fluor stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $48.63, for a total transaction of $133,732.50. Following the sale, the insider now directly owns 38,757 shares in the company, valued at approximately $1,884,752.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David Thomas Seaton sold 40,000 shares of Fluor 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 sale, the chairman now owns 276,643 shares in the company, valued at $13,159,907.51. The disclosure for this sale can be found here. Insiders have sold a total of 45,932 shares of company stock worth $2,191,092 over the last three months. 1.30% of the stock is currently owned by corporate insiders.
Several equities analysts have recently weighed in on FLR shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Fluor in a research note on Monday, November 6th. Citigroup set a $53.00 price objective on Fluor and gave the company a “buy” rating in a research note on Friday, October 27th. KeyCorp reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Fluor in a research note on Friday, September 22nd. Barclays initiated coverage on Fluor in a research note on Tuesday. They issued an “equal weight” rating and a $54.00 price objective on the stock. Finally, Robert W. Baird reissued a “hold” rating and set a $40.00 price target on shares of Fluor in a research report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.00.
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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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