Fluor Corporation (FLR) Stake Increased by Victory Capital Management Inc.
Victory Capital Management Inc. raised its stake in Fluor Corporation (NYSE:FLR) by 624.5% during the first quarter, Holdings Channel reports. The firm owned 18,961 shares of the construction company’s stock after buying an additional 16,344 shares during the period. Victory Capital Management Inc.’s holdings in Fluor Corporation were worth $998,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Fluor Corporation during the fourth quarter valued at about $74,963,000. Asset Management One Co. Ltd. boosted its stake in Fluor Corporation by 1,765.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 224,653 shares of the construction company’s stock valued at $11,798,000 after buying an additional 212,609 shares during the period. Boston Partners boosted its stake in Fluor Corporation by 12.0% in the first quarter. Boston Partners now owns 1,744,063 shares of the construction company’s stock valued at $91,773,000 after buying an additional 186,545 shares during the period. Daiwa Securities Group Inc. boosted its stake in Fluor Corporation by 1,466.8% in the first quarter. Daiwa Securities Group Inc. now owns 198,200 shares of the construction company’s stock valued at $10,429,000 after buying an additional 185,550 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Fluor Corporation by 268.8% in the first quarter. Russell Investments Group Ltd. now owns 228,013 shares of the construction company’s stock valued at $11,999,000 after buying an additional 166,189 shares during the period. 83.27% of the stock is owned by institutional investors.
Fluor Corporation (NYSE:FLR) opened at 44.00 on Friday. The company’s 50-day moving average price is $46.48 and its 200 day moving average price is $52.02. Fluor Corporation has a 1-year low of $43.71 and a 1-year high of $58.37. The firm has a market capitalization of $6.15 billion, a PE ratio of 26.04 and a beta of 1.42.
Fluor Corporation (NYSE:FLR) last issued its earnings results on Thursday, May 4th. The construction company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.67 by $0.10. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Fluor Corporation had a return on equity of 13.89% and a net margin of 1.22%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. On average, equities analysts anticipate that Fluor Corporation will post $2.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Friday, June 2nd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, May 31st. Fluor Corporation’s dividend payout ratio (DPR) is currently 50.00%.
FLR has been the subject of several recent analyst reports. Zacks Investment Research cut Fluor Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, June 12th. Canaccord Genuity raised Fluor Corporation from a “hold” rating to a “buy” rating and cut their target price for the stock from $57.00 to $55.00 in a research note on Monday, May 15th. BidaskClub raised Fluor Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. DA Davidson raised Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Thursday, June 1st. Finally, Credit Suisse Group dropped their price objective on Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $54.91.
About Fluor Corporation
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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