Fluor Corporation (FLR) Stake Lifted by Advisor Group Inc.
Advisor Group Inc. lifted its holdings in shares of Fluor Corporation (NYSE:FLR) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,364 shares of the construction company’s stock after purchasing an additional 1,123 shares during the quarter. Advisor Group Inc.’s holdings in Fluor Corporation were worth $520,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of FLR. CI Global Investments Inc. boosted its stake in Fluor Corporation by 66.8% in 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 in the last quarter. Becker Capital Management Inc. purchased a new stake in Fluor Corporation in the third quarter worth approximately $26,858,000. Janus Henderson Group PLC boosted its stake in Fluor Corporation by 4,064.5% in 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 in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in Fluor Corporation by 1,807.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 537,369 shares of the construction company’s stock worth $26,482,000 after buying an additional 509,200 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Fluor Corporation by 4.7% in the second quarter. BlackRock Inc. now owns 9,447,760 shares of the construction company’s stock worth $432,519,000 after buying an additional 422,641 shares in the last quarter. 82.30% of the stock is owned by institutional investors.
In other Fluor Corporation news, Chairman David Thomas Seaton sold 40,000 shares of the stock in a transaction 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 transaction, the chairman now owns 276,643 shares in the company, valued at $13,159,907.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.
FLR has been the subject of several research reports. Deutsche Bank AG lowered Fluor Corporation from a “buy” rating to a “hold” rating and cut their target price for the stock from $55.00 to $40.00 in a research note on Friday, August 4th. DA Davidson downgraded Fluor Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $55.00 to $48.00 in a research report on Friday, August 4th. Canaccord Genuity set a $48.00 price objective on Fluor Corporation and gave the company a “buy” rating in a research report on Sunday, August 6th. Johnson Rice downgraded Fluor Corporation from a “buy” rating to an “accumulate” rating and lowered their price objective for the company from $62.00 to $48.00 in a research report on Monday, August 7th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $40.00 price objective on shares of Fluor Corporation in a research report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Fluor Corporation presently has a consensus rating of “Hold” and a consensus target price of $47.45.
Fluor Corporation (FLR) opened at $46.89 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.18 and a current ratio of 1.56. The company has a market capitalization of $6,610.51, a P/E ratio of 17.00, a P/E/G ratio of 3.29 and a beta of 1.42. Fluor Corporation has a twelve month low of $37.03 and a twelve month high of $58.37.
Fluor Corporation (NYSE:FLR) last posted its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 Corporation had a return on equity of 11.69% and a net margin of 1.03%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. research analysts expect that Fluor Corporation will post 1.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 5th will be issued a $0.21 dividend. The ex-dividend date is Monday, December 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.79%. Fluor Corporation’s dividend payout ratio (DPR) is 58.74%.
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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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