Fluor Corporation (FLR) Stake Raised by Neuberger Berman Group LLC
Neuberger Berman Group LLC lifted its position in Fluor Corporation (NYSE:FLR) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,367 shares of the construction company’s stock after buying an additional 625 shares during the quarter. Neuberger Berman Group LLC’s holdings in Fluor Corporation were worth $1,390,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Strs Ohio raised its stake in Fluor Corporation by 1.5% in the first quarter. Strs Ohio now owns 11,100 shares of the construction company’s stock valued at $584,000 after purchasing an additional 166 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Fluor Corporation by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 1,303,504 shares of the construction company’s stock valued at $68,590,000 after purchasing an additional 17,239 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in Fluor Corporation by 21.3% in the first quarter. Pictet Asset Management Ltd. now owns 87,760 shares of the construction company’s stock valued at $4,618,000 after purchasing an additional 15,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Fluor Corporation by 9.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,798 shares of the construction company’s stock valued at $1,515,000 after purchasing an additional 2,481 shares in the last quarter. Finally, World Asset Management Inc raised its stake in Fluor Corporation by 11.2% in the first quarter. World Asset Management Inc now owns 13,783 shares of the construction company’s stock valued at $725,000 after purchasing an additional 1,383 shares in the last quarter. 84.51% of the stock is currently owned by hedge funds and other institutional investors.
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A number of equities research analysts recently weighed in on FLR shares. Johnson Rice downgraded shares of Fluor Corporation from a “buy” rating to an “accumulate” rating and lowered their target price for the company from $62.00 to $48.00 in a research note on Monday, August 7th. Canaccord Genuity set a $48.00 target price on shares of Fluor Corporation and gave the company a “buy” rating in a research note on Sunday, August 6th. DA Davidson raised shares of Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Thursday, June 1st. Robert W. Baird reaffirmed a “hold” rating and issued a $40.00 target price on shares of Fluor Corporation in a research note on Tuesday, September 5th. Finally, Deutsche Bank AG downgraded shares of Fluor Corporation from a “buy” rating to a “hold” rating and lowered their target price for the company from $55.00 to $40.00 in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.18.
Fluor Corporation (FLR) opened at 40.43 on Monday. The firm’s 50-day moving average is $39.47 and its 200-day moving average is $46.46. Fluor Corporation has a 12 month low of $37.04 and a 12 month high of $58.37. The company has a market capitalization of $5.66 billion, a PE ratio of 50.47 and a beta of 1.41.
Fluor Corporation (NYSE:FLR) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.13. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. Equities analysts anticipate that Fluor Corporation will post $1.50 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.08%. Fluor Corporation’s dividend payout ratio (DPR) is 106.33%.
Fluor Corporation Company Profile
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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