Fluor Corporation (NYSE:FLR) Shares Sold by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. lowered its position in Fluor Corporation (NYSE:FLR) by 87.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,000 shares of the construction company’s stock after selling 174,200 shares during the period. Daiwa Securities Group Inc.’s holdings in Fluor Corporation were worth $1,099,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Karp Capital Management Corp acquired a new position in Fluor Corporation during the first quarter worth approximately $3,862,000. Heritage Investors Management Corp boosted its position in Fluor Corporation by 2.3% in the first quarter. Heritage Investors Management Corp now owns 254,768 shares of the construction company’s stock worth $13,406,000 after buying an additional 5,673 shares during the period. OppenheimerFunds Inc. boosted its position in Fluor Corporation by 14.9% in the first quarter. OppenheimerFunds Inc. now owns 45,801 shares of the construction company’s stock worth $2,410,000 after buying an additional 5,948 shares during the period. Toronto Dominion Bank boosted its position in Fluor Corporation by 54.5% in the first quarter. Toronto Dominion Bank now owns 38,306 shares of the construction company’s stock worth $2,015,000 after buying an additional 13,516 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in Fluor Corporation by 10.4% in the first quarter. Neuberger Berman Group LLC now owns 29,742 shares of the construction company’s stock worth $1,565,000 after buying an additional 2,796 shares during the period. 82.77% of the stock is owned by institutional investors.
Fluor Corporation (FLR) opened at 38.81 on Friday. Fluor Corporation has a one year low of $38.42 and a one year high of $58.37. The firm has a 50-day moving average price of $44.19 and a 200-day moving average price of $49.56. The firm has a market cap of $5.43 billion, a PE ratio of 48.45 and a beta of 1.39.
Fluor Corporation (NYSE:FLR) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.13. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts expect that Fluor Corporation will post $1.50 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 5th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.84 dividend on an annualized basis and a yield of 2.16%. Fluor Corporation’s payout ratio is 106.33%.
FLR has been the subject of a number of research analyst reports. Deutsche Bank AG cut Fluor Corporation from a “buy” rating to a “hold” rating and lowered their price target for the stock from $55.00 to $40.00 in a report on Friday, August 4th. Credit Suisse Group lowered their price target on Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating for the company in a report on Monday, May 15th. Canaccord Genuity raised Fluor Corporation from a “hold” rating to a “buy” rating and lowered their price target for the stock from $57.00 to $55.00 in a report on Monday, May 15th. Zacks Investment Research cut Fluor Corporation from a “buy” rating to a “hold” rating in a report on Monday, May 8th. Finally, BidaskClub raised Fluor Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $50.10.
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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