Great West Life Assurance Co. Can reduced its position in shares of Fluor Co. (NYSE:FLR) by 19.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 73,054 shares of the construction company’s stock after selling 17,543 shares during the quarter. Great West Life Assurance Co. Can owned 0.05% of Fluor worth $644,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in FLR. First Trust Advisors LP increased its stake in Fluor by 579.5% during the 1st quarter. First Trust Advisors LP now owns 141,476 shares of the construction company’s stock valued at $5,206,000 after purchasing an additional 120,656 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Fluor by 88.3% in the second quarter. Bank of Montreal Can now owns 51,785 shares of the construction company’s stock worth $581,000 after acquiring an additional 24,285 shares during the period. Marshall Wace LLP purchased a new position in shares of Fluor in the second quarter worth approximately $208,000. Bank of America Corp DE boosted its holdings in shares of Fluor by 32.0% in the second quarter. Bank of America Corp DE now owns 250,068 shares of the construction company’s stock worth $3,022,000 after buying an additional 60,620 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Fluor in the second quarter worth approximately $128,000. Institutional investors and hedge funds own 64.88% of the company’s stock.
FLR has been the topic of a number of research reports. ValuEngine downgraded shares of Fluor from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. Zacks Investment Research downgraded shares of Fluor from a “hold” rating to a “strong sell” rating and set a $14.00 price objective on the stock. in a report on Tuesday, December 15th. DA Davidson raised their price objective on shares of Fluor from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, December 11th. BidaskClub downgraded shares of Fluor from a “buy” rating to a “hold” rating in a report on Wednesday, December 30th. Finally, UBS Group lifted their price target on shares of Fluor from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, November 6th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Fluor currently has a consensus rating of “Hold” and a consensus price target of $11.71.
Fluor (NYSE:FLR) last released its quarterly earnings data on Thursday, December 10th. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.09). The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.96 billion. Fluor had a negative net margin of 3.63% and a positive return on equity of 10.56%. The company’s quarterly revenue was down 17.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Fluor Co. will post 0.92 earnings per share for the current fiscal year.
Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide. It operates through six segments: Energy & Chemicals; Mining & Industrial; Infrastructure & Power; Government; Diversified Services; and Other.
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