State of Tennessee Treasury Department Sells 12,197 Shares of Fluor Corporation (FLR)
State of Tennessee Treasury Department trimmed its position in Fluor Corporation (NYSE:FLR) by 24.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,034 shares of the construction company’s stock after selling 12,197 shares during the quarter. State of Tennessee Treasury Department’s holdings in Fluor Corporation were worth $1,601,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Huntington National Bank boosted its stake in Fluor Corporation by 27.2% during the 2nd quarter. Huntington National Bank now owns 3,468 shares of the construction company’s stock valued at $159,000 after purchasing an additional 741 shares during the period. Captrust Financial Advisors bought a new stake in shares of Fluor Corporation in the 2nd quarter worth approximately $169,000. Smithfield Trust Co. lifted its position in shares of Fluor Corporation by 393.3% in the 2nd quarter. Smithfield Trust Co. now owns 3,700 shares of the construction company’s stock worth $169,000 after acquiring an additional 2,950 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Fluor Corporation by 10.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,074 shares of the construction company’s stock worth $186,000 after acquiring an additional 380 shares during the period. Finally, Greenwood Capital Associates LLC lifted its position in shares of Fluor Corporation by 10.5% during the 2nd quarter. Greenwood Capital Associates LLC now owns 4,515 shares of the construction company’s stock worth $207,000 after buying an additional 430 shares during the period. Hedge funds and other institutional investors own 82.30% of the company’s stock.
Shares of Fluor Corporation (FLR) opened at $47.56 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.56 and a quick ratio of 1.18. The stock has a market cap of $6,543.37, a price-to-earnings ratio of 16.83, a PEG ratio of 3.26 and a beta of 1.42. Fluor Corporation has a 52 week low of $37.03 and a 52 week high of $58.37.
Fluor Corporation (NYSE:FLR) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.09. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.73 billion. Fluor Corporation had a net margin of 1.03% and a return on equity of 11.69%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 earnings per share. research analysts anticipate that Fluor Corporation will post 1.56 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Tuesday, December 5th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.77%. Fluor Corporation’s dividend payout ratio (DPR) is presently 58.74%.
Several research analysts have weighed in on FLR shares. Canaccord Genuity set a $48.00 target price on Fluor Corporation and gave the stock a “buy” rating in a report on Sunday, August 6th. Seaport Global Securities reaffirmed a “neutral” rating and issued a $44.00 target price (down previously from $50.00) on shares of Fluor Corporation in a research report on Wednesday, October 11th. Deutsche Bank AG downgraded 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 research report on Friday, August 4th. Stephens reaffirmed an “overweight” rating and issued a $50.00 target price (up previously from $44.00) on shares of Fluor Corporation in a research report on Saturday, October 14th. Finally, Credit Suisse Group cut their target price on Fluor Corporation from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $47.45.
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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