Mission Wealth Management LP Buys 1,200 Shares of Fluor Co. (NEW) (FLR)

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Mission Wealth Management LP raised its stake in shares of Fluor Co. (NEW) (NYSE:FLR) by 30.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,100 shares of the construction company’s stock after buying an additional 1,200 shares during the period. Mission Wealth Management LP’s holdings in Fluor Co. (NEW) were worth $249,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership raised its stake in shares of Fluor Co. (NEW) by 2.4% during the 1st quarter. Artisan Partners Limited Partnership now owns 5,329,940 shares of the construction company’s stock valued at $304,979,000 after buying an additional 123,529 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Fluor Co. (NEW) by 11.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,738,292 shares of the construction company’s stock valued at $231,133,000 after buying an additional 475,286 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Fluor Co. (NEW) by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,055,966 shares of the construction company’s stock valued at $117,642,000 after buying an additional 12,484 shares during the last quarter. Boston Partners raised its stake in shares of Fluor Co. (NEW) by 2.5% during the 2nd quarter. Boston Partners now owns 1,983,921 shares of the construction company’s stock valued at $96,776,000 after buying an additional 47,578 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its stake in shares of Fluor Co. (NEW) by 111.9% during the 1st quarter. OppenheimerFunds Inc. now owns 1,719,912 shares of the construction company’s stock valued at $98,414,000 after buying an additional 908,181 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

FLR stock opened at $56.82 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.45. Fluor Co. has a 12-month low of $37.03 and a 12-month high of $62.09. The stock has a market capitalization of $7.83 billion, a P/E ratio of 34.86, a PEG ratio of 0.71 and a beta of 1.40.

Fluor Co. (NEW) (NYSE:FLR) last posted its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.11. Fluor Co. (NEW) had a return on equity of 11.63% and a net margin of 1.28%. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.58 billion. During the same period in the previous year, the firm posted $0.72 EPS. Fluor Co. (NEW)’s revenue was up 3.6% compared to the same quarter last year. analysts expect that Fluor Co. will post 2.96 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Tuesday, September 4th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Friday, August 31st. Fluor Co. (NEW)’s payout ratio is 51.53%.

A number of research firms have recently commented on FLR. Canaccord Genuity upgraded Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research cut Fluor Co. (NEW) from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. ValuEngine upgraded Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. MKM Partners dropped their target price on Fluor Co. (NEW) to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 8th. Finally, DA Davidson dropped their target price on Fluor Co. (NEW) from $63.00 to $52.00 and set a “neutral” rating on the stock in a research report on Friday, May 4th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $56.29.

About Fluor Co. (NEW)

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. The company's Energy & Chemicals segment offers a range of design, engineering, procurement, construction, fabrication, and project management services in the upstream, midstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas and pipeline markets.

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Institutional Ownership by Quarter for Fluor Co. (NEW) (NYSE:FLR)

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