Huntington National Bank cut its stake in Fluor Co. (NEW) (NYSE:FLR) by 19.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,109 shares of the construction company’s stock after selling 263 shares during the quarter. Huntington National Bank’s holdings in Fluor Co. (NEW) were worth $41,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in FLR. Semmax Financial Advisors Inc. purchased a new position in shares of Fluor Co. (NEW) in the fourth quarter valued at $33,000. Synovus Financial Corp grew its position in shares of Fluor Co. (NEW) by 542.5% in the fourth quarter. Synovus Financial Corp now owns 1,150 shares of the construction company’s stock valued at $37,000 after purchasing an additional 971 shares in the last quarter. CSat Investment Advisory L.P. grew its position in shares of Fluor Co. (NEW) by 248.9% in the fourth quarter. CSat Investment Advisory L.P. now owns 1,633 shares of the construction company’s stock valued at $53,000 after purchasing an additional 1,165 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Fluor Co. (NEW) in the fourth quarter valued at $64,000. Finally, Fort L.P. purchased a new position in shares of Fluor Co. (NEW) in the fourth quarter valued at $64,000. Institutional investors own 88.13% of the company’s stock.
Fluor Co. (NEW) stock opened at $40.71 on Thursday. Fluor Co. has a 52 week low of $29.78 and a 52 week high of $62.08. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.53 and a quick ratio of 1.10. The stock has a market cap of $5.66 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 0.86 and a beta of 1.76.
Fluor Co. (NEW) (NYSE:FLR) last posted its earnings results on Thursday, February 21st. The construction company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.16. Fluor Co. (NEW) had a return on equity of 11.98% and a net margin of 1.17%. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s revenue was down 4.5% on a year-over-year basis. As a group, equities research analysts predict that Fluor Co. will post 2.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Friday, March 1st. Fluor Co. (NEW)’s dividend payout ratio (DPR) is currently 39.07%.
In other Fluor Co. (NEW) news, insider Ray F. Barnard sold 7,515 shares of Fluor Co. (NEW) stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $37.57, for a total transaction of $282,338.55. Following the completion of the sale, the insider now owns 86,572 shares of the company’s stock, valued at $3,252,510.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jose Luis M. Bustamante sold 2,737 shares of Fluor Co. (NEW) stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $37.06, for a total value of $101,433.22. Following the sale, the executive vice president now directly owns 73,409 shares of the company’s stock, valued at approximately $2,720,537.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,570 shares of company stock valued at $506,670. Corporate insiders own 1.40% of the company’s stock.
Several brokerages have recently weighed in on FLR. ValuEngine upgraded Fluor Co. (NEW) from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 28th. Zacks Investment Research cut Fluor Co. (NEW) from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Credit Suisse Group restated a “buy” rating and set a $56.00 target price on shares of Fluor Co. (NEW) in a research report on Monday, February 11th. Finally, MKM Partners restated a “neutral” rating and set a $39.00 target price on shares of Fluor Co. (NEW) in a research report on Tuesday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Fluor Co. (NEW) has a consensus rating of “Hold” and an average price target of $54.69.
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Fluor Co. (NEW) Profile
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 four segments: Energy & Chemicals; Mining, Industrial, Infrastructure & Power; Diversified Services; and Government.
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