Jose Luis M. Bustamante Sells 2,750 Shares of Fluor Corporation (FLR) Stock

Fluor Corporation (NYSE:FLR) insider Jose Luis M. Bustamante sold 2,750 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $48.63, for a total transaction of $133,732.50. Following the sale, the insider now directly owns 38,757 shares in the company, valued at approximately $1,884,752.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Fluor Corporation (FLR) traded up $0.26 during trading on Friday, hitting $48.67. 1,100,914 shares of the stock were exchanged, compared to its average volume of 1,421,736. The firm has a market cap of $6,810.00, a PE ratio of 17.14, a price-to-earnings-growth ratio of 3.32 and a beta of 1.42. Fluor Corporation has a fifty-two week low of $37.03 and a fifty-two week high of $58.37. The company has a quick ratio of 1.18, a current ratio of 1.56 and a debt-to-equity ratio of 0.46.

Fluor (NYSE:FLR) last announced its earnings results on Thursday, November 2nd. The construction company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. The business had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.73 billion. Fluor had a net margin of 1.03% and a return on equity of 11.69%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. equities analysts expect that Fluor Corporation will post 1.56 EPS for the current year.

The firm 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 is Monday, December 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.73%. Fluor’s payout ratio is 58.74%.

FLR has been the topic of a number of research analyst reports. Johnson Rice cut shares of Fluor from a “buy” rating to an “accumulate” rating and cut their price objective for the stock from $62.00 to $48.00 in a report on Monday, August 7th. Canaccord Genuity reissued a “buy” rating and set a $54.00 price objective on shares of Fluor in a report on Monday, November 6th. KeyCorp reissued a “buy” rating and set a $50.00 price objective on shares of Fluor in a report on Friday, September 22nd. Citigroup set a $53.00 price objective on shares of Fluor and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Deutsche Bank cut shares of Fluor from a “buy” rating to a “hold” rating and cut their price objective for the stock from $55.00 to $40.00 in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $47.45.

Institutional investors have recently made changes to their positions in the company. Balentine LLC increased its holdings in shares of Fluor by 99.1% in the 3rd quarter. Balentine LLC now owns 2,799 shares of the construction company’s stock valued at $118,000 after acquiring an additional 1,393 shares during the period. Smithfield Trust Co. increased its holdings in shares of Fluor by 393.3% in the 2nd quarter. Smithfield Trust Co. now owns 3,700 shares of the construction company’s stock valued at $169,000 after acquiring an additional 2,950 shares during the period. Captrust Financial Advisors acquired a new position in shares of Fluor in the 2nd quarter valued at $169,000. State of Alaska Department of Revenue increased its holdings in shares of Fluor by 10.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,074 shares of the construction company’s stock valued at $186,000 after acquiring an additional 380 shares during the period. Finally, Greenwood Capital Associates LLC increased its stake in Fluor by 10.5% in the 2nd quarter. Greenwood Capital Associates LLC now owns 4,515 shares of the construction company’s stock valued at $207,000 after buying an additional 430 shares during the period. 84.29% of the stock is currently owned by institutional investors and hedge funds.

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About Fluor

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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