Fluor Co. (NEW) (FLR) Stake Lowered by Fmr LLC

Fmr LLC reduced its holdings in Fluor Co. (NEW) (NYSE:FLR) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,287,935 shares of the construction company’s stock after selling 443,142 shares during the quarter. Fmr LLC owned approximately 3.76% of Fluor Co. (NEW) worth $307,229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FLR. Huber Capital Management LLC lifted its holdings in Fluor Co. (NEW) by 1.7% during the 2nd quarter. Huber Capital Management LLC now owns 80,825 shares of the construction company’s stock worth $3,943,000 after buying an additional 1,323 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Fluor Co. (NEW) during the 3rd quarter worth $933,000. Fairfax Financial Holdings Ltd Can lifted its holdings in Fluor Co. (NEW) by 16.7% during the 2nd quarter. Fairfax Financial Holdings Ltd Can now owns 35,000 shares of the construction company’s stock worth $1,707,000 after buying an additional 5,000 shares in the last quarter. Sentry Investment Management LLC lifted its holdings in Fluor Co. (NEW) by 15.7% during the 2nd quarter. Sentry Investment Management LLC now owns 8,420 shares of the construction company’s stock worth $411,000 after buying an additional 1,145 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Fluor Co. (NEW) by 62.3% during the 2nd quarter. Bank of America Corp DE now owns 2,256,406 shares of the construction company’s stock worth $110,066,000 after buying an additional 866,355 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Fluor Co. (NEW) stock opened at $40.93 on Monday. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 0.59 and a beta of 1.65. Fluor Co. has a 52 week low of $40.14 and a 52 week high of $62.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.52 and a quick ratio of 1.12.

Fluor Co. (NEW) (NYSE:FLR) last issued its earnings results on Thursday, November 1st. The construction company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.66 billion. Fluor Co. (NEW) had a net margin of 1.21% and a return on equity of 11.31%. The business’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. As a group, sell-side analysts forecast that Fluor Co. will post 2.54 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 4th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, December 3rd. Fluor Co. (NEW)’s payout ratio is 51.53%.

In other news, Chairman David Thomas Seaton acquired 5,158 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average price of $48.52 per share, for a total transaction of $250,266.16. Following the transaction, the chairman now directly owns 301,400 shares in the company, valued at $14,623,928. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Several research analysts have issued reports on FLR shares. Citigroup set a $66.00 price objective on Fluor Co. (NEW) and gave the stock a “buy” rating in a report on Thursday, October 11th. Bank of America set a $67.00 price objective on Fluor Co. (NEW) and gave the stock a “buy” rating in a report on Thursday, October 11th. UBS Group set a $69.00 price objective on Fluor Co. (NEW) and gave the stock a “buy” rating in a report on Thursday, October 11th. Goldman Sachs Group upgraded shares of Fluor Co. (NEW) from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Thursday, October 18th. Finally, Canaccord Genuity upgraded shares of Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $58.36.

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Fluor Co. (NEW) Profile

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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