Canada Pension Plan Investment Board Sells 107,380 Shares of Fluor Co. (NEW) (FLR)

Canada Pension Plan Investment Board cut its holdings in Fluor Co. (NEW) (NYSE:FLR) by 44.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 132,563 shares of the construction company’s stock after selling 107,380 shares during the quarter. Canada Pension Plan Investment Board owned about 0.09% of Fluor Co. (NEW) worth $7,702,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLR. San Francisco Sentry Investment Group CA increased its stake in Fluor Co. (NEW) by 5,010.0% in the second quarter. San Francisco Sentry Investment Group CA now owns 2,044 shares of the construction company’s stock valued at $100,000 after purchasing an additional 2,004 shares during the period. Zions Bancorporation acquired a new position in Fluor Co. (NEW) in the third quarter valued at $122,000. Tower Research Capital LLC TRC acquired a new position in Fluor Co. (NEW) in the second quarter valued at $163,000. Girard Partners LTD. acquired a new position in Fluor Co. (NEW) in the third quarter valued at $203,000. Finally, Comerica Securities Inc. acquired a new position in Fluor Co. (NEW) in the third quarter valued at $206,000. Institutional investors own 87.99% of the company’s stock.

FLR has been the topic of a number of recent research reports. ValuEngine lowered shares of Fluor Co. (NEW) from a “hold” rating to a “sell” rating in a research note on Friday, November 23rd. MKM Partners set a $49.00 price target on shares of Fluor Co. (NEW) and gave the stock a “hold” rating in a research note on Friday, November 2nd. Deutsche Bank dropped their price target on shares of Fluor Co. (NEW) from $54.00 to $49.00 and set a “hold” rating on the stock in a research note on Tuesday, November 20th. Goldman Sachs Group upgraded shares of Fluor Co. (NEW) from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Thursday, October 18th. Finally, Robert W. Baird dropped their price target on shares of Fluor Co. (NEW) from $59.00 to $50.00 and set a “hold” rating on the stock in a research note on Friday, November 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Fluor Co. (NEW) has an average rating of “Hold” and a consensus price target of $58.36.

In related news, Chairman David Thomas Seaton acquired 5,158 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average price of $48.52 per share, with a total value of $250,266.16. Following the completion of the acquisition, the chairman now owns 301,400 shares in the company, valued at $14,623,928. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by insiders.

FLR stock opened at $36.53 on Friday. The stock has a market cap of $5.25 billion, a P/E ratio of 14.25, a P/E/G ratio of 0.35 and a beta of 1.64. Fluor Co. has a 52 week low of $35.65 and a 52 week high of $62.09. The company has a current ratio of 1.52, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Fluor Co. (NEW) (NYSE:FLR) last released its quarterly earnings data on Thursday, November 1st. The construction company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). The company had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Fluor Co. (NEW) had a return on equity of 11.31% and a net margin of 1.21%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. On average, equities analysts predict that Fluor Co. will post 2.54 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Tuesday, December 4th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Monday, December 3rd. Fluor Co. (NEW)’s dividend payout ratio is currently 51.53%.

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About Fluor Co. (NEW)

Fluor Corp. is a holding company engages in engineering and technology. It operates through the following segments: Energy, Chemicals & Mining, Industrial, Infrastructure & Power, Government and Diversified Services. The Energy, Chemicals & Mining Segment focuses on opportunities in the upstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas, pipeline, metals and mining markets.

See Also: Diversification

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

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