PNC Financial Services Group Inc. raised its stake in shares of Fluor Co. (NEW) (NYSE:FLR) by 23.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,845 shares of the construction company’s stock after buying an additional 9,946 shares during the period. PNC Financial Services Group Inc.’s holdings in Fluor Co. (NEW) were worth $3,011,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in FLR. San Francisco Sentry Investment Group CA raised its stake in Fluor Co. (NEW) by 5,010.0% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 2,044 shares of the construction company’s stock valued at $100,000 after buying an additional 2,004 shares during the last quarter. Zions Bancorporation purchased a new stake in Fluor Co. (NEW) during the 3rd quarter valued at $122,000. Tower Research Capital LLC TRC purchased a new stake in Fluor Co. (NEW) during the 2nd quarter valued at $163,000. Girard Partners LTD. purchased a new stake in Fluor Co. (NEW) during the 3rd quarter valued at $203,000. Finally, Comerica Securities Inc. purchased a new stake in Fluor Co. (NEW) during the 3rd quarter valued at $206,000. Institutional investors and hedge funds own 87.99% of the company’s stock.
NYSE:FLR opened at $36.53 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.52 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $5.25 billion, a PE ratio of 14.25, a P/E/G ratio of 0.35 and a beta of 1.64. Fluor Co. has a one year low of $35.65 and a one year high of $62.09.
Fluor Co. (NEW) (NYSE:FLR) last posted its quarterly earnings data 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 company had revenue of $4.66 billion during 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 company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter last year, the company earned $0.67 earnings per share. Sell-side analysts expect that Fluor Co. will post 2.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 4th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.30%. Fluor Co. (NEW)’s dividend payout ratio (DPR) is 51.53%.
FLR has been the subject of a number of research reports. 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 note on Thursday, October 18th. Citigroup set a $66.00 target price on shares of Fluor Co. (NEW) and gave the company a “buy” rating in a research note on Thursday, October 11th. ValuEngine lowered shares of Fluor Co. (NEW) from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. UBS Group set a $69.00 target price on shares of Fluor Co. (NEW) and gave the company a “buy” rating in a research note on Thursday, October 11th. Finally, Bank of America set a $67.00 target price on shares of Fluor Co. (NEW) and gave the company a “buy” rating in a research note on Thursday, October 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $58.36.
In related news, Chairman David Thomas Seaton acquired 5,158 shares of Fluor Co. (NEW) stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average cost of $48.52 per share, for a total transaction of $250,266.16. Following the purchase, the chairman now directly owns 301,400 shares of the company’s stock, valued at approximately $14,623,928. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.
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Fluor Co. (NEW) Company Profile
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.
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