BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in shares of Fluor Co. (NEW) (NYSE:FLR) by 35.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,721 shares of the construction company’s stock after selling 45,030 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.06% of Fluor Co. (NEW) worth $2,664,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of FLR. Synovus Financial Corp increased its holdings in Fluor Co. (NEW) by 542.5% during the 4th quarter. Synovus Financial Corp now owns 1,150 shares of the construction company’s stock worth $37,000 after purchasing an additional 971 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Fluor Co. (NEW) during the 4th quarter worth about $64,000. Oregon Public Employees Retirement Fund increased its holdings in Fluor Co. (NEW) by 2,214.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,326,643 shares of the construction company’s stock worth $72,000 after purchasing an additional 2,226,117 shares during the period. We Are One Seven LLC purchased a new stake in Fluor Co. (NEW) during the 4th quarter worth about $73,000. Finally, Penserra Capital Management LLC increased its holdings in Fluor Co. (NEW) by 163.3% during the 4th quarter. Penserra Capital Management LLC now owns 3,712 shares of the construction company’s stock worth $118,000 after purchasing an additional 2,302 shares during the period. Institutional investors own 88.05% of the company’s stock.
Several equities research analysts have weighed in on the company. ValuEngine upgraded Fluor Co. (NEW) from a “strong sell” rating to a “sell” rating in a report on Thursday, February 28th. Zacks Investment Research downgraded Fluor Co. (NEW) from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Credit Suisse Group reiterated a “buy” rating and issued a $56.00 price objective on shares of Fluor Co. (NEW) in a report on Monday, February 11th. Goldman Sachs Group downgraded Fluor Co. (NEW) from a “conviction-buy” rating to a “buy” rating and dropped their price objective for the company from $59.00 to $44.00 in a report on Wednesday, December 12th. Finally, MKM Partners reiterated a “neutral” rating and issued a $39.00 price objective on shares of Fluor Co. (NEW) in a report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $54.69.
FLR opened at $37.74 on Friday. Fluor Co. has a one year low of $29.78 and a one year high of $62.08. The stock has a market capitalization of $5.27 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 0.80 and a beta of 1.76. The company has a current ratio of 1.53, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.
Fluor Co. (NEW) (NYSE:FLR) last released its quarterly earnings data on Thursday, February 21st. The construction company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the business posted $0.70 EPS. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, research analysts expect that Fluor Co. will post 2.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Monday, March 4th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, March 1st. This represents a $0.84 dividend on an annualized basis and a yield of 2.23%. Fluor Co. (NEW)’s dividend payout ratio is presently 39.07%.
In related news, insider Ray F. Barnard sold 3,318 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $37.04, for a total transaction of $122,898.72. Following the transaction, the insider now owns 75,739 shares in the company, valued at approximately $2,805,372.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jose Luis M. Bustamante sold 2,737 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $37.06, for a total value of $101,433.22. Following the transaction, the executive vice president now owns 73,409 shares in the company, valued at approximately $2,720,537.54. The disclosure for this sale can be found here. Insiders have sold a total of 13,570 shares of company stock worth $506,670 in the last 90 days. 1.40% of the stock is currently owned by company insiders.
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About Fluor Co. (NEW)
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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