Schnieders Capital Management LLC reduced its stake in Fluor Corporation (NYSE:FLR) by 46.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,474 shares of the construction company’s stock after selling 6,375 shares during the period. Schnieders Capital Management LLC’s holdings in Fluor Corporation were worth $342,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of FLR. Thrivent Financial for Lutherans raised its position in shares of Fluor Corporation by 3.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,810 shares of the construction company’s stock worth $253,000 after buying an additional 165 shares in the last quarter. RMB Capital Management LLC bought a new position in shares of Fluor Corporation during the fourth quarter worth approximately $298,000. UBS Asset Management Americas Inc. raised its position in shares of Fluor Corporation by 6.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 699,541 shares of the construction company’s stock worth $36,741,000 after buying an additional 41,883 shares in the last quarter. Kentucky Retirement Systems bought a new position in shares of Fluor Corporation during the fourth quarter worth approximately $531,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Fluor Corporation during the fourth quarter worth approximately $237,000. 83.07% of the stock is currently owned by institutional investors.
Shares of Fluor Corporation (NYSE FLR) opened at 37.67 on Friday. Fluor Corporation has a 52 week low of $37.40 and a 52 week high of $58.37. The company’s 50 day moving average price is $43.13 and its 200-day moving average price is $48.82. The firm has a market capitalization of $5.27 billion, a PE ratio of 47.03 and a beta of 1.39.
Fluor Corporation (NYSE:FLR) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.13. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.94 billion. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. On average, equities research analysts expect that Fluor Corporation will post $1.50 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Tuesday, September 5th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.84 dividend on an annualized basis and a yield of 2.23%. Fluor Corporation’s dividend payout ratio (DPR) is 106.33%.
A number of brokerages have commented on FLR. BidaskClub upgraded Fluor Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. DA Davidson downgraded Fluor Corporation from a “buy” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $48.00 in a research report on Friday, August 4th. Zacks Investment Research downgraded Fluor Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, June 12th. Johnson Rice downgraded Fluor Corporation from a “buy” rating to an “accumulate” rating and cut their target price for the stock from $62.00 to $48.00 in a research report on Monday, August 7th. Finally, Credit Suisse Group cut their target price on Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $50.10.
About Fluor Corporation
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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