Reliance Trust Co. of Delaware decreased its stake in Fluor Corporation (NYSE:FLR) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,351 shares of the construction company’s stock after selling 261 shares during the period. Reliance Trust Co. of Delaware’s holdings in Fluor Corporation were worth $977,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Fluor Corporation by 3.6% in the first quarter. Vanguard Group Inc. now owns 13,312,237 shares of the construction company’s stock valued at $700,490,000 after buying an additional 460,481 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Fluor Corporation by 4.1% in the first quarter. Clearbridge Investments LLC now owns 12,415,798 shares of the construction company’s stock valued at $653,319,000 after buying an additional 487,187 shares during the last quarter. BlackRock Inc. increased its stake in shares of Fluor Corporation by 3,137.9% in the first quarter. BlackRock Inc. now owns 9,025,119 shares of the construction company’s stock valued at $474,903,000 after buying an additional 8,746,386 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Fluor Corporation by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,222,103 shares of the construction company’s stock valued at $116,926,000 after buying an additional 47,809 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Fluor Corporation by 12.0% in the first quarter. Boston Partners now owns 1,744,063 shares of the construction company’s stock valued at $91,773,000 after buying an additional 186,545 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fluor Corporation (FLR) opened at 37.67 on Friday. The company has a 50 day moving average price of $43.13 and a 200-day moving average price of $48.82. Fluor Corporation has a 52-week low of $37.40 and a 52-week high of $58.37. The firm has a market cap of $5.27 billion, a P/E ratio of 47.03 and a beta of 1.39.
Fluor Corporation (NYSE:FLR) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.13. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.94 billion. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. On average, analysts expect that Fluor Corporation will post $1.50 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 5th will be paid a $0.21 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.84 annualized dividend and a yield of 2.23%. Fluor Corporation’s dividend payout ratio (DPR) is 106.33%.
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FLR has been the topic of several research analyst reports. Canaccord Genuity set a $48.00 price objective on Fluor Corporation and gave the stock a “buy” rating in a research note on Sunday, August 6th. BidaskClub raised Fluor Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Credit Suisse Group dropped their price target on Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, May 5th. Deutsche Bank AG downgraded Fluor Corporation from a “buy” rating to a “hold” rating and dropped their price target for the company from $55.00 to $40.00 in a research note on Friday, August 4th. Finally, Zacks Investment Research downgraded Fluor Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Fluor Corporation has a consensus rating of “Hold” and a consensus target price 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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