Bank of Montreal Can bought a new stake in shares of Fluor Corp. (NYSE:FLR) during the second quarter, Holdings Channel reports. The institutional investor bought 123,199 shares of the company’s stock, valued at approximately $6,072,000.
Several other institutional investors have also recently added to or reduced their stakes in FLR. TIAA CREF Investment Management LLC increased its position in Fluor Corp. by 84.7% in the first quarter. TIAA CREF Investment Management LLC now owns 505,457 shares of the company’s stock valued at $27,143,000 after buying an additional 231,829 shares during the period. Riverhead Capital Management LLC increased its position in Fluor Corp. by 90.4% in the first quarter. Riverhead Capital Management LLC now owns 459,761 shares of the company’s stock valued at $24,691,000 after buying an additional 218,301 shares during the period. State Street Corp increased its position in Fluor Corp. by 1.7% in the first quarter. State Street Corp now owns 6,804,621 shares of the company’s stock valued at $365,407,000 after buying an additional 115,926 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in Fluor Corp. during the first quarter valued at $5,383,000. Finally, Peconic Partners LLC purchased a new position in Fluor Corp. during the first quarter valued at $5,379,000. Institutional investors and hedge funds own 84.36% of the company’s stock.
Fluor Corp. (NYSE:FLR) traded up 0.99% during midday trading on Monday, reaching $51.17. The company’s stock had a trading volume of 836,034 shares. The firm’s 50-day moving average price is $50.86 and its 200-day moving average price is $51.89. The stock has a market capitalization of $7.13 billion, a PE ratio of 22.38 and a beta of 1.74. Fluor Corp. has a 52 week low of $39.48 and a 52 week high of $55.69.
Fluor Corp. (NYSE:FLR) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by $0.16. The firm earned $4.86 billion during the quarter, compared to analyst estimates of $4.73 billion. Fluor Corp. had a return on equity of 15.45% and a net margin of 1.81%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. On average, analysts anticipate that Fluor Corp. will post $3.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Friday, September 2nd were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Wednesday, August 31st. Fluor Corp.’s dividend payout ratio is currently 37.00%.
Several equities analysts have recently weighed in on FLR shares. Zacks Investment Research upgraded Fluor Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Bank of America Corp. reiterated a “sell” rating and set a $50.00 price objective on shares of Fluor Corp. in a research report on Friday, August 5th. Credit Suisse Group AG reiterated an “outperform” rating and set a $62.00 price objective on shares of Fluor Corp. in a research report on Wednesday, July 6th. Janney Montgomery Scott reiterated a “buy” rating on shares of Fluor Corp. in a research report on Tuesday, August 16th. Finally, MKM Partners set a $52.00 price objective on Fluor Corp. and gave the stock a “hold” rating in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Fluor Corp. presently has a consensus rating of “Hold” and an average price target of $53.00.
Fluor Corp. Company Profile
Fluor Corporation (Fluor) is a holding company. The Company is a professional services company. The Company provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services. It operates in five segments: Oil & Gas, Industrial & Infrastructure, Government, Global Services and Power.
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