State Street Corp decreased its stake in Fluor Corporation (NYSE:FLR) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,269,450 shares of the construction company’s stock after selling 50,625 shares during the period. State Street Corp owned about 4.49% of Fluor Corporation worth $329,909,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of FLR. Vanguard Group Inc. raised 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. BlackRock Inc. raised 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 position in 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 period. Boston Partners increased its position in 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 period. Finally, Norges Bank purchased a new position in Fluor Corporation during the fourth quarter valued at about $74,963,000. Institutional investors own 83.27% of the company’s stock.
Shares of Fluor Corporation (NYSE FLR) traded down 1.4596% on Tuesday, reaching $44.7275. 677,815 shares of the company traded hands. The firm has a 50-day moving average of $46.66 and a 200-day moving average of $52.08. The company has a market capitalization of $6.25 billion, a PE ratio of 26.4660 and a beta of 1.42. Fluor Corporation has a 52-week low of $44.02 and a 52-week high of $58.37.
Fluor Corporation (NYSE:FLR) last released its quarterly earnings results on Thursday, May 4th. The construction company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.10. Fluor Corporation had a net margin of 1.22% and a return on equity of 13.89%. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter last year, the business earned $0.75 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that Fluor Corporation will post $2.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Friday, June 2nd will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.85%. Fluor Corporation’s dividend payout ratio (DPR) is 50.00%.
Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Fluor Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, June 12th. Citigroup Inc. reaffirmed a “buy” rating and set a $65.00 price target on shares of Fluor Corporation in a research note on Monday, March 13th. Credit Suisse Group cut their price target on Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, May 15th. Canaccord Genuity raised Fluor Corporation from a “hold” rating to a “buy” rating and cut their price target for the stock from $57.00 to $55.00 in a research note on Monday, May 15th. Finally, DA Davidson raised Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $54.91.
Fluor Corporation Company Profile
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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