Bank of The West raised its position in shares of Fluor Corporation (NYSE:FLR) by 53.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,500 shares of the construction company’s stock after buying an additional 3,300 shares during the period. Bank of The West’s holdings in Fluor Corporation were worth $435,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Harbour Capital Advisors LLC acquired a new stake in shares of Fluor Corporation during the first quarter worth $124,000. Huntington National Bank raised its stake in shares of Fluor Corporation by 24.2% in the first quarter. Huntington National Bank now owns 2,727 shares of the construction company’s stock worth $143,000 after buying an additional 531 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Fluor Corporation during the first quarter worth $175,000. FNY Partners Fund LP acquired a new stake in shares of Fluor Corporation during the first quarter worth $189,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Fluor Corporation during the first quarter worth $194,000. Institutional investors own 83.25% of the company’s stock.
Fluor Corporation (NYSE:FLR) opened at 45.48 on Thursday. The firm’s 50-day moving average price is $45.48 and its 200-day moving average price is $51.53. Fluor Corporation has a one year low of $43.65 and a one year high of $58.37. The company has a market cap of $6.36 billion, a PE ratio of 26.91 and a beta of 1.41.
Fluor Corporation (NYSE:FLR) last issued its quarterly earnings results on Thursday, May 4th. The construction company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.67 by $0.10. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.83 billion. Fluor Corporation had a net margin of 1.22% and a return on equity of 13.89%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. 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 was paid on Wednesday, July 5th. Stockholders of record on Friday, June 2nd were paid a $0.21 dividend. The ex-dividend date was Wednesday, May 31st. This represents a $0.84 annualized dividend and a dividend yield of 1.85%. Fluor Corporation’s payout ratio is 50.00%.
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A number of analysts have recently weighed in on the company. BidaskClub lowered Fluor Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Credit Suisse Group set a $59.00 target price on Fluor Corporation and gave the company a “hold” rating in a research note on Saturday, April 22nd. Canaccord Genuity upgraded Fluor Corporation from a “hold” rating to a “buy” rating and lowered their target price for the company from $57.00 to $55.00 in a research note on Monday, May 8th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Fluor Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Monday, May 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $54.91.
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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