CIBC Asset Management Inc raised its stake in Fluor Corporation (NYSE:FLR) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 13,224 shares of the construction company’s stock after buying an additional 43 shares during the period. CIBC Asset Management Inc’s holdings in Fluor Corporation were worth $605,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Harbour Capital Advisors LLC purchased a new stake in shares of Fluor Corporation during the first quarter worth approximately $124,000. Huntington National Bank boosted 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. purchased a new stake in shares of Fluor Corporation during the first quarter worth approximately $175,000. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Fluor Corporation by 3.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,714 shares of the construction company’s stock worth $183,000 after buying an additional 122 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Fluor Corporation by 10.3% in the second quarter. State of Alaska Department of Revenue now owns 4,074 shares of the construction company’s stock worth $186,000 after buying an additional 380 shares during the period. 83.07% of the stock is currently owned by institutional investors.
Shares of Fluor Corporation (NYSE FLR) opened at 39.28 on Tuesday. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 49.04 and a beta of 1.39. The company has a 50 day moving average of $43.92 and a 200-day moving average of $49.24. Fluor Corporation has a 12-month low of $38.42 and a 12-month high of $58.37.
Fluor Corporation (NYSE:FLR) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Fluor Corporation’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts predict that Fluor Corporation will post $1.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Tuesday, September 5th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, August 31st. Fluor Corporation’s payout ratio is currently 106.33%.
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FLR has been the topic of a number of research analyst reports. Johnson Rice cut shares of Fluor Corporation from a “buy” rating to an “accumulate” rating and cut their price target for the company from $62.00 to $48.00 in a research report on Monday, August 7th. DA Davidson raised shares of Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Thursday, June 1st. Canaccord Genuity raised shares of Fluor Corporation from a “hold” rating to a “buy” rating and cut their price target for the company from $57.00 to $55.00 in a research report on Monday, May 15th. Zacks Investment Research raised shares of Fluor Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Monday, May 1st. Finally, Credit Suisse Group set a $59.00 price target on shares of Fluor Corporation and gave the company a “hold” rating in a research report on Saturday, April 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Fluor Corporation has a consensus 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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