Dimensional Fund Advisors LP lifted its stake in shares of Fluor Corporation (NYSE:FLR) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,385,281 shares of the construction company’s stock after acquiring an additional 90,626 shares during the quarter. Dimensional Fund Advisors LP owned about 1.71% of Fluor worth $100,421,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CI Global Investments Inc. boosted its stake in Fluor by 66.8% during the 2nd quarter. CI Global Investments Inc. now owns 4,721,828 shares of the construction company’s stock valued at $216,165,000 after purchasing an additional 1,890,300 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in Fluor during the 3rd quarter valued at approximately $57,365,000. Becker Capital Management Inc. bought a new stake in Fluor during the 3rd quarter valued at approximately $26,858,000. Janus Henderson Group PLC boosted its stake in Fluor by 4,064.5% during the 2nd quarter. Janus Henderson Group PLC now owns 577,992 shares of the construction company’s stock valued at $26,460,000 after purchasing an additional 564,113 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC boosted its stake in Fluor by 1,807.7% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 537,369 shares of the construction company’s stock valued at $26,482,000 after purchasing an additional 509,200 shares during the period. Institutional investors own 84.15% of the company’s stock.
In other news, Chairman David Thomas Seaton sold 40,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $47.57, for a total value of $1,902,800.00. Following the completion of the transaction, the chairman now directly owns 276,643 shares of the company’s stock, valued at approximately $13,159,907.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jose Luis M. Bustamante sold 2,750 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $48.63, for a total value of $133,732.50. Following the completion of the transaction, the insider now directly owns 38,757 shares of the company’s stock, valued at $1,884,752.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,932 shares of company stock valued at $2,191,092. 1.30% of the stock is currently owned by insiders.
Fluor (NYSE:FLR) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.09. Fluor had a return on equity of 11.69% and a net margin of 1.03%. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same quarter last year, the company earned $0.03 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. sell-side analysts expect that Fluor Corporation will post 1.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 5th will be given a $0.21 dividend. The ex-dividend date is Monday, December 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.66%. Fluor’s dividend payout ratio is currently 58.74%.
Several analysts recently weighed in on the company. Barclays assumed coverage on Fluor in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $54.00 target price for the company. Zacks Investment Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Canaccord Genuity restated a “buy” rating and set a $54.00 target price on shares of Fluor in a research note on Monday, November 6th. UBS increased their target price on Fluor from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Finally, Robert W. Baird increased their target price on Fluor from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Fluor has an average rating of “Hold” and a consensus target price of $48.00.
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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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