Oppenheimer & Co. Inc. bought a new stake in Fluor Co. (NEW) (NYSE:FLR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,407 shares of the construction company’s stock, valued at approximately $279,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of FLR. Balentine LLC raised its stake in Fluor Co. (NEW) by 99.1% during the 3rd quarter. Balentine LLC now owns 2,799 shares of the construction company’s stock valued at $118,000 after acquiring an additional 1,393 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Fluor Co. (NEW) during the 4th quarter valued at approximately $135,000. Fort Pitt Capital Group LLC purchased a new stake in Fluor Co. (NEW) during the 4th quarter valued at approximately $202,000. Cadence Capital Management LLC purchased a new stake in Fluor Co. (NEW) during the 4th quarter valued at approximately $203,000. Finally, Raymond James Trust N.A. purchased a new stake in Fluor Co. (NEW) during the 4th quarter valued at approximately $214,000. 91.76% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Bruce A. Stanski sold 2,792 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $48.48, for a total value of $135,356.16. Following the completion of the transaction, the chief financial officer now directly owns 40,104 shares of the company’s stock, valued at approximately $1,944,241.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jose Luis M. Bustamante sold 2,750 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were 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. Insiders sold a total of 11,485 shares of company stock valued at $607,534 over the last ninety days. 1.30% of the stock is currently owned by company insiders.
Several research firms have commented on FLR. TheStreet raised Fluor Co. (NEW) from a “c+” rating to a “b” rating in a research note on Thursday, December 21st. Canaccord Genuity reaffirmed a “buy” rating and set a $64.00 price objective on shares of Fluor Co. (NEW) in a research note on Wednesday. Alembic Global Advisors reissued a “hold” rating on shares of Fluor Co. (NEW) in a research note on Wednesday. Zacks Investment Research raised Fluor Co. (NEW) from a “hold” rating to a “strong-buy” rating and set a $66.00 target price for the company in a research note on Friday. Finally, Citigroup increased their target price on Fluor Co. (NEW) from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $57.64.
Fluor Co. (FLR) opened at $58.15 on Friday. The stock has a market capitalization of $8,135.59, a P/E ratio of 21.86, a PEG ratio of 1.06 and a beta of 1.53. Fluor Co. has a one year low of $37.04 and a one year high of $62.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.18 and a current ratio of 1.57.
Fluor Co. (NEW) (NYSE:FLR) last released its quarterly earnings data on Tuesday, February 20th. The construction company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Fluor Co. (NEW) had a return on equity of 10.95% and a net margin of 0.98%. The firm had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.91 billion. During the same period last year, the business posted $0.82 EPS. Fluor Co. (NEW)’s quarterly revenue was up .8% on a year-over-year basis. research analysts anticipate that Fluor Co. will post 3.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Thursday, March 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, February 28th. Fluor Co. (NEW)’s payout ratio is currently 61.76%.
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About Fluor Co. (NEW)
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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