Royal London Asset Management Ltd. trimmed its position in Fluor Co. (NEW) (NYSE:FLR) by 7.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 52,828 shares of the construction company’s stock after selling 4,173 shares during the period. Royal London Asset Management Ltd.’s holdings in Fluor Co. (NEW) were worth $3,069,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in FLR. Principal Financial Group Inc. raised its holdings in Fluor Co. (NEW) by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 215,669 shares of the construction company’s stock worth $12,340,000 after purchasing an additional 3,437 shares during the period. Bank of Montreal Can bought a new position in Fluor Co. (NEW) in the 2nd quarter worth $3,687,000. Nisa Investment Advisors LLC bought a new position in Fluor Co. (NEW) in the 2nd quarter worth $2,408,000. Municipal Employees Retirement System of Michigan raised its holdings in Fluor Co. (NEW) by 238.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,230 shares of the construction company’s stock worth $596,000 after purchasing an additional 8,620 shares during the period. Finally, Cornerstone Wealth Management LLC bought a new position in Fluor Co. (NEW) in the 2nd quarter worth $220,000. Institutional investors own 85.43% of the company’s stock.
NYSE:FLR opened at $40.21 on Monday. The company has a current ratio of 1.52, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 0.58 and a beta of 1.67. Fluor Co. has a 52 week low of $40.18 and a 52 week high of $62.09.
Fluor Co. (NEW) (NYSE:FLR) last posted its quarterly earnings results on Thursday, November 1st. The construction company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.03). The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.66 billion. Fluor Co. (NEW) had a net margin of 1.21% and a return on equity of 11.31%. Fluor Co. (NEW)’s revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 earnings per share. As a group, analysts predict that Fluor Co. will post 2.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 4th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.09%. Fluor Co. (NEW)’s dividend payout ratio is presently 51.53%.
FLR has been the topic of a number of recent research reports. ValuEngine raised Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. MKM Partners set a $49.00 target price on Fluor Co. (NEW) and gave the stock a “hold” rating in a report on Friday, November 2nd. Deutsche Bank decreased their target price on Fluor Co. (NEW) from $54.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday, November 20th. TheStreet raised Fluor Co. (NEW) from a “c” rating to a “b-” rating in a report on Thursday, August 2nd. Finally, Goldman Sachs Group raised Fluor Co. (NEW) from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Thursday, October 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Fluor Co. (NEW) presently has a consensus rating of “Hold” and an average price target of $58.36.
In other Fluor Co. (NEW) news, Chairman David Thomas Seaton purchased 5,158 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were acquired at an average cost of $48.52 per share, with a total value of $250,266.16. Following the completion of the acquisition, the chairman now directly owns 301,400 shares in the company, valued at $14,623,928. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.
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About Fluor Co. (NEW)
Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. The company's Energy & Chemicals segment offers a range of design, engineering, procurement, construction, fabrication, and project management services in the upstream, midstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas and pipeline markets.
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