Fluor Co. (NEW) (FLR) Downgraded to Neutral at Goldman Sachs Group

Goldman Sachs Group lowered shares of Fluor Co. (NEW) (NYSE:FLR) from a buy rating to a neutral rating in a research report released on Tuesday, BenzingaRatingsTable reports. They currently have $28.00 price target on the construction company’s stock, down from their previous price target of $44.00.

A number of other equities research analysts have also recently weighed in on the company. Citigroup reduced their price objective on Fluor Co. (NEW) from $56.00 to $37.00 and set a buy rating for the company in a research note on Friday, May 3rd. Macquarie upgraded Fluor Co. (NEW) from a neutral rating to an outperform rating in a research note on Friday, May 3rd. ValuEngine cut Fluor Co. (NEW) from a sell rating to a strong sell rating in a research note on Friday, May 3rd. Zacks Investment Research cut Fluor Co. (NEW) from a hold rating to a strong sell rating in a research note on Tuesday, April 23rd. Finally, MKM Partners set a $39.00 price target on Fluor Co. (NEW) and gave the stock a hold rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $46.45.

Shares of NYSE FLR opened at $30.73 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.04. Fluor Co. has a twelve month low of $28.00 and a twelve month high of $60.60. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.39 and a beta of 1.77.

Fluor Co. (NEW) (NYSE:FLR) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.68). Fluor Co. (NEW) had a net margin of 0.99% and a return on equity of 8.90%. The firm had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the firm posted $0.56 EPS. Fluor Co. (NEW)’s quarterly revenue was down 13.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fluor Co. will post 1.66 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, May 31st. Fluor Co. (NEW)’s dividend payout ratio (DPR) is presently 39.07%.

In other news, insider Ray F. Barnard sold 7,515 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $37.57, for a total transaction of $282,338.55. Following the completion of the sale, the insider now owns 86,572 shares in the company, valued at $3,252,510.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ray F. Barnard sold 3,318 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $37.04, for a total value of $122,898.72. Following the sale, the insider now owns 75,739 shares of the company’s stock, valued at approximately $2,805,372.56. The disclosure for this sale can be found here. Insiders have sold 13,570 shares of company stock valued at $506,670 in the last 90 days. Company insiders own 1.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. First Hawaiian Bank grew its holdings in Fluor Co. (NEW) by 8.2% in the fourth quarter. First Hawaiian Bank now owns 3,948 shares of the construction company’s stock valued at $127,000 after purchasing an additional 300 shares during the last quarter. First Manhattan Co. boosted its stake in shares of Fluor Co. (NEW) by 51.2% during the first quarter. First Manhattan Co. now owns 909 shares of the construction company’s stock valued at $33,000 after acquiring an additional 308 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Fluor Co. (NEW) by 34.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,498 shares of the construction company’s stock valued at $55,000 after acquiring an additional 381 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Fluor Co. (NEW) by 3.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 12,289 shares of the construction company’s stock valued at $452,000 after acquiring an additional 431 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC boosted its stake in shares of Fluor Co. (NEW) by 50.8% during the first quarter. YorkBridge Wealth Partners LLC now owns 1,292 shares of the construction company’s stock valued at $48,000 after acquiring an additional 435 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

About Fluor Co. (NEW)

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide. It operates through four segments: Energy & Chemicals; Mining, Industrial, Infrastructure & Power; Diversified Services; and Government.

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Analyst Recommendations for Fluor Co. (NEW) (NYSE:FLR)

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