Fluor Co. (NEW) (NYSE:FLR) Short Interest Update

Fluor Co. (NEW) (NYSE:FLR) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 7,760,000 shares, a decline of 12.2% from the September 30th total of 8,840,000 shares. Currently, 5.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,590,000 shares, the short-interest ratio is currently 3.0 days.

A number of brokerages have issued reports on FLR. Citigroup lowered their target price on Fluor Co. (NEW) from $25.00 to $23.00 and set a “buy” rating for the company in a report on Friday, November 1st. Credit Suisse Group lowered their target price on Fluor Co. (NEW) from $31.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Canaccord Genuity raised Fluor Co. (NEW) from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Thursday, August 22nd. ValuEngine raised Fluor Co. (NEW) from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, TheStreet cut Fluor Co. (NEW) from a “c” rating to a “d+” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Fluor Co. (NEW) currently has a consensus rating of “Hold” and an average target price of $27.70.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLR. Morgan Stanley grew its position in shares of Fluor Co. (NEW) by 1,555.7% in the 2nd quarter. Morgan Stanley now owns 4,428,088 shares of the construction company’s stock valued at $149,183,000 after buying an additional 4,160,639 shares during the last quarter. BlackRock Inc. grew its position in shares of Fluor Co. (NEW) by 31.3% in the 2nd quarter. BlackRock Inc. now owns 14,151,867 shares of the construction company’s stock valued at $476,776,000 after buying an additional 3,375,108 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Fluor Co. (NEW) by 39.3% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,864,553 shares of the construction company’s stock valued at $197,577,000 after buying an additional 1,655,100 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Fluor Co. (NEW) by 2,152.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,056,043 shares of the construction company’s stock valued at $35,578,000 after buying an additional 1,009,149 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of Fluor Co. (NEW) by 104.4% in the 2nd quarter. Prudential Financial Inc. now owns 1,811,965 shares of the construction company’s stock valued at $61,045,000 after buying an additional 925,489 shares during the last quarter. Hedge funds and other institutional investors own 89.55% of the company’s stock.

Shares of NYSE FLR traded up $0.09 during trading on Friday, reaching $18.29. The company had a trading volume of 1,271,120 shares, compared to its average volume of 2,552,832. The company’s fifty day moving average price is $18.76 and its 200-day moving average price is $24.87. Fluor Co. has a 12 month low of $16.00 and a 12 month high of $46.97. The stock has a market cap of $2.50 billion, a P/E ratio of 8.51 and a beta of 2.17. The company has a quick ratio of 1.12, a current ratio of 1.38 and a debt-to-equity ratio of 0.97.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, December 4th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.19%. Fluor Co. (NEW)’s dividend payout ratio (DPR) is presently 39.07%.

Fluor Co. (NEW) Company Profile

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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