Harbour Capital Advisors LLC acquired a new position in Fluor Corporation (NYSE:FLR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,355 shares of the construction company’s stock, valued at approximately $124,000.
A number of other institutional investors also recently added to or reduced their stakes in FLR. Huntington National Bank raised its position in shares of Fluor Corporation by 24.2% in the first quarter. Huntington National Bank now owns 2,727 shares of the construction company’s stock valued at $143,000 after buying an additional 531 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Fluor Corporation during the first quarter valued at about $175,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of Fluor Corporation by 3.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,714 shares of the construction company’s stock valued at $183,000 after buying an additional 122 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Fluor Corporation during the first quarter valued at $194,000. Finally, Alambic Investment Management L.P. bought a new stake in shares of Fluor Corporation during the first quarter valued at $204,000. 83.25% of the stock is currently owned by institutional investors.
Fluor Corporation (FLR) traded up 1.08% during mid-day trading on Wednesday, reaching $45.76. The company’s stock had a trading volume of 478,856 shares. The firm has a 50-day moving average of $45.48 and a 200-day moving average of $51.53. Fluor Corporation has a 52 week low of $43.65 and a 52 week high of $58.37. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 27.08 and a beta of 1.41.
Fluor Corporation (NYSE:FLR) last issued its quarterly earnings data on Thursday, May 4th. The construction company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.10. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.83 billion. Fluor Corporation had a return on equity of 13.89% and a net margin of 1.22%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. On average, equities research analysts expect that Fluor Corporation will post $2.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Friday, June 2nd were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.86%. The ex-dividend date was Wednesday, May 31st. Fluor Corporation’s dividend payout ratio (DPR) is currently 50.00%.
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FLR has been the topic of several recent research reports. BidaskClub upgraded Fluor Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Credit Suisse Group cut their price target on Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, May 5th. Canaccord Genuity upgraded Fluor Corporation from a “hold” rating to a “buy” rating and cut their price target for the stock from $57.00 to $55.00 in a report on Monday, May 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded Fluor Corporation from a “buy” rating to a “hold” rating in a report on Monday, May 8th. Finally, DA Davidson upgraded Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $54.91.
About Fluor Corporation
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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