Franklin Resources Inc. Lowers Holdings in Fluor Co. (NEW) (FLR)

Franklin Resources Inc. lowered its holdings in shares of Fluor Co. (NEW) (NYSE:FLR) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,795,122 shares of the construction company’s stock after selling 18,600 shares during the quarter. Franklin Resources Inc.’s holdings in Fluor Co. (NEW) were worth $144,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Balentine LLC raised its stake in shares of Fluor Co. (NEW) by 99.1% in the third 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 period. American Beacon Advisors Inc. purchased a new stake in shares of Fluor Co. (NEW) in the fourth quarter valued at $120,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Fluor Co. (NEW) in the fourth quarter valued at $135,000. Mission Wealth Management LP purchased a new stake in shares of Fluor Co. (NEW) in the fourth quarter valued at $201,000. Finally, Moors & Cabot Inc. purchased a new stake in shares of Fluor Co. (NEW) in the fourth quarter valued at $201,000. Institutional investors and hedge funds own 87.13% of the company’s stock.

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Fluor Co. (FLR) opened at $57.83 on Wednesday. The company has a market cap of $8,153.80, a PE ratio of 21.91, a P/E/G ratio of 1.07 and a beta of 1.52. Fluor Co. has a 12 month low of $37.03 and a 12 month high of $62.09. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.46.

Fluor Co. (NEW) (NYSE:FLR) last posted its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.91 billion. Fluor Co. (NEW) had a net margin of 0.98% and a return on equity of 10.95%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 EPS. analysts forecast that Fluor Co. will post 3.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Thursday, March 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Wednesday, February 28th. Fluor Co. (NEW)’s dividend payout ratio (DPR) is 61.76%.

Several equities research analysts have recently weighed in on FLR shares. TheStreet raised shares of 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 issued a $64.00 price target on shares of Fluor Co. (NEW) in a research note on Wednesday, February 21st. Citigroup raised their price target on shares of Fluor Co. (NEW) from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. ValuEngine raised shares of Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Finally, Barclays assumed coverage on shares of Fluor Co. (NEW) in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $54.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Fluor Co. (NEW) presently has a consensus rating of “Hold” and an average target price of $58.00.

In other Fluor Co. (NEW) news, insider Robin K. Chopra sold 3,889 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $57.69, for a total transaction of $224,356.41. Following the transaction, the insider now owns 14,743 shares of the company’s stock, valued at approximately $850,523.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Carlos M. Hernandez sold 30,257 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $58.25, for a total transaction of $1,762,470.25. The disclosure for this sale can be found here. Insiders have sold a total of 121,218 shares of company stock worth $6,953,603 in the last three months. Insiders own 1.40% of the company’s stock.

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Fluor Co. (NEW) Company Profile

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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Institutional Ownership by Quarter for Fluor Co. (NEW) (NYSE:FLR)

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