Prudential Financial Inc. raised its stake in shares of Fluor Corp. (NYSE:FLR) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,084 shares of the company’s stock after buying an additional 7,714 shares during the period. Prudential Financial Inc. owned about 0.30% of Fluor Corp. worth $20,850,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Citizens Financial Group Inc RI raised its stake in Fluor Corp. by 11.1% in the first quarter. Citizens Financial Group Inc RI now owns 2,006 shares of the company’s stock valued at $108,000 after buying an additional 200 shares during the period. BlueMountain Capital Management LLC raised its stake in Fluor Corp. by 107.3% in the first quarter. BlueMountain Capital Management LLC now owns 2,303 shares of the company’s stock valued at $124,000 after buying an additional 1,192 shares during the period. IFP Advisors Inc raised its stake in Fluor Corp. by 23.3% in the first quarter. IFP Advisors Inc now owns 2,801 shares of the company’s stock valued at $150,000 after buying an additional 529 shares during the period. Investment Counselors of Maryland LLC raised its stake in Fluor Corp. by 3.4% in the second quarter. Investment Counselors of Maryland LLC now owns 3,022 shares of the company’s stock valued at $149,000 after buying an additional 100 shares during the period. Finally, Assetmark Inc. acquired a new stake in Fluor Corp. during the second quarter valued at about $179,000. 84.35% of the stock is currently owned by institutional investors.
Fluor Corp. (NYSE:FLR) traded down 0.53% during midday trading on Tuesday, reaching $48.88. 94,680 shares of the company were exchanged. Fluor Corp. has a 52 week low of $39.48 and a 52 week high of $55.69. The company has a 50-day moving average of $51.18 and a 200 day moving average of $52.03. The firm has a market capitalization of $6.81 billion, a PE ratio of 21.38 and a beta of 1.85.
Fluor Corp. (NYSE:FLR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by $0.16. Fluor Corp. had a net margin of 1.81% and a return on equity of 15.45%. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.73 billion. During the same period last year, the business earned $1.00 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that Fluor Corp. will post $3.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Friday, September 2nd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, August 31st. Fluor Corp.’s dividend payout ratio (DPR) is currently 37.00%.
Several brokerages recently commented on FLR. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Fluor Corp. in a research note on Saturday, June 4th. DA Davidson reaffirmed a “buy” rating on shares of Fluor Corp. in a research note on Tuesday, August 16th. MKM Partners began coverage on shares of Fluor Corp. in a research note on Wednesday, June 29th. They set a “neutral” rating and a $52.00 price objective for the company. Janney Montgomery Scott reaffirmed a “buy” rating on shares of Fluor Corp. in a research note on Tuesday, August 16th. Finally, Bank of America Corp. reaffirmed a “sell” rating and set a $50.00 price objective on shares of Fluor Corp. in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.00.
About Fluor Corp.
Fluor Corporation (Fluor) is a holding company. The Company is a professional services company. The Company provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services. It operates in five segments: Oil & Gas, Industrial & Infrastructure, Government, Global Services and Power.
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