Stonebridge Capital Management Inc. reduced its stake in shares of Fluor Corp. (NYSE:FLR) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,165 shares of the company’s stock after selling 700 shares during the period. Fluor Corp. accounts for about 2.0% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 17th largest position. Stonebridge Capital Management Inc.’s holdings in Fluor Corp. were worth $4,394,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. NN Investment Partners Holdings N.V. acquired a new stake in Fluor Corp. during the first quarter valued at about $5,383,000. BlackRock Group LTD increased its stake in Fluor Corp. by 1.2% in the first quarter. BlackRock Group LTD now owns 1,149,752 shares of the company’s stock valued at $61,741,000 after buying an additional 13,355 shares during the last quarter. FDO Partners LLC acquired a new stake in Fluor Corp. during the first quarter valued at about $1,184,000. Wrapmanager Inc. increased its stake in Fluor Corp. by 20.4% in the first quarter. Wrapmanager Inc. now owns 6,177 shares of the company’s stock valued at $332,000 after buying an additional 1,048 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Fluor Corp. by 16.4% in the first quarter. Prudential Financial Inc. now owns 415,370 shares of the company’s stock valued at $22,305,000 after buying an additional 58,570 shares during the last quarter. 84.35% of the stock is owned by institutional investors and hedge funds.
Shares of Fluor Corp. (NYSE:FLR) traded up 2.64% during midday trading on Wednesday, reaching $50.55. The company had a trading volume of 926,643 shares. The firm has a market capitalization of $7.04 billion, a price-to-earnings ratio of 22.11 and a beta of 1.85. Fluor Corp. has a 12-month low of $39.48 and a 12-month high of $55.69. The company has a 50 day moving average of $51.11 and a 200 day moving average of $52.02.
Fluor Corp. (NYSE:FLR) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $4.73 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. Fluor Corp.’s revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that Fluor Corp. will post $3.25 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Friday, September 2nd will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 1.66%. Fluor Corp.’s payout ratio is presently 37.00%.
Several analysts recently issued reports on the stock. MKM Partners set a $52.00 price target on shares of Fluor Corp. and gave the company a “hold” rating in a research report on Friday, August 5th. Credit Suisse Group AG reissued a “buy” rating on shares of Fluor Corp. in a research report on Saturday, June 4th. DA Davidson reissued a “buy” rating on shares of Fluor Corp. in a research report on Tuesday, August 16th. Janney Montgomery Scott reissued a “buy” rating on shares of Fluor Corp. in a research report on Tuesday, August 16th. Finally, Bank of America Corp. reissued a “sell” rating and issued a $50.00 price target on shares of Fluor Corp. in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Fluor Corp. currently has an average rating of “Hold” and a consensus target price 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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