Honeywell International Inc. Purchases New Position in Fluor Corporation (NYSE:FLR)
Honeywell International Inc. purchased a new stake in Fluor Corporation (NYSE:FLR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 270,000 shares of the construction company’s stock, valued at approximately $12,361,000. Honeywell International Inc. owned approximately 0.19% of Fluor Corporation as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Harbour Capital Advisors LLC acquired a new stake in shares of Fluor Corporation during the first quarter valued at about $124,000. Huntington National Bank increased its stake 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. Smithfield Trust Co. increased its stake in shares of Fluor Corporation by 393.3% in the second quarter. Smithfield Trust Co. now owns 3,700 shares of the construction company’s stock valued at $169,000 after buying an additional 2,950 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Fluor Corporation during the first quarter valued at about $175,000. Finally, 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. Institutional investors own 82.77% of the company’s stock.
Fluor Corporation (FLR) opened at 39.18 on Tuesday. The firm has a market capitalization of $5.48 billion, a PE ratio of 23.18 and a beta of 1.39. The stock’s 50 day moving average price is $45.12 and its 200 day moving average price is $50.11. Fluor Corporation has a 52-week low of $39.17 and a 52-week high of $58.37.
Fluor Corporation (NYSE:FLR) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same period in the previous year, the company posted $0.72 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. On average, analysts predict that Fluor Corporation will post $2.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Tuesday, September 5th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, August 31st. Fluor Corporation’s payout ratio is 106.33%.
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Several brokerages have issued reports on FLR. BidaskClub upgraded Fluor Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. DA Davidson downgraded Fluor Corporation from a “buy” rating to a “neutral” rating in a report on Friday. Zacks Investment Research downgraded Fluor Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, June 12th. Johnson Rice downgraded Fluor Corporation from a “buy” rating to an “accumulate” rating and set a $48.00 price target for the company. in a report on Monday. Finally, Credit Suisse Group reduced their price objective on Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Fluor Corporation has an average rating of “Hold” and a consensus price target of $50.80.
Fluor Corporation 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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