Retirement Systems of Alabama Has $11.39 Million Stake in Fluor Corporation (FLR)
Retirement Systems of Alabama increased its position in Fluor Corporation (NYSE:FLR) by 8.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 248,732 shares of the construction company’s stock after buying an additional 19,405 shares during the period. Retirement Systems of Alabama’s holdings in Fluor Corporation were worth $11,387,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the company. Karp Capital Management Corp bought a new stake in shares of Fluor Corporation during the first quarter worth $3,862,000. Heritage Investors Management Corp boosted its stake in shares of Fluor Corporation by 2.3% in the first quarter. Heritage Investors Management Corp now owns 254,768 shares of the construction company’s stock worth $13,406,000 after buying an additional 5,673 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Fluor Corporation by 14.9% in the first quarter. OppenheimerFunds Inc. now owns 45,801 shares of the construction company’s stock worth $2,410,000 after buying an additional 5,948 shares during the period. Toronto Dominion Bank boosted its stake in shares of Fluor Corporation by 54.5% in the first quarter. Toronto Dominion Bank now owns 38,306 shares of the construction company’s stock worth $2,015,000 after buying an additional 13,516 shares during the period. Finally, IPG Investment Advisors LLC boosted its stake in shares of Fluor Corporation by 6.8% in the second quarter. IPG Investment Advisors LLC now owns 70,605 shares of the construction company’s stock worth $3,232,000 after buying an additional 4,470 shares during the period. Hedge funds and other institutional investors own 82.77% of the company’s stock.
Fluor Corporation (FLR) opened at 38.81 on Friday. Fluor Corporation has a 12 month low of $38.42 and a 12 month high of $58.37. The company’s 50-day moving average price is $44.19 and its 200 day moving average price is $49.56. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 48.45 and a beta of 1.39.
Fluor Corporation (NYSE:FLR) last announced its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.13. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.94 billion. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. Fluor Corporation’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. Analysts predict that Fluor Corporation will post $1.50 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Thursday, August 31st. Fluor Corporation’s dividend payout ratio (DPR) is 106.33%.
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FLR has been the subject of a number of analyst reports. Deutsche Bank AG cut Fluor Corporation from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $55.00 to $40.00 in a research note on Friday, August 4th. Credit Suisse Group decreased their price objective on Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, May 15th. Canaccord Genuity upgraded Fluor Corporation from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $57.00 to $55.00 in a research note on Monday, May 15th. Zacks Investment Research cut Fluor Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. Finally, BidaskClub upgraded Fluor Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $50.10.
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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