Sumitomo Mitsui Asset Management Company LTD Has $513,000 Position in Fluor Corporation (FLR)
Sumitomo Mitsui Asset Management Company LTD lowered its stake in shares of Fluor Corporation (NYSE:FLR) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 11,224 shares of the construction company’s stock after selling 83 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Fluor Corporation were worth $513,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Reliance Trust Co. of Delaware increased its position in shares of Fluor Corporation by 15.2% in the first quarter. Reliance Trust Co. of Delaware now owns 21,612 shares of the construction company’s stock valued at $1,137,000 after buying an additional 2,850 shares in the last quarter. Cullinan Associates Inc. increased its position in Fluor Corporation by 0.3% in the first quarter. Cullinan Associates Inc. now owns 33,000 shares of the construction company’s stock valued at $1,736,000 after buying an additional 100 shares during the period. Howard Capital Management increased its position in Fluor Corporation by 4.3% in the first quarter. Howard Capital Management now owns 183,045 shares of the construction company’s stock valued at $9,632,000 after buying an additional 7,577 shares during the period. Heritage Investors Management Corp increased its position in Fluor Corporation by 2.3% in the first quarter. Heritage Investors Management Corp now owns 254,768 shares of the construction company’s stock valued at $13,406,000 after buying an additional 5,673 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in Fluor Corporation during the first quarter valued at approximately $813,000. 82.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fluor Corporation (NYSE FLR) opened at 38.81 on Friday. The company has a 50-day moving average of $44.19 and a 200 day moving average of $49.56. Fluor Corporation has a 12 month low of $38.42 and a 12 month high of $58.37. The company has a market cap of $5.43 billion, a PE ratio of 48.45 and a beta of 1.39.
Fluor Corporation (NYSE:FLR) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.72 earnings per share (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 firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same quarter last year, the firm posted $0.72 EPS. The business’s revenue was down 2.9% on a year-over-year basis. On average, analysts anticipate that Fluor Corporation will post $1.50 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.16%. Fluor Corporation’s dividend payout ratio (DPR) is 106.33%.
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FLR has been the topic of several research analyst reports. Credit Suisse Group set a $59.00 target price on shares of Fluor Corporation and gave the stock a “hold” rating in a report on Saturday, April 22nd. Zacks Investment Research raised shares of Fluor Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Monday, May 1st. Canaccord Genuity raised shares of Fluor Corporation from a “hold” rating to a “buy” rating and lowered their target price for the stock from $57.00 to $55.00 in a report on Monday, May 8th. They noted that the move was a valuation call. DA Davidson raised shares of Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Thursday, June 1st. Finally, BidaskClub raised shares of Fluor Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Two 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. The stock has a consensus rating of “Hold” and an average target price 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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