Fluor Corporation (FLR) Shares Bought by Teacher Retirement System of Texas
Teacher Retirement System of Texas raised its stake in shares of Fluor Corporation (NYSE:FLR) by 43.7% during the second quarter, Holdings Channel reports. The institutional investor owned 323,958 shares of the construction company’s stock after buying an additional 98,530 shares during the period. Teacher Retirement System of Texas’ holdings in Fluor Corporation were worth $14,831,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Bollard Group LLC raised its stake in Fluor Corporation by 13.3% in the first quarter. Bollard Group LLC now owns 14,054 shares of the construction company’s stock valued at $740,000 after buying an additional 1,655 shares in the last quarter. Reliance Trust Co. of Delaware raised its stake in 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. raised its stake 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 in the last quarter. Howard Capital Management raised its stake 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 in the last quarter. Finally, Heritage Investors Management Corp raised its stake 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 in the last quarter. Hedge funds and other institutional investors own 82.77% of the company’s stock.
Shares of Fluor Corporation (NYSE FLR) opened at 39.07 on Friday. The firm has a market cap of $5.47 billion, a P/E ratio of 48.78 and a beta of 1.39. The company’s 50-day moving average price is $44.05 and its 200-day moving average price is $49.46. Fluor Corporation has a 12 month low of $38.42 and a 12 month high of $58.37.
Fluor Corporation (NYSE:FLR) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. 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 business earned $0.72 EPS. Fluor Corporation’s revenue was down 2.9% compared to the same quarter last year. On average, analysts predict that Fluor Corporation will post $1.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Tuesday, September 5th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.84 dividend on an annualized basis and a yield of 2.15%. Fluor Corporation’s dividend payout ratio is 106.33%.
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Several research firms have issued reports on FLR. Zacks Investment Research upgraded Fluor Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Monday, May 1st. Credit Suisse Group set a $59.00 target price on Fluor Corporation and gave the company a “hold” rating in a research report on Saturday, April 22nd. Canaccord Genuity raised Fluor Corporation from a “hold” rating to a “buy” rating and decreased their target price for the company from $57.00 to $55.00 in a research report on Monday, May 8th. They noted that the move was a valuation call. BidaskClub raised Fluor Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, DA Davidson raised Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $50.10.
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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