Fluor Corporation (FLR) Holdings Cut by Federated Investors Inc. PA
Federated Investors Inc. PA trimmed its stake in shares of Fluor Corporation (NYSE:FLR) by 52.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,735 shares of the construction company’s stock after selling 4,058 shares during the period. Federated Investors Inc. PA’s holdings in Fluor Corporation were worth $171,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Fluor Corporation by 3.6% during the first quarter. Vanguard Group Inc. now owns 13,312,237 shares of the construction company’s stock valued at $700,490,000 after purchasing an additional 460,481 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Fluor Corporation by 4.1% during the first quarter. Clearbridge Investments LLC now owns 12,415,798 shares of the construction company’s stock valued at $653,319,000 after purchasing an additional 487,187 shares in the last quarter. BlackRock Inc. lifted its holdings in Fluor Corporation by 3,137.9% during the first quarter. BlackRock Inc. now owns 9,025,119 shares of the construction company’s stock valued at $474,903,000 after purchasing an additional 8,746,386 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Fluor Corporation by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,222,103 shares of the construction company’s stock valued at $116,926,000 after purchasing an additional 47,809 shares in the last quarter. Finally, Boston Partners lifted its holdings in Fluor Corporation by 3.9% during the second quarter. Boston Partners now owns 1,812,304 shares of the construction company’s stock valued at $82,967,000 after purchasing an additional 68,241 shares in the last quarter. 84.51% of the stock is currently owned by institutional investors and hedge funds.
FLR has been the topic of several recent analyst reports. Canaccord Genuity set a $48.00 price objective on shares of Fluor Corporation and gave the company a “buy” rating in a report on Sunday, August 6th. BidaskClub raised shares of Fluor Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Deutsche Bank AG downgraded shares of Fluor Corporation from a “buy” rating to a “hold” rating and decreased their price objective for the company from $55.00 to $40.00 in a report on Friday, August 4th. DA Davidson raised shares of Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Thursday, June 1st. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $40.00 price objective on shares of Fluor Corporation in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $49.25.
Shares of Fluor Corporation (FLR) opened at 40.93 on Monday. Fluor Corporation has a 12 month low of $37.04 and a 12 month high of $58.37. The firm has a market capitalization of $5.73 billion, a PE ratio of 51.10 and a beta of 1.41. The stock has a 50 day moving average of $39.27 and a 200-day moving average of $46.10.
Fluor Corporation (NYSE:FLR) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.94 billion. During the same period in the previous year, the firm earned $0.72 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that Fluor Corporation will post $1.50 EPS for the current fiscal 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 given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.05%. Fluor Corporation’s dividend payout ratio is presently 106.33%.
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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