Pinnacle Financial Partners Inc. Sells 22,427 Shares of Fluor Corporation (FLR)
Pinnacle Financial Partners Inc. lessened its stake in shares of Fluor Corporation (NYSE:FLR) by 67.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 10,729 shares of the construction company’s stock after selling 22,427 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Fluor Corporation were worth $452,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in FLR. Thrivent Financial For Lutherans lifted its position in shares of Fluor Corporation by 6.7% during the 1st quarter. Thrivent Financial For Lutherans now owns 5,130 shares of the construction company’s stock valued at $270,000 after acquiring an additional 320 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Fluor Corporation by 12.2% during the 2nd quarter. Bank of Montreal Can now owns 41,045 shares of the construction company’s stock valued at $1,879,000 after acquiring an additional 4,463 shares during the last quarter. Gateway Investment Advisers LLC lifted its position in shares of Fluor Corporation by 2.5% during the 2nd quarter. Gateway Investment Advisers LLC now owns 8,806 shares of the construction company’s stock valued at $403,000 after acquiring an additional 216 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Fluor Corporation by 4.4% during the 2nd quarter. Fisher Asset Management LLC now owns 14,169 shares of the construction company’s stock valued at $649,000 after acquiring an additional 597 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Fluor Corporation by 10.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,074 shares of the construction company’s stock valued at $186,000 after acquiring an additional 380 shares during the last quarter. Institutional investors own 82.30% of the company’s stock.
A number of analysts have recently issued reports on FLR shares. Zacks Investment Research upgraded Fluor Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 7th. Canaccord Genuity restated a “buy” rating and issued a $54.00 target price on shares of Fluor Corporation in a report on Monday, November 6th. UBS AG increased their target price on Fluor Corporation from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Robert W. Baird increased their target price on Fluor Corporation from $40.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, Credit Suisse Group reduced their target price on Fluor Corporation from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $47.45.
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Fluor Corporation (NYSE FLR) traded down $0.09 during midday trading on Wednesday, hitting $47.47. 464,314 shares of the stock were exchanged, compared to its average volume of 1,424,428. Fluor Corporation has a 1-year low of $37.03 and a 1-year high of $58.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.56 and a quick ratio of 1.18. The firm has a market capitalization of $6,543.37, a P/E ratio of 16.83, a PEG ratio of 3.26 and a beta of 1.42.
Fluor Corporation (NYSE:FLR) last posted its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.09. Fluor Corporation had a net margin of 1.03% and a return on equity of 11.69%. The business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.73 billion. During the same period in the prior year, the business posted $0.03 earnings per share. Fluor Corporation’s revenue for the quarter was up 3.7% compared to the same quarter last year. analysts anticipate that Fluor Corporation will post 1.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Tuesday, December 5th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Monday, December 4th. Fluor Corporation’s dividend payout ratio (DPR) is presently 58.74%.
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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