Fluor Corp. (FLR) Receives $49.92 Average PT from Brokerages
Shares of Fluor Corp. (NYSE:FLR) have been given a consensus rating of “Hold” by the eighteen ratings firms that are currently covering the company. Two investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $49.92.
Several equities analysts have issued reports on the stock. Bank of America Corp. reissued a “sell” rating and issued a $50.00 price objective on shares of Fluor Corp. in a research note on Friday, August 5th. Zacks Investment Research raised shares of Fluor Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. DA Davidson cut shares of Fluor Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $60.00 to $52.00 in a research note on Friday, November 4th. MKM Partners set a $52.00 price objective on shares of Fluor Corp. and gave the company a “hold” rating in a research note on Friday, August 5th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $48.00 price objective on shares of Fluor Corp. in a research note on Friday, November 4th.
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Large investors have recently modified their holdings of the stock. Virtus Investment Advisers Inc. acquired a new stake in shares of Fluor Corp. during the third quarter worth approximately $112,000. Huntington National Bank raised its position in Fluor Corp. by 8.2% in the third quarter. Huntington National Bank now owns 2,196 shares of the company’s stock worth $112,000 after buying an additional 166 shares during the period. BlueMountain Capital Management LLC raised its position in Fluor Corp. by 107.3% in the first quarter. BlueMountain Capital Management LLC now owns 2,303 shares of the company’s stock worth $124,000 after buying an additional 1,192 shares during the period. Point72 Asia Hong Kong Ltd purchased a new position in Fluor Corp. during the second quarter worth about $128,000. Finally, Victory Capital Management Inc. raised its position in Fluor Corp. by 49.6% in the third quarter. Victory Capital Management Inc. now owns 2,659 shares of the company’s stock worth $136,000 after buying an additional 882 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.
Fluor Corp. (NYSE:FLR) opened at 54.82 on Friday. Fluor Corp. has a 1-year low of $39.48 and a 1-year high of $55.69. The stock has a 50 day moving average of $50.44 and a 200 day moving average of $51.17. The stock has a market capitalization of $7.63 billion, a P/E ratio of 48.51 and a beta of 1.61.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Friday, December 2nd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.84 dividend on an annualized basis and a yield of 1.53%. Fluor Corp.’s payout ratio is 74.34%.
About Fluor Corp.
Fluor Corporation (Fluor) is a holding company. The Company is a professional services company. The Company provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services. It operates in five segments: Oil & Gas, Industrial & Infrastructure, Government, Global Services and Power.
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