28,691 Shares in Fluor Corporation (NYSE:FLR) Acquired by Bank of Nova Scotia
Bank of Nova Scotia purchased a new stake in Fluor Corporation (NYSE:FLR) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 28,691 shares of the construction company’s stock, valued at approximately $1,510,000.
Other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Fluor Corporation by 3,137.9% in the first quarter. BlackRock Inc. now owns 9,025,119 shares of the construction company’s stock valued at $474,903,000 after buying an additional 8,746,386 shares during the period. Norges Bank purchased a new stake in shares of Fluor Corporation during the fourth quarter valued at about $74,963,000. Vanguard Group Inc. raised its stake in Fluor Corporation by 3.6% in the first quarter. Vanguard Group Inc. now owns 13,312,237 shares of the construction company’s stock worth $700,490,000 after buying an additional 460,481 shares during the period. Gotham Asset Management LLC bought a new stake in Fluor Corporation during the first quarter worth $19,823,000. Finally, WINTON GROUP Ltd raised its stake in Fluor Corporation by 199.2% in the first quarter. WINTON GROUP Ltd now owns 422,584 shares of the construction company’s stock worth $21,687,000 after buying an additional 281,338 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.
Shares of Fluor Corporation (NYSE FLR) traded up 0.05% on Thursday, reaching $43.86. The company had a trading volume of 1,852,469 shares. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 25.95 and a beta of 1.40. Fluor Corporation has a 52 week low of $41.78 and a 52 week high of $58.37. The stock’s 50 day moving average is $45.12 and its 200 day moving average is $50.11. Fluor Corporation also was the target of unusually large options trading activity on Monday. Stock investors acquired 7,535 put options on the company. This represents an increase of approximately 1,204% compared to the typical volume of 578 put options.
Fluor Corporation (NYSE:FLR) last issued its quarterly earnings data on Thursday, May 4th. The construction company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by $0.10. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.83 billion. Fluor Corporation had a return on equity of 13.89% and a net margin of 1.22%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. On average, equities analysts anticipate that Fluor Corporation will post $2.43 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 5th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. Fluor Corporation’s dividend payout ratio (DPR) is currently 50.00%.
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A number of equities research analysts have recently weighed in on the company. Credit Suisse Group set a $59.00 target price on Fluor Corporation and gave the company a “hold” rating in a research note on Saturday, April 22nd. BidaskClub raised Fluor Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Canaccord Genuity raised Fluor Corporation from a “hold” rating to a “buy” rating and lowered their target price for the company from $57.00 to $55.00 in a research note on Monday, May 8th. They noted that the move was a valuation call. Zacks Investment Research raised Fluor Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Monday, May 1st. Finally, DA Davidson raised Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Thursday, June 1st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $54.91.
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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