Fluor Corporation (NYSE:FLR) Position Boosted by APG Asset Management N.V.
APG Asset Management N.V. increased its position in shares of Fluor Corporation (NYSE:FLR) by 18.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 866,688 shares of the construction company’s stock after buying an additional 135,677 shares during the period. APG Asset Management N.V. owned 0.62% of Fluor Corporation worth $39,677,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in FLR. Vanguard Group Inc. raised its stake in shares of 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. Clearbridge Investments LLC raised its stake in shares of Fluor Corporation by 4.1% in the first quarter. Clearbridge Investments LLC now owns 12,415,798 shares of the construction company’s stock worth $653,319,000 after buying an additional 487,187 shares during the period. 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 worth $474,903,000 after buying an additional 8,746,386 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Fluor Corporation by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,222,103 shares of the construction company’s stock worth $116,926,000 after buying an additional 47,809 shares during the period. Finally, Boston Partners raised its stake in shares of Fluor Corporation by 12.0% in the first quarter. Boston Partners now owns 1,744,063 shares of the construction company’s stock worth $91,773,000 after buying an additional 186,545 shares during the period. 82.77% of the stock is owned by institutional investors and hedge funds.
Shares of Fluor Corporation (FLR) opened at 40.06 on Monday. The company has a market capitalization of $5.60 billion, a P/E ratio of 23.70 and a beta of 1.39. Fluor Corporation has a 12 month low of $38.78 and a 12 month high of $58.37. The company has a 50-day moving average price of $45.12 and a 200-day moving average price of $50.11.
Fluor Corporation (NYSE:FLR) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.13. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.94 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts forecast that Fluor Corporation will post $2.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, August 31st. Fluor Corporation’s dividend payout ratio (DPR) is currently 106.33%.
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A number of equities research analysts have issued reports on FLR shares. BidaskClub raised shares of Fluor Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Credit Suisse Group cut their price objective on shares of Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, May 5th. Canaccord Genuity raised shares of Fluor Corporation from a “hold” rating to a “buy” rating and cut their price objective for the company from $57.00 to $55.00 in a report on Monday, May 8th. They noted that the move was a valuation call. Deutsche Bank AG lowered shares of Fluor Corporation from a “buy” rating to a “hold” rating and cut their price objective for the company from $55.00 to $40.00 in a report on Friday. Finally, Zacks Investment Research downgraded Fluor Corporation from a “buy” rating to a “hold” rating in a research report on Monday, May 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $53.10.
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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