Louisiana State Employees Retirement System Has $398,000 Position in Fluor Corporation (FLR)
Louisiana State Employees Retirement System raised its stake in shares of Fluor Corporation (NYSE:FLR) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 8,700 shares of the construction company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Fluor Corporation were worth $398,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Harbour Capital Advisors LLC purchased a new position in Fluor Corporation during the first quarter valued at $124,000. Huntington National Bank boosted its position in Fluor Corporation by 24.2% in the first quarter. Huntington National Bank now owns 2,727 shares of the construction company’s stock valued at $143,000 after buying an additional 531 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Fluor Corporation during the first quarter valued at $175,000. Mn Services Vermogensbeheer B.V. boosted its position in Fluor Corporation by 3.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,714 shares of the construction company’s stock valued at $183,000 after buying an additional 122 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Fluor Corporation by 10.3% in the second quarter. State of Alaska Department of Revenue now owns 4,074 shares of the construction company’s stock valued at $186,000 after buying an additional 380 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fluor Corporation (NYSE FLR) traded down 0.64% during trading on Tuesday, reaching $39.03. The company had a trading volume of 469,690 shares. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 48.73 and a beta of 1.39. The company’s 50 day moving average is $43.92 and its 200-day moving average is $49.24. Fluor Corporation has a 1-year low of $38.42 and a 1-year high of $58.37.
Fluor Corporation (NYSE:FLR) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.94 billion. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. On average, equities research analysts anticipate that Fluor Corporation will post $1.50 earnings per share 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. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.14%. Fluor Corporation’s dividend payout ratio (DPR) is currently 106.33%.
Several equities analysts have recently weighed in on FLR shares. BidaskClub cut Fluor Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. DA Davidson raised Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Thursday, June 1st. Zacks Investment Research cut Fluor Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, June 12th. Canaccord Genuity raised Fluor Corporation from a “hold” rating to a “buy” rating and lowered their price target for the company from $57.00 to $55.00 in a report on Monday, May 15th. Finally, Credit Suisse Group lowered their price target on Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Fluor Corporation currently has a consensus rating of “Hold” and a consensus target price of $50.10.
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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