Fisher Asset Management LLC Has $649,000 Position in Fluor Corporation (FLR)
Fisher Asset Management LLC boosted its position in Fluor Corporation (NYSE:FLR) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,169 shares of the construction company’s stock after buying an additional 597 shares during the period. Fisher Asset Management LLC’s holdings in Fluor Corporation were worth $649,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC purchased a new position in Fluor Corporation during the first quarter worth approximately $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 worth $143,000 after buying an additional 531 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Fluor Corporation during the first quarter worth approximately $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 worth $183,000 after buying an additional 122 shares in the last quarter. Finally, FNY Partners Fund LP purchased a new position in Fluor Corporation during the first quarter worth approximately $189,000. 83.07% of the stock is owned by hedge funds and other institutional investors.
Shares of Fluor Corporation (FLR) traded down 0.26% on Friday, hitting $37.67. 1,722,442 shares of the stock were exchanged. The stock has a market cap of $5.27 billion, a PE ratio of 47.03 and a beta of 1.39. The company’s 50 day moving average is $43.13 and its 200-day moving average is $48.82. Fluor Corporation has a 52-week low of $37.40 and a 52-week high of $58.37.
Fluor Corporation (NYSE:FLR) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. Fluor Corporation had a net margin of 0.58% and a return on equity of 13.80%. The company had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.94 billion. During the same quarter last year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts predict that Fluor Corporation will post $1.50 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 issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.84 dividend on an annualized basis and a yield of 2.23%. Fluor Corporation’s payout ratio is currently 106.33%.
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A number of equities analysts recently commented on the stock. BidaskClub raised shares of Fluor Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. DA Davidson lowered shares of Fluor Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $55.00 to $48.00 in a report on Friday, August 4th. Zacks Investment Research lowered shares of Fluor Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, June 12th. Johnson Rice lowered shares of Fluor Corporation from a “buy” rating to an “accumulate” rating and decreased their price objective for the company from $62.00 to $48.00 in a report on Monday, August 7th. Finally, Credit Suisse Group decreased 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 Monday, May 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target 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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