Fluor Corporation (FLR) Shares Bought by Northwestern Mutual Investment Management Company LLC
Northwestern Mutual Investment Management Company LLC boosted its position in shares of Fluor Corporation (NYSE:FLR) by 1,807.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 537,369 shares of the construction company’s stock after purchasing an additional 509,200 shares during the period. Northwestern Mutual Investment Management Company LLC owned 0.38% of Fluor Corporation worth $26,482,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbour Capital Advisors LLC purchased a new position in Fluor Corporation during the 1st quarter worth approximately $124,000. Huntington National Bank grew its position in Fluor Corporation by 27.2% during the 2nd quarter. Huntington National Bank now owns 3,468 shares of the construction company’s stock worth $159,000 after purchasing an additional 741 shares in the last quarter. Smithfield Trust Co. grew its position in Fluor Corporation by 393.3% during the 2nd quarter. Smithfield Trust Co. now owns 3,700 shares of the construction company’s stock worth $169,000 after purchasing an additional 2,950 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Fluor Corporation during the 1st quarter worth approximately $175,000. Finally, Mn Services Vermogensbeheer B.V. grew its position in Fluor Corporation by 3.4% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 3,714 shares of the construction company’s stock worth $183,000 after purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.
FLR has been the topic of several research analyst reports. BidaskClub cut shares of Fluor Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. DA Davidson upgraded shares of 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 shares of Fluor Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, June 12th. Canaccord Genuity upgraded shares of 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 shares of Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $50.10.
Shares of Fluor Corporation (FLR) traded up 0.10% during midday trading on Monday, reaching $38.61. 1,640,269 shares of the company were exchanged. The stock has a 50-day moving average price of $41.07 and a 200 day moving average price of $47.56. Fluor Corporation has a 52-week low of $37.04 and a 52-week high of $58.37. The company has a market capitalization of $5.40 billion, a P/E ratio of 48.20 and a beta of 1.41.
Fluor Corporation (NYSE:FLR) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 EPS 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 business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same period last year, the business posted $0.72 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts expect that Fluor Corporation will post $1.50 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors 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 yield of 2.18%. The ex-dividend date is Thursday, August 31st. Fluor Corporation’s dividend payout ratio (DPR) is currently 106.33%.
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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