Artisan Partners Limited Partnership Trims Holdings in Fluor Corporation (FLR)
Artisan Partners Limited Partnership trimmed its position in shares of Fluor Corporation (NYSE:FLR) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,600,891 shares of the construction company’s stock after selling 62,353 shares during the period. Artisan Partners Limited Partnership owned 1.86% of Fluor Corporation worth $119,069,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbour Capital Advisors LLC bought a new position in Fluor Corporation during the first quarter valued at $124,000. Huntington National Bank grew its holdings in Fluor Corporation by 27.2% during the second quarter. Huntington National Bank now owns 3,468 shares of the construction company’s stock valued at $159,000 after purchasing an additional 741 shares during the period. Smithfield Trust Co. grew its holdings in Fluor Corporation by 393.3% during the second quarter. Smithfield Trust Co. now owns 3,700 shares of the construction company’s stock valued at $169,000 after purchasing an additional 2,950 shares during the period. Captrust Financial Advisors bought a new position in Fluor Corporation during the second quarter valued at $169,000. Finally, Ameritas Investment Partners Inc. bought a new position in Fluor Corporation during the first quarter valued at $175,000. 84.51% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on FLR shares. Deutsche Bank AG lowered Fluor Corporation from a “buy” rating to a “hold” rating and reduced their price objective for the company from $55.00 to $40.00 in a report on Friday, August 4th. BidaskClub upgraded Fluor Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Zacks Investment Research downgraded Fluor Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, June 12th. Canaccord Genuity set a $48.00 target price on Fluor Corporation and gave the stock a “buy” rating in a research report on Sunday, August 6th. Finally, Robert W. Baird restated a “hold” rating and set a $40.00 target price on shares of Fluor Corporation in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $49.18.
Shares of Fluor Corporation (FLR) traded up 0.6908% during midday trading on Tuesday, hitting $40.4777. The company had a trading volume of 86,185 shares. Fluor Corporation has a 1-year low of $37.04 and a 1-year high of $58.37. The stock has a 50 day moving average price of $39.35 and a 200 day moving average price of $46.21. The firm has a market capitalization of $5.66 billion, a P/E ratio of 50.5340 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Fluor Corporation will post $1.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, August 31st. Fluor Corporation’s payout ratio is 106.33%.
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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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