Cibc World Markets Corp Raises Stake in Fluor Corporation (FLR)
Cibc World Markets Corp grew its holdings in Fluor Corporation (NYSE:FLR) by 35.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,746 shares of the construction company’s stock after purchasing an additional 5,191 shares during the period. Cibc World Markets Corp’s holdings in Fluor Corporation were worth $904,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of FLR. Harbour Capital Advisors LLC purchased a new stake in shares of Fluor Corporation during the first quarter worth $124,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Fluor Corporation in the first quarter worth about $175,000. Huntington National Bank lifted its position in shares of Fluor Corporation by 27.2% in the second quarter. Huntington National Bank now owns 3,468 shares of the construction company’s stock worth $159,000 after buying an additional 741 shares during the last quarter. FNY Partners Fund LP acquired a new stake in shares of Fluor Corporation in the first quarter worth about $189,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Fluor Corporation in the second quarter worth about $169,000. Institutional investors own 84.51% of the company’s stock.
Fluor Corporation (FLR) opened at 43.06 on Tuesday. The stock has a 50 day moving average of $39.52 and a 200-day moving average of $45.27. The firm has a market cap of $6.02 billion, a PE ratio of 53.76 and a beta of 1.40. Fluor Corporation has a 52 week low of $37.04 and a 52 week high of $58.37.
Fluor Corporation (NYSE:FLR) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.59 by $0.13. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.94 billion. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. Analysts expect that Fluor Corporation will post $1.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors 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 annualized dividend and a yield of 1.95%. Fluor Corporation’s payout ratio is currently 106.33%.
A number of research firms recently issued reports on FLR. BidaskClub upgraded shares of Fluor Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. KeyCorp restated a “buy” rating and issued a $50.00 price objective on shares of Fluor Corporation in a research note on Friday, September 22nd. DA Davidson lowered shares of Fluor Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $55.00 to $48.00 in a research report on Friday, August 4th. Robert W. Baird reaffirmed a “hold” rating and set a $40.00 target price on shares of Fluor Corporation in a research report on Tuesday, September 5th. Finally, Johnson Rice cut shares of Fluor Corporation from a “buy” rating to an “accumulate” rating and cut their target price for the company from $62.00 to $48.00 in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $49.25.
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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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