Fluor Corporation (FLR) Shares Bought by Banque Pictet & Cie SA
Banque Pictet & Cie SA boosted its position in shares of Fluor Corporation (NYSE:FLR) by 38.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 179,650 shares of the construction company’s stock after purchasing an additional 50,000 shares during the period. Banque Pictet & Cie SA owned 0.13% of Fluor Corporation worth $7,563,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FLR. CI Global Investments Inc. grew its position in Fluor Corporation by 66.8% during the 2nd quarter. CI Global Investments Inc. now owns 4,721,828 shares of the construction company’s stock worth $216,165,000 after purchasing an additional 1,890,300 shares in the last quarter. Becker Capital Management Inc. purchased a new position in Fluor Corporation during the 3rd quarter worth approximately $26,858,000. Janus Henderson Group PLC grew its position in Fluor Corporation by 4,064.5% during the 2nd quarter. Janus Henderson Group PLC now owns 577,992 shares of the construction company’s stock worth $26,460,000 after purchasing an additional 564,113 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in Fluor Corporation by 1,807.7% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 537,369 shares of the construction company’s stock worth $26,482,000 after purchasing an additional 509,200 shares in the last quarter. Finally, BlackRock Inc. grew its position in Fluor Corporation by 4.7% during the 2nd quarter. BlackRock Inc. now owns 9,447,760 shares of the construction company’s stock worth $432,519,000 after purchasing an additional 422,641 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.
Several research firms have weighed in on FLR. Zacks Investment Research upgraded shares of Fluor Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Canaccord Genuity reissued a “buy” rating and set a $54.00 target price on shares of Fluor Corporation in a research note on Monday, November 6th. UBS AG lifted their target price on shares of Fluor Corporation from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Robert W. Baird lifted their target price on shares of Fluor Corporation from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Finally, Credit Suisse Group decreased their target price on shares of Fluor Corporation from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Fluor Corporation presently has a consensus rating of “Hold” and a consensus price target of $47.45.
Fluor Corporation (NYSE:FLR) traded up $0.28 during mid-day trading on Friday, hitting $46.70. 1,323,760 shares of the company traded hands, compared to its average volume of 1,424,947. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.18 and a current ratio of 1.56. Fluor Corporation has a 1-year low of $37.03 and a 1-year high of $58.37. The firm has a market cap of $6,500.00, a price-to-earnings ratio of 16.42, a PEG ratio of 3.18 and a beta of 1.42.
Fluor Corporation (NYSE:FLR) last released its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.09. Fluor Corporation had a net margin of 1.03% and a return on equity of 11.69%. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same quarter in the previous year, the business earned $0.03 EPS. Fluor Corporation’s quarterly revenue was up 3.7% compared to the same quarter last year. sell-side analysts anticipate that Fluor Corporation will post 1.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Tuesday, December 5th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, December 4th. Fluor Corporation’s payout ratio is presently 58.74%.
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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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