Insider Selling: Fluor Corporation (FLR) Insider Sells $133,732.50 in Stock
Fluor Corporation (NYSE:FLR) insider Jose Luis M. Bustamante sold 2,750 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $48.63, for a total transaction of $133,732.50. Following the completion of the transaction, the insider now owns 38,757 shares of the company’s stock, valued at $1,884,752.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Fluor Corporation (NYSE:FLR) opened at $48.67 on Monday. The stock has a market cap of $6,807.73, a price-to-earnings ratio of 17.51, a P/E/G ratio of 3.39 and a beta of 1.46. Fluor Corporation has a 12 month low of $37.03 and a 12 month high of $58.37. 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 (NYSE:FLR) last issued its earnings results on Thursday, November 2nd. The construction company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.73 billion. Fluor had a net margin of 1.03% and a return on equity of 11.69%. Fluor’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 earnings per share. analysts predict that Fluor Corporation will post 1.56 EPS for the current year.
A number of research firms have recently commented on FLR. Zacks Investment Research raised shares of Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Canaccord Genuity reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Fluor in a research note on Monday, November 6th. UBS upped their price objective on shares of Fluor from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Robert W. Baird upped their price objective on shares of Fluor 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 reduced their price objective on shares of Fluor from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $47.45.
A number of hedge funds and other institutional investors have recently modified their holdings of FLR. CI Global Investments Inc. boosted its stake in Fluor by 66.8% during the second quarter. CI Global Investments Inc. now owns 4,721,828 shares of the construction company’s stock worth $216,165,000 after acquiring an additional 1,890,300 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in Fluor by 53.8% during the third quarter. Artisan Partners Limited Partnership now owns 4,000,036 shares of the construction company’s stock worth $168,402,000 after acquiring an additional 1,399,145 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Fluor during the third quarter worth $57,365,000. Becker Capital Management Inc. bought a new position in Fluor during the third quarter worth $26,858,000. Finally, Janus Henderson Group PLC boosted its stake in Fluor by 4,064.5% during the second quarter. Janus Henderson Group PLC now owns 577,992 shares of the construction company’s stock worth $26,460,000 after acquiring an additional 564,113 shares in the last quarter. 84.30% of the stock is currently owned by institutional investors and hedge funds.
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Fluor 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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