Arizona State Retirement System trimmed its holdings in Fluor Co. (NEW) (NYSE:FLR) by 7.3% in the first quarter, Holdings Channel reports. The institutional investor owned 26,801 shares of the construction company’s stock after selling 2,101 shares during the period. Arizona State Retirement System’s holdings in Fluor Co. (NEW) were worth $986,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Benin Management CORP acquired a new stake in shares of Fluor Co. (NEW) in the first quarter valued at approximately $202,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Fluor Co. (NEW) in the first quarter valued at approximately $423,000. World Asset Management Inc lifted its position in shares of Fluor Co. (NEW) by 88.0% in the first quarter. World Asset Management Inc now owns 14,300 shares of the construction company’s stock valued at $526,000 after buying an additional 6,692 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Fluor Co. (NEW) in the fourth quarter valued at approximately $547,000. Finally, Advisor Partners LLC acquired a new stake in Fluor Co. (NEW) during the 1st quarter worth approximately $251,000. 84.87% of the stock is owned by institutional investors.
In other Fluor Co. (NEW) news, insider Ray F. Barnard sold 3,318 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $37.04, for a total transaction of $122,898.72. Following the transaction, the insider now owns 75,739 shares in the company, valued at approximately $2,805,372.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ray F. Barnard sold 7,515 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $37.57, for a total value of $282,338.55. Following the transaction, the insider now owns 86,572 shares in the company, valued at approximately $3,252,510.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,570 shares of company stock worth $506,670. Corporate insiders own 1.40% of the company’s stock.
Fluor Co. (NEW) (NYSE:FLR) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.68). Fluor Co. (NEW) had a return on equity of 8.90% and a net margin of 0.99%. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the business posted $0.56 earnings per share. The business’s revenue for the quarter was down 13.1% on a year-over-year basis. As a group, equities research analysts forecast that Fluor Co. will post 1.66 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, May 31st. This represents a $0.84 dividend on an annualized basis and a yield of 2.83%. Fluor Co. (NEW)’s dividend payout ratio (DPR) is presently 39.07%.
Several analysts recently weighed in on FLR shares. Goldman Sachs Group cut Fluor Co. (NEW) from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $44.00 to $28.00 in a report on Tuesday, May 7th. Macquarie raised Fluor Co. (NEW) from a “neutral” rating to an “outperform” rating in a report on Friday, May 3rd. MKM Partners set a $39.00 price target on Fluor Co. (NEW) and gave the stock a “hold” rating in a report on Friday, April 5th. Zacks Investment Research raised Fluor Co. (NEW) from a “sell” rating to a “hold” rating in a report on Monday, March 11th. Finally, DA Davidson dropped their price target on Fluor Co. (NEW) to $32.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $46.45.
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Fluor Co. (NEW) Company Profile
Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide. It operates through four segments: Energy & Chemicals; Mining, Industrial, Infrastructure & Power; Diversified Services; and Government.
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