Harvey Investment Co. LLC Buys New Holdings in Fluor Co. (NEW) (NYSE:FLR)

Harvey Investment Co. LLC bought a new stake in Fluor Co. (NEW) (NYSE:FLR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 50,000 shares of the construction company’s stock, valued at approximately $957,000.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. increased its position in Fluor Co. (NEW) by 31.3% in the 2nd quarter. BlackRock Inc. now owns 14,151,867 shares of the construction company’s stock valued at $476,776,000 after buying an additional 3,375,108 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Fluor Co. (NEW) by 39.3% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,864,553 shares of the construction company’s stock valued at $197,577,000 after buying an additional 1,655,100 shares in the last quarter. Morgan Stanley increased its position in Fluor Co. (NEW) by 1,555.7% in the 2nd quarter. Morgan Stanley now owns 4,428,088 shares of the construction company’s stock valued at $149,183,000 after buying an additional 4,160,639 shares in the last quarter. Bank of New York Mellon Corp increased its position in Fluor Co. (NEW) by 15.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,455,262 shares of the construction company’s stock valued at $82,717,000 after buying an additional 331,169 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Fluor Co. (NEW) by 1.1% in the 2nd quarter. Wells Fargo & Company MN now owns 2,004,645 shares of the construction company’s stock valued at $67,537,000 after buying an additional 22,719 shares in the last quarter. 89.79% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently commented on FLR shares. Barclays reaffirmed a “hold” rating and issued a $28.00 target price on shares of Fluor Co. (NEW) in a research report on Sunday, August 4th. Citigroup cut their price target on Fluor Co. (NEW) from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. ValuEngine upgraded Fluor Co. (NEW) from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. KeyCorp reiterated a “hold” rating on shares of Fluor Co. (NEW) in a research note on Friday, August 2nd. Finally, Bank of America set a $17.00 price target on Fluor Co. (NEW) and gave the company a “sell” rating in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $33.82.

FLR stock traded up $0.59 during mid-day trading on Monday, reaching $19.65. 49,780 shares of the company traded hands, compared to its average volume of 2,102,239. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 9.23 and a beta of 2.19. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. Fluor Co. has a fifty-two week low of $16.25 and a fifty-two week high of $49.45. The firm’s 50 day moving average price is $19.14 and its 200 day moving average price is $27.75.

Fluor Co. (NEW) (NYSE:FLR) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.19). The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.72 billion. Fluor Co. (NEW) had a negative net margin of 2.74% and a positive return on equity of 7.09%. Fluor Co. (NEW)’s revenue for the quarter was down 16.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. On average, analysts anticipate that Fluor Co. will post 0.84 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 4th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.27%. Fluor Co. (NEW)’s payout ratio is presently 39.07%.

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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Institutional Ownership by Quarter for Fluor Co. (NEW) (NYSE:FLR)

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