Principal Financial Group Inc. lowered its stake in shares of Fluor Corporation (NYSE:FLR) by 4.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 208,151 shares of the construction company’s stock after selling 10,838 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of Fluor worth $8,763,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in FLR. Captrust Financial Advisors bought a new stake in Fluor in the second quarter valued at about $169,000. Smithfield Trust Co. increased its stake in Fluor by 393.3% in the second quarter. Smithfield Trust Co. now owns 3,700 shares of the construction company’s stock valued at $169,000 after acquiring an additional 2,950 shares during the period. Greenwood Capital Associates LLC increased its stake in Fluor by 10.5% in the second quarter. Greenwood Capital Associates LLC now owns 4,515 shares of the construction company’s stock valued at $207,000 after acquiring an additional 430 shares during the period. St. James Investment Company LLC bought a new stake in Fluor in the second quarter valued at about $265,000. Finally, Capital Investment Counsel Inc increased its stake in Fluor by 23.9% in the second quarter. Capital Investment Counsel Inc now owns 6,620 shares of the construction company’s stock valued at $303,000 after acquiring an additional 1,275 shares during the period. 84.30% of the stock is owned by institutional investors and hedge funds.
In other news, insider Jose Luis M. Bustamante sold 2,750 shares of the 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 sale, the insider now directly owns 38,757 shares of the company’s stock, valued at $1,884,752.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce A. Stanski sold 2,792 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $48.48, for a total transaction of $135,356.16. Following the sale, the chief financial officer now directly owns 40,104 shares in the company, valued at $1,944,241.92. The disclosure for this sale can be found here. Insiders have sold 45,542 shares of company stock worth $2,171,889 over the last ninety days. Insiders own 1.30% of the company’s stock.
Fluor (NYSE:FLR) last issued its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The firm had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.73 billion. Fluor had a net margin of 1.03% and a return on equity of 11.69%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. equities analysts expect that Fluor Corporation will post 1.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 5th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 4th. This represents a $0.84 annualized dividend and a yield of 1.72%. Fluor’s dividend payout ratio is 58.74%.
A number of research firms recently weighed in on FLR. Stephens reissued an “overweight” rating and issued a $50.00 target price (up previously from $44.00) on shares of Fluor in a research note on Saturday, October 14th. Robert W. Baird upped their target price 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. KeyCorp reissued a “buy” rating and issued a $50.00 target price on shares of Fluor in a research note on Friday, September 22nd. Seaport Global Securities reissued a “neutral” rating and issued a $44.00 target price (down previously from $50.00) on shares of Fluor in a research note on Wednesday, October 11th. Finally, UBS upped their target price 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. 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 currently has an average rating of “Hold” and an average price target of $47.45.
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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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