Tocqueville Asset Management L.P. lowered its stake in Fluor Co. (NEW) (NYSE:FLR) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 364,710 shares of the construction company’s stock after selling 53,308 shares during the period. Tocqueville Asset Management L.P. owned 0.26% of Fluor Co. (NEW) worth $18,837,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Beacon Advisors Inc. purchased a new position in shares of Fluor Co. (NEW) in the fourth quarter worth $120,000. SeaCrest Wealth Management LLC purchased a new position in shares of Fluor Co. (NEW) in the fourth quarter worth $135,000. Balentine LLC raised its holdings in shares of Fluor Co. (NEW) by 99.1% in the third quarter. Balentine LLC now owns 2,799 shares of the construction company’s stock worth $118,000 after buying an additional 1,393 shares during the last quarter. Mission Wealth Management LP purchased a new position in shares of Fluor Co. (NEW) in the fourth quarter worth $201,000. Finally, Moors & Cabot Inc. purchased a new position in shares of Fluor Co. (NEW) in the fourth quarter worth $201,000. 87.13% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. Alembic Global Advisors reaffirmed a “hold” rating on shares of Fluor Co. (NEW) in a report on Wednesday, February 21st. Barclays raised their price target on shares of Fluor Co. (NEW) from $54.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, January 24th. Citigroup increased their price objective on shares of Fluor Co. (NEW) from $53.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Zacks Investment Research lowered shares of Fluor Co. (NEW) from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, MKM Partners set a $56.00 price objective on shares of Fluor Co. (NEW) and gave the stock a “hold” rating in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $58.00.
Fluor Co. (NEW) (NYSE:FLR) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.91 billion. Fluor Co. (NEW) had a net margin of 0.98% and a return on equity of 10.95%. The firm’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business earned $0.82 earnings per share. equities research analysts forecast that Fluor Co. will post 3.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Thursday, March 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.84 annualized dividend and a yield of 1.46%. Fluor Co. (NEW)’s dividend payout ratio is presently 61.76%.
In related news, Chairman David Thomas Seaton sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $56.72, for a total transaction of $2,836,000.00. Following the sale, the chairman now owns 302,312 shares in the company, valued at $17,147,136.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robin K. Chopra sold 5,553 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.49, for a total transaction of $319,241.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,218 shares of company stock worth $6,953,603. 1.40% of the stock is owned by company insiders.
Fluor Co. (NEW) 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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