Point72 Asset Management L.P. raised its stake in shares of Fluor Co. (NEW) (NYSE:FLR) by 100.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 100,000 shares of the construction company’s stock after buying an additional 50,000 shares during the period. Point72 Asset Management L.P. owned about 0.07% of Fluor Co. (NEW) worth $5,722,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLR. American Beacon Advisors Inc. purchased a new position in shares of Fluor Co. (NEW) during the 4th quarter valued at about $120,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Fluor Co. (NEW) during the 4th quarter valued at about $145,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Fluor Co. (NEW) during the 1st quarter valued at about $184,000. Comerica Securities Inc. purchased a new position in shares of Fluor Co. (NEW) during the 1st quarter valued at about $200,000. Finally, Mission Wealth Management LP purchased a new position in shares of Fluor Co. (NEW) during the 4th quarter valued at about $201,000. Institutional investors and hedge funds own 89.54% of the company’s stock.
A number of equities analysts have weighed in on the company. Credit Suisse Group reiterated an “outperform” rating and set a $73.00 price objective (up previously from $71.00) on shares of Fluor Co. (NEW) in a research note on Thursday, February 22nd. Barclays reiterated a “hold” rating and set a $62.00 price objective (up previously from $57.00) on shares of Fluor Co. (NEW) in a research note on Tuesday, February 27th. KeyCorp restated an “overweight” rating and set a $64.00 target price (up from $61.00) on shares of Fluor Co. (NEW) in a research report on Wednesday, February 21st. Canaccord Genuity restated a “buy” rating and set a $64.00 target price on shares of Fluor Co. (NEW) in a research report on Wednesday, February 21st. Finally, DA Davidson dropped their target price on Fluor Co. (NEW) from $63.00 to $52.00 and set a “neutral” rating on the stock in a research report on Friday, May 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $54.07.
Fluor Co. (NEW) (NYSE:FLR) last issued its quarterly earnings data on Thursday, May 3rd. The construction company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.25). The company had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.69 billion. Fluor Co. (NEW) had a return on equity of 11.08% and a net margin of 0.58%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. analysts expect that Fluor Co. will post 2.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Friday, June 1st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.84 dividend on an annualized basis and a yield of 1.69%. Fluor Co. (NEW)’s dividend payout ratio (DPR) is 51.53%.
In related news, Director Peter J. Fluor acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 8th. The shares were acquired at an average price of $44.54 per share, with a total value of $2,227,000.00. Following the acquisition, the director now owns 141,120 shares of the company’s stock, valued at approximately $6,285,484.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.
Fluor Co. (NEW) Profile
Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. It operates through four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Diversified Services; and Government.
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