Fluor Corporation (FLR) Stake Boosted by Banque Pictet & Cie SA
Banque Pictet & Cie SA raised its stake in Fluor Corporation (NYSE:FLR) by 37.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 129,650 shares of the construction company’s stock after buying an additional 35,000 shares during the period. Banque Pictet & Cie SA owned approximately 0.09% of Fluor Corporation worth $5,935,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbour Capital Advisors LLC acquired a new position in Fluor Corporation during the first quarter valued at about $124,000. Ameritas Investment Partners Inc. acquired a new position in Fluor Corporation during the first quarter valued at about $175,000. Huntington National Bank boosted its position in Fluor Corporation by 27.2% in the second quarter. Huntington National Bank now owns 3,468 shares of the construction company’s stock valued at $159,000 after buying an additional 741 shares during the last quarter. FNY Partners Fund LP acquired a new position in Fluor Corporation during the first quarter valued at about $189,000. Finally, State of Alaska Department of Revenue acquired a new position in Fluor Corporation during the first quarter valued at about $194,000. 84.53% of the stock is owned by institutional investors.
Fluor Corporation (NYSE FLR) opened at 38.61 on Friday. The company’s 50-day moving average price is $41.07 and its 200 day moving average price is $47.56. The company has a market cap of $5.40 billion, a PE ratio of 48.20 and a beta of 1.41. Fluor Corporation has a 52 week low of $37.04 and a 52 week high of $58.37.
Fluor Corporation (NYSE:FLR) last released its earnings results on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.13. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.94 billion. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.72 EPS. On average, analysts anticipate that Fluor Corporation will post $1.50 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 5th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.18%. Fluor Corporation’s dividend payout ratio (DPR) is currently 106.33%.
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Several research analysts have recently issued reports on the company. Johnson Rice cut Fluor Corporation from a “buy” rating to an “accumulate” rating and decreased their price target for the stock from $62.00 to $48.00 in a research note on Monday, August 7th. BidaskClub raised Fluor Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Deutsche Bank AG cut Fluor Corporation from a “buy” rating to a “hold” rating and decreased their price target for the stock from $55.00 to $40.00 in a research note on Friday, August 4th. Canaccord Genuity set a $48.00 price target on Fluor Corporation and gave the stock a “buy” rating in a research note on Sunday, August 6th. Finally, DA Davidson cut Fluor Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $55.00 to $48.00 in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $50.10.
Fluor Corporation 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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