Heritage Investors Management Corp Sells 29,745 Shares of Fluor Co. (NEW) (FLR)
Heritage Investors Management Corp lessened its stake in Fluor Co. (NEW) (NYSE:FLR) by 10.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 265,498 shares of the construction company’s stock after selling 29,745 shares during the period. Heritage Investors Management Corp’s holdings in Fluor Co. (NEW) were worth $13,713,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the stock. Mutual of America Capital Management LLC boosted its holdings in Fluor Co. (NEW) by 15.1% in the 3rd quarter. Mutual of America Capital Management LLC now owns 19,761 shares of the construction company’s stock valued at $832,000 after purchasing an additional 2,592 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Fluor Co. (NEW) by 1.8% in the 3rd quarter. New York State Common Retirement Fund now owns 303,450 shares of the construction company’s stock valued at $12,775,000 after purchasing an additional 5,500 shares in the last quarter. Becker Capital Management Inc. purchased a new stake in Fluor Co. (NEW) in the 3rd quarter valued at approximately $26,858,000. Koch Industries Inc. purchased a new stake in Fluor Co. (NEW) in the 2nd quarter valued at approximately $335,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in Fluor Co. (NEW) in the 3rd quarter valued at approximately $57,365,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.
A number of equities research analysts have weighed in on FLR shares. Credit Suisse Group lowered their price objective on Fluor Co. (NEW) from $43.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. Robert W. Baird raised Fluor Co. (NEW) from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $48.00 to $61.00 in a report on Wednesday, January 3rd. Barclays lifted their price objective on Fluor Co. (NEW) from $54.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. Zacks Investment Research lowered Fluor Co. (NEW) from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, ValuEngine lowered Fluor Co. (NEW) from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Fluor Co. (NEW) presently has a consensus rating of “Hold” and an average target price of $54.62.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, February 28th. Fluor Co. (NEW)’s dividend payout ratio (DPR) is 58.74%.
In other news, Chairman David Thomas Seaton sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $47.57, for a total transaction of $1,902,800.00. Following the sale, the chairman now owns 276,643 shares of the company’s stock, valued at approximately $13,159,907.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bruce A. Stanski sold 2,792 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $48.48, for a total value of $135,356.16. Following the sale, the chief financial officer now directly owns 40,104 shares in the company, valued at approximately $1,944,241.92. The disclosure for this sale can be found here. Insiders have sold a total of 45,932 shares of company stock worth $2,191,092 in the last three months. Corporate insiders own 1.30% of the company’s stock.
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About Fluor Co. (NEW)
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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