State Treasurer State of Michigan reduced its holdings in shares of Fluor Co. (NEW) (NYSE:FLR) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,953 shares of the construction company’s stock after selling 1,500 shares during the period. State Treasurer State of Michigan’s holdings in Fluor Co. (NEW) were worth $2,115,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Balentine LLC grew its position in Fluor Co. (NEW) by 99.1% during the third quarter. Balentine LLC now owns 2,799 shares of the construction company’s stock valued at $118,000 after acquiring an additional 1,393 shares during the last quarter. MAI Capital Management bought a new position in Fluor Co. (NEW) during the fourth quarter valued at approximately $224,000. IFM Investors Pty Ltd bought a new position in Fluor Co. (NEW) during the third quarter valued at approximately $226,000. Oakbrook Investments LLC bought a new position in Fluor Co. (NEW) during the fourth quarter valued at approximately $284,000. Finally, Investment Counselors of Maryland LLC grew its holdings in shares of Fluor Co. (NEW) by 73.6% in the third quarter. Investment Counselors of Maryland LLC now owns 5,736 shares of the construction company’s stock worth $241,000 after purchasing an additional 2,431 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

In related news, CFO Bruce A. Stanski sold 2,792 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 40,104 shares of the company’s stock, valued at $1,944,241.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jose Luis M. Bustamante sold 2,750 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $48.63, for a total value of $133,732.50. Following the completion of the sale, the insider now directly owns 38,757 shares of the company’s stock, valued at approximately $1,884,752.91. The disclosure for this sale can be found here. Insiders sold 45,932 shares of company stock valued at $2,191,092 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Several research analysts have recently issued reports on the stock. Barclays raised their target price 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. Credit Suisse Group upgraded shares of Fluor Co. (NEW) from a “neutral” rating to an “outperform” rating and set a $71.00 target price on the stock in a report on Thursday, January 18th. MKM Partners set a $56.00 target price on shares of Fluor Co. (NEW) and gave the stock a “hold” rating in a report on Wednesday, January 17th. Citigroup raised their target price on shares of Fluor Co. (NEW) from $53.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, KeyCorp raised their target price on shares of Fluor Co. (NEW) from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $54.62.

Shares of Fluor Co. (NYSE FLR) opened at $56.31 on Tuesday. Fluor Co. has a 52 week low of $37.03 and a 52 week high of $62.09. The company has a market capitalization of $7,694.54, a price-to-earnings ratio of 19.79, a P/E/G ratio of 2.62 and a beta of 1.53. The company has a quick ratio of 1.18, a current ratio of 1.56 and a debt-to-equity ratio of 0.46.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Thursday, March 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Wednesday, February 28th. Fluor Co. (NEW)’s payout ratio is 58.74%.

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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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Institutional Ownership by Quarter for Fluor Co. (NEW) (NYSE:FLR)

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