Oppenheimer Asset Management Inc. trimmed its holdings in Fluor Corporation (NYSE:FLR) by 8.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,889 shares of the construction company’s stock after selling 480 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Fluor Corporation were worth $224,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Fluor Corporation by 35.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,892 shares of the construction company’s stock valued at $1,872,000 after buying an additional 10,782 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Fluor Corporation by 1.0% in the second quarter. Legal & General Group Plc now owns 797,160 shares of the construction company’s stock valued at $36,490,000 after buying an additional 7,877 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Fluor Corporation in the first quarter valued at approximately $3,862,000. OppenheimerFunds Inc. lifted its position in shares of Fluor Corporation by 14.9% in the first quarter. OppenheimerFunds Inc. now owns 45,801 shares of the construction company’s stock valued at $2,410,000 after buying an additional 5,948 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Fluor Corporation in the first quarter valued at approximately $1,648,000. 84.51% of the stock is owned by institutional investors.
Fluor Corporation (NYSE FLR) opened at 40.98 on Thursday. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 51.16 and a beta of 1.41. The stock’s 50 day moving average price is $39.27 and its 200-day moving average price is $46.10. Fluor Corporation has a 52 week low of $37.04 and a 52 week high of $58.37.
Fluor Corporation (NYSE:FLR) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.59 by $0.13. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. Fluor Corporation’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts forecast that Fluor Corporation will post $1.50 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors 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 yield of 2.05%. Fluor Corporation’s payout ratio is 106.33%.
FLR has been the subject of a number of recent analyst reports. Canaccord Genuity set a $48.00 price objective on Fluor Corporation and gave the company a “buy” rating in a research report on Sunday, August 6th. BidaskClub raised Fluor Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Deutsche Bank AG cut Fluor Corporation from a “buy” rating to a “hold” rating and cut their price objective for the company from $55.00 to $40.00 in a research report on Friday, August 4th. DA Davidson raised Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Thursday, June 1st. Finally, Robert W. Baird reiterated a “hold” rating and set a $40.00 target price on shares of Fluor Corporation in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, nine have given 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 $49.18.
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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