Private Asset Management Inc. decreased its holdings in shares of Fluor Corporation (NYSE:FLR) by 10.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,200 shares of the construction company’s stock after selling 8,988 shares during the quarter. Private Asset Management Inc. owned approximately 0.06% of Fluor worth $4,194,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Balentine LLC lifted its holdings in Fluor by 99.1% during the 3rd quarter. Balentine LLC now owns 2,799 shares of the construction company’s stock valued at $118,000 after purchasing an additional 1,393 shares during the last quarter. Captrust Financial Advisors acquired a new stake in Fluor during the 2nd quarter valued at $169,000. IFM Investors Pty Ltd acquired a new stake in Fluor during the 3rd quarter valued at $226,000. Investment Counselors of Maryland LLC lifted its holdings in Fluor by 73.6% during the 3rd quarter. Investment Counselors of Maryland LLC now owns 5,736 shares of the construction company’s stock valued at $241,000 after purchasing an additional 2,431 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in Fluor during the 3rd quarter valued at $299,000. 84.15% of the stock is owned by institutional investors and hedge funds.
Fluor Corporation (NYSE:FLR) traded up $0.15 during mid-day trading on Friday, reaching $53.41. The company’s stock had a trading volume of 973,700 shares, compared to its average volume of 1,006,075. 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 company has a market cap of $7,470.00, a PE ratio of 37.35, a price-to-earnings-growth ratio of 2.55 and a beta of 1.46. Fluor Corporation has a 1 year low of $37.03 and a 1 year high of $58.37.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Tuesday, December 5th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Monday, December 4th. Fluor’s payout ratio is currently 58.74%.
In related news, Chairman David Thomas Seaton sold 40,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $47.57, for a total value of $1,902,800.00. Following the transaction, the chairman now owns 276,643 shares in the company, valued at $13,159,907.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief financial officer now owns 40,104 shares in the company, valued at approximately $1,944,241.92. The disclosure for this sale can be found here. Insiders sold 45,932 shares of company stock worth $2,191,092 in the last 90 days. 1.30% of the stock is owned by company insiders.
FLR has been the topic of several recent research reports. TheStreet upgraded Fluor from a “c+” rating to a “b” rating in a research report on Thursday, December 21st. Citigroup set a $53.00 price objective on Fluor and gave the stock a “buy” rating in a research report on Friday, October 27th. KeyCorp reiterated a “buy” rating and set a $50.00 price objective on shares of Fluor in a research report on Friday, September 22nd. Canaccord Genuity reiterated a “buy” rating and set a $54.00 price objective on shares of Fluor in a research report on Monday, November 6th. Finally, Barclays initiated coverage on Fluor in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $54.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Fluor currently has an average rating of “Hold” and an average price target of $49.08.
Fluor 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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