Shares of Fluor Co. (NEW) (NYSE:FLR) have been given a consensus rating of “Hold” by the eighteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $58.00.
Several analysts have recently weighed in on FLR shares. TheStreet raised shares of Fluor Co. (NEW) from a “c+” rating to a “b” rating in a report on Thursday, December 21st. Canaccord Genuity reaffirmed a “buy” rating and set a $64.00 price objective on shares of Fluor Co. (NEW) in a report on Wednesday, February 21st. Citigroup raised their price objective on shares of Fluor Co. (NEW) from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. ValuEngine raised shares of Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Finally, Barclays started coverage on shares of Fluor Co. (NEW) in a report on Tuesday, December 12th. They set an “equal weight” rating and a $54.00 price objective for the company.
FLR stock traded up $0.33 during trading hours on Friday, reaching $57.64. 1,577,653 shares of the company traded hands, compared to its average volume of 1,264,880. Fluor Co. has a 52-week low of $37.03 and a 52-week high of $62.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.57 and a quick ratio of 1.16. The firm has a market capitalization of $8,064.24, a price-to-earnings ratio of 42.38, a PEG ratio of 1.06 and a beta of 1.52.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Thursday, March 1st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Wednesday, February 28th. Fluor Co. (NEW)’s dividend payout ratio is currently 61.76%.
In related news, CFO Bruce A. Stanski sold 3,718 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $57.44, for a total value of $213,561.92. Following the completion of the sale, the chief financial officer now owns 61,802 shares of the company’s stock, valued at $3,549,906.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman David Thomas Seaton sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $56.72, for a total transaction of $2,836,000.00. Following the completion of the transaction, the chairman now directly owns 302,312 shares in the company, valued at $17,147,136.64. The disclosure for this sale can be found here. In the last three months, insiders sold 121,218 shares of company stock valued at $6,953,603. 1.40% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Fluor Co. (NEW) by 27.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 45,867 shares of the construction company’s stock worth $2,369,000 after purchasing an additional 9,877 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of Fluor Co. (NEW) during the fourth quarter worth $145,000. Salem Investment Counselors Inc. boosted its position in shares of Fluor Co. (NEW) by 2.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 46,075 shares of the construction company’s stock worth $2,380,000 after purchasing an additional 1,300 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Fluor Co. (NEW) during the fourth quarter worth $670,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Fluor Co. (NEW) during the fourth quarter worth $2,235,000. 87.13% of the stock is currently owned by hedge funds and other institutional investors.
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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