Gotham Asset Management LLC acquired a new stake in shares of Fluor Corporation (NYSE:FLR) during the first quarter, Holdings Channel reports. The fund acquired 376,717 shares of the construction company’s stock, valued at approximately $19,823,000. Gotham Asset Management LLC owned approximately 0.27% of Fluor Corporation at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Huntington National Bank boosted its position in Fluor Corporation by 24.2% in the first quarter. Huntington National Bank now owns 2,727 shares of the construction company’s stock worth $143,000 after buying an additional 531 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Fluor Corporation during the first quarter worth approximately $175,000. Mn Services Vermogensbeheer B.V. boosted its position in Fluor Corporation by 3.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,714 shares of the construction company’s stock worth $183,000 after buying an additional 122 shares during the period. State of Alaska Department of Revenue acquired a new position in Fluor Corporation during the first quarter worth approximately $194,000. Finally, Alambic Investment Management L.P. acquired a new position in Fluor Corporation during the first quarter worth approximately $204,000. 83.32% of the stock is owned by hedge funds and other institutional investors.
Shares of Fluor Corporation (NYSE FLR) traded up 0.78% during midday trading on Friday, reaching $45.04. The company had a trading volume of 1,602,095 shares. The company has a 50 day moving average of $47.04 and a 200 day moving average of $52.22. Fluor Corporation has a one year low of $44.02 and a one year high of $58.37. The company has a market capitalization of $6.30 billion, a PE ratio of 26.65 and a beta of 1.42.
Fluor Corporation (NYSE:FLR) last released its quarterly earnings results on Thursday, May 4th. The construction company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.10. Fluor Corporation had a net margin of 1.22% and a return on equity of 13.89%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the business earned $0.75 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts predict that Fluor Corporation will post $2.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Friday, June 2nd will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, May 31st. This represents a $0.84 dividend on an annualized basis and a yield of 1.87%. Fluor Corporation’s payout ratio is 50.00%.
A number of equities analysts have recently commented on the company. BidaskClub raised Fluor Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research cut Fluor Corporation from a “hold” rating to a “strong sell” rating in a report on Monday. DA Davidson raised Fluor Corporation from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a report on Thursday, June 1st. Credit Suisse Group lowered their price target on Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating for the company in a report on Monday, May 15th. Finally, Canaccord Genuity raised Fluor Corporation from a “hold” rating to a “buy” rating and lowered their price target for the stock from $57.00 to $55.00 in a report on Monday, May 15th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Fluor Corporation has a consensus rating of “Hold” and an average target price of $54.91.
About Fluor Corporation
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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