Robert W. Baird Lowers Fluor Co. (NEW) (FLR) Price Target to $50.00

Fluor Co. (NEW) (NYSE:FLR) had its price objective cut by Robert W. Baird from $59.00 to $50.00 in a research note published on Friday, November 2nd. They currently have a hold rating on the construction company’s stock.

Several other brokerages have also recently issued reports on FLR. Citigroup set a $66.00 target price on shares of Fluor Co. (NEW) and gave the stock a buy rating in a report on Thursday, October 11th. Goldman Sachs Group raised shares of Fluor Co. (NEW) from a neutral rating to a buy rating and set a $59.00 target price for the company in a report on Thursday, October 18th. ValuEngine cut shares of Fluor Co. (NEW) from a buy rating to a hold rating in a report on Friday, October 12th. UBS Group set a $69.00 target price on shares of Fluor Co. (NEW) and gave the stock a buy rating in a report on Thursday, October 11th. Finally, Bank of America set a $67.00 target price on shares of Fluor Co. (NEW) and gave the stock a buy rating in a report on Thursday, October 11th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Fluor Co. (NEW) presently has a consensus rating of Hold and an average price target of $59.08.

NYSE:FLR traded down $1.63 during mid-day trading on Friday, hitting $46.60. 2,062,538 shares of the company’s stock were exchanged, compared to its average volume of 2,444,467. Fluor Co. has a one year low of $42.22 and a one year high of $62.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.52 and a quick ratio of 1.12. The firm has a market capitalization of $6.92 billion, a P/E ratio of 28.59, a PEG ratio of 0.70 and a beta of 1.67.

Fluor Co. (NEW) (NYSE:FLR) last posted its quarterly earnings data on Thursday, November 1st. The construction company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). Fluor Co. (NEW) had a return on equity of 11.31% and a net margin of 1.21%. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the firm earned $0.67 EPS. The company’s revenue was down 5.7% on a year-over-year basis. On average, equities research analysts expect that Fluor Co. will post 2.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Tuesday, December 4th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 1.80%. Fluor Co. (NEW)’s dividend payout ratio is currently 51.53%.

In other Fluor Co. (NEW) news, Chairman David Thomas Seaton bought 5,158 shares of Fluor Co. (NEW) stock in a transaction on Tuesday, November 6th. The stock was acquired at an average cost of $48.52 per share, with a total value of $250,266.16. Following the completion of the acquisition, the chairman now owns 301,400 shares in the company, valued at $14,623,928. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. San Francisco Sentry Investment Group CA increased its holdings in Fluor Co. (NEW) by 5,010.0% during the second quarter. San Francisco Sentry Investment Group CA now owns 2,044 shares of the construction company’s stock valued at $100,000 after buying an additional 2,004 shares during the last quarter. Zions Bancorporation bought a new position in shares of Fluor Co. (NEW) in the third quarter worth approximately $122,000. Tower Research Capital LLC TRC bought a new position in shares of Fluor Co. (NEW) in the second quarter worth approximately $163,000. Girard Partners LTD. bought a new position in shares of Fluor Co. (NEW) in the third quarter worth approximately $203,000. Finally, Comerica Securities Inc. bought a new position in shares of Fluor Co. (NEW) in the third quarter worth approximately $206,000. 88.45% of the stock is owned by institutional investors and hedge funds.

About Fluor Co. (NEW)

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. The company's Energy & Chemicals segment offers a range of design, engineering, procurement, construction, fabrication, and project management services in the upstream, midstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas and pipeline markets.

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