Brinker Capital Inc. raised its holdings in shares of Fluor Co. (NEW) (NYSE:FLR) by 106.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 50,478 shares of the construction company’s stock after purchasing an additional 26,038 shares during the quarter. Brinker Capital Inc.’s holdings in Fluor Co. (NEW) were worth $1,858,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in Fluor Co. (NEW) during the fourth quarter worth approximately $547,000. Calamos Advisors LLC bought a new stake in Fluor Co. (NEW) during the fourth quarter worth approximately $18,773,000. First Hawaiian Bank boosted its holdings in Fluor Co. (NEW) by 8.2% during the fourth quarter. First Hawaiian Bank now owns 3,948 shares of the construction company’s stock worth $127,000 after buying an additional 300 shares in the last quarter. Kentucky Retirement Systems bought a new stake in Fluor Co. (NEW) during the third quarter worth approximately $1,083,000. Finally, Standard Life Aberdeen plc boosted its holdings in Fluor Co. (NEW) by 9.1% during the third quarter. Standard Life Aberdeen plc now owns 70,137 shares of the construction company’s stock worth $4,075,000 after buying an additional 5,823 shares in the last quarter. Hedge funds and other institutional investors own 88.05% of the company’s stock.
In other Fluor Co. (NEW) news, insider Ray F. Barnard sold 7,515 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $37.57, for a total value of $282,338.55. Following the completion of the sale, the insider now owns 86,572 shares in the company, valued at approximately $3,252,510.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jose Luis M. Bustamante sold 2,737 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $37.06, for a total transaction of $101,433.22. Following the completion of the sale, the executive vice president now owns 73,409 shares of the company’s stock, valued at approximately $2,720,537.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,570 shares of company stock valued at $506,670. 1.40% of the stock is owned by insiders.
Fluor Co. (NEW) (NYSE:FLR) last issued its quarterly earnings results on Thursday, February 21st. The construction company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.16. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fluor Co. (NEW) had a net margin of 1.17% and a return on equity of 11.98%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 EPS. On average, research analysts expect that Fluor Co. will post 2.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.84 annualized dividend and a dividend yield of 2.11%. Fluor Co. (NEW)’s dividend payout ratio (DPR) is presently 39.07%.
A number of brokerages recently weighed in on FLR. MKM Partners set a $39.00 target price on shares of Fluor Co. (NEW) and gave the stock a “hold” rating in a report on Friday, April 5th. ValuEngine upgraded shares of Fluor Co. (NEW) from a “strong sell” rating to a “sell” rating in a report on Thursday, February 28th. Zacks Investment Research cut shares of Fluor Co. (NEW) from a “hold” rating to a “strong sell” rating in a report on Tuesday. Finally, Credit Suisse Group restated a “buy” rating and set a $56.00 target price on shares of Fluor Co. (NEW) in a report on Monday, February 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $54.69.
About Fluor Co. (NEW)
Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide. It operates through four segments: Energy & Chemicals; Mining, Industrial, Infrastructure & Power; Diversified Services; and Government.
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