Moors & Cabot Inc. Invests $292,000 in Fluor Co. (NEW) (FLR)

Moors & Cabot Inc. bought a new position in shares of Fluor Co. (NEW) (NYSE:FLR) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,908 shares of the construction company’s stock, valued at approximately $292,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc increased its stake in shares of Fluor Co. (NEW) by 1.2% during the third quarter. Vanguard Group Inc now owns 14,347,886 shares of the construction company’s stock worth $833,612,000 after purchasing an additional 175,647 shares during the period. FMR LLC increased its stake in shares of Fluor Co. (NEW) by 0.9% during the fourth quarter. FMR LLC now owns 5,335,346 shares of the construction company’s stock worth $171,799,000 after purchasing an additional 47,411 shares during the period. Sound Shore Management Inc. CT increased its stake in shares of Fluor Co. (NEW) by 40.5% during the fourth quarter. Sound Shore Management Inc. CT now owns 3,153,230 shares of the construction company’s stock worth $101,534,000 after purchasing an additional 908,546 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Fluor Co. (NEW) by 2,214.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,326,643 shares of the construction company’s stock worth $72,000 after purchasing an additional 2,226,117 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Fluor Co. (NEW) by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,101,840 shares of the construction company’s stock worth $67,678,000 after purchasing an additional 9,322 shares during the period. Institutional investors own 86.37% of the company’s stock.

Shares of FLR opened at $29.48 on Thursday. Fluor Co. has a 52-week low of $28.00 and a 52-week high of $60.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.04 and a current ratio of 1.49. The firm has a market capitalization of $4.22 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.40 and a beta of 1.77.

Fluor Co. (NEW) (NYSE:FLR) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.68). Fluor Co. (NEW) had a net margin of 0.99% and a return on equity of 8.90%. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s revenue for the quarter was down 13.1% on a year-over-year basis. Equities research analysts expect that Fluor Co. will post 1.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be paid a $0.21 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.85%. Fluor Co. (NEW)’s payout ratio is 39.07%.

In other news, insider Ray F. Barnard sold 7,515 shares of Fluor Co. (NEW) stock in a transaction on Friday, March 1st. The stock was sold at an average price of $37.57, for a total value of $282,338.55. Following the transaction, the insider now owns 86,572 shares in the company, valued at approximately $3,252,510.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alan L. Boeckmann purchased 16,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was acquired at an average price of $29.81 per share, for a total transaction of $476,960.00. Following the purchase, the insider now owns 17,250 shares in the company, valued at approximately $514,222.50. The disclosure for this purchase can be found here. In the last quarter, insiders sold 13,570 shares of company stock worth $506,670. Corporate insiders own 1.40% of the company’s stock.

A number of equities analysts have recently weighed in on the company. DA Davidson lowered their target price on Fluor Co. (NEW) to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Zacks Investment Research lowered Fluor Co. (NEW) from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 7th. ValuEngine upgraded Fluor Co. (NEW) from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th. UBS Group lowered their target price on Fluor Co. (NEW) from $62.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, MKM Partners set a $39.00 target price on Fluor Co. (NEW) and gave the stock a “hold” rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $46.45.

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Fluor Co. (NEW) Profile

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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Institutional Ownership by Quarter for Fluor Co. (NEW) (NYSE:FLR)

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