Fluor Co. (NEW) (NYSE:FLR) Given Average Rating of “Hold” by Brokerages

Shares of Fluor Co. (NEW) (NYSE:FLR) have received an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $42.18.

A number of brokerages have weighed in on FLR. Zacks Investment Research downgraded shares of Fluor Co. (NEW) from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 7th. Citigroup cut their price target on shares of Fluor Co. (NEW) from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday. ValuEngine raised shares of Fluor Co. (NEW) from a “strong sell” rating to a “sell” rating in a report on Thursday, June 13th. Barclays reissued a “hold” rating and issued a $28.00 price target on shares of Fluor Co. (NEW) in a report on Sunday. Finally, DA Davidson cut their price target on shares of Fluor Co. (NEW) to $32.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th.

In other Fluor Co. (NEW) news, insider Alan L. Boeckmann bought 16,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were bought at an average price of $29.81 per share, for a total transaction of $476,960.00. Following the acquisition, the insider now directly owns 17,250 shares of the company’s stock, valued at $514,222.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carlos M. Hernandez bought 17,001 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $29.52 per share, for a total transaction of $501,869.52. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Fluor Co. (NEW) by 0.4% during the 4th 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 last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Fluor Co. (NEW) in the 4th quarter worth $272,000. Legal & General Group Plc lifted its stake in shares of Fluor Co. (NEW) by 3.9% in the 4th quarter. Legal & General Group Plc now owns 787,154 shares of the construction company’s stock worth $25,346,000 after acquiring an additional 29,214 shares during the period. Cetera Advisor Networks LLC lifted its stake in shares of Fluor Co. (NEW) by 12.9% in the 4th quarter. Cetera Advisor Networks LLC now owns 9,529 shares of the construction company’s stock worth $299,000 after acquiring an additional 1,086 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Fluor Co. (NEW) by 5.7% in the 4th quarter. Millennium Management LLC now owns 206,003 shares of the construction company’s stock worth $6,633,000 after acquiring an additional 11,067 shares during the period. Institutional investors own 89.49% of the company’s stock.

FLR stock opened at $22.26 on Wednesday. The firm has a market capitalization of $3.17 billion, a P/E ratio of 10.35, a P/E/G ratio of 1.07 and a beta of 2.04. The business has a 50-day moving average of $31.89. Fluor Co. has a fifty-two week low of $22.10 and a fifty-two week high of $60.60. The company has a quick ratio of 1.04, a current ratio of 1.49 and a debt-to-equity ratio of 0.53.

Fluor Co. (NEW) (NYSE:FLR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.19). Fluor Co. (NEW) had a positive return on equity of 6.73% and a negative net margin of 2.74%. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same period in the previous year, the company earned $0.81 EPS. The business’s revenue for the quarter was down 16.2% compared to the same quarter last year. On average, sell-side analysts expect that Fluor Co. will post 1.63 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, September 3rd. Fluor Co. (NEW)’s dividend payout ratio is presently 39.07%.

Fluor Co. (NEW) Company 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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Analyst Recommendations for Fluor Co. (NEW) (NYSE:FLR)

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