ValuEngine downgraded shares of Fluor Co. (NEW) (NYSE:FLR) from a hold rating to a sell rating in a research report released on Friday.
Several other equities analysts also recently weighed in on the stock. Deutsche Bank lowered their price target on shares of Fluor Co. (NEW) from $54.00 to $49.00 and set a hold rating on the stock in a report on Tuesday, November 20th. Zacks Investment Research reaffirmed a hold rating on shares of Fluor Co. (NEW) in a report on Tuesday, November 13th. Barclays set a $55.00 price target on shares of Fluor Co. (NEW) and gave the company a hold rating in a report on Saturday, November 3rd. TheStreet downgraded shares of Fluor Co. (NEW) from a b- rating to a c rating in a report on Thursday, November 1st. Finally, Robert W. Baird lowered their price target on shares of Fluor Co. (NEW) from $59.00 to $50.00 and set a hold rating on the stock in a report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Fluor Co. (NEW) currently has an average rating of Hold and a consensus price target of $58.36.
FLR opened at $40.21 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $5.66 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 0.58 and a beta of 1.67. Fluor Co. has a 12-month low of $40.18 and a 12-month high of $62.09.
The company also recently declared 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. This represents a $0.84 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, December 3rd. Fluor Co. (NEW)’s dividend payout ratio is currently 51.53%.
In related news, Chairman David Thomas Seaton bought 5,158 shares of the stock in a transaction dated Tuesday, November 6th. The shares were purchased at an average price 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 of the company’s stock, valued at $14,623,928. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in FLR. Principal Financial Group Inc. increased its stake in shares of Fluor Co. (NEW) by 1.6% in the first quarter. Principal Financial Group Inc. now owns 215,669 shares of the construction company’s stock worth $12,340,000 after purchasing an additional 3,437 shares during the period. Bank of Montreal Can bought a new position in Fluor Co. (NEW) during the second quarter valued at about $3,687,000. Nisa Investment Advisors LLC bought a new position in Fluor Co. (NEW) during the second quarter valued at about $2,408,000. Municipal Employees Retirement System of Michigan increased its stake in Fluor Co. (NEW) by 238.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 12,230 shares of the construction company’s stock valued at $596,000 after acquiring an additional 8,620 shares during the period. Finally, Cornerstone Wealth Management LLC bought a new position in Fluor Co. (NEW) during the second quarter valued at about $220,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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