Stonebridge Capital Management Inc. Reduces Stock Position in Fluor Co. (NEW) (NYSE:FLR)

Stonebridge Capital Management Inc. cut its holdings in shares of Fluor Co. (NEW) (NYSE:FLR) by 9.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 25,513 shares of the construction company’s stock after selling 2,800 shares during the quarter. Stonebridge Capital Management Inc.’s holdings in Fluor Co. (NEW) were worth $859,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Rehmann Capital Advisory Group increased its holdings in shares of Fluor Co. (NEW) by 133.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 730 shares of the construction company’s stock valued at $27,000 after acquiring an additional 417 shares during the last quarter. First Manhattan Co. increased its holdings in shares of Fluor Co. (NEW) by 51.2% in the 1st quarter. First Manhattan Co. now owns 909 shares of the construction company’s stock valued at $33,000 after acquiring an additional 308 shares during the last quarter. Institutional & Family Asset Management LLC increased its holdings in shares of Fluor Co. (NEW) by 211.7% in the 1st quarter. Institutional & Family Asset Management LLC now owns 957 shares of the construction company’s stock valued at $35,000 after acquiring an additional 650 shares during the last quarter. YorkBridge Wealth Partners LLC increased its holdings in shares of Fluor Co. (NEW) by 50.8% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,292 shares of the construction company’s stock valued at $48,000 after acquiring an additional 435 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Fluor Co. (NEW) by 34.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,498 shares of the construction company’s stock valued at $55,000 after acquiring an additional 381 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

FLR traded up $0.30 during trading on Wednesday, reaching $33.32. 507,144 shares of the company were exchanged, compared to its average volume of 1,053,760. The firm has a market capitalization of $4.61 billion, a PE ratio of 15.50, a P/E/G ratio of 1.56 and a beta of 2.04. The business’s 50 day moving average price is $31.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.04 and a current ratio of 1.49. Fluor Co. has a 52 week low of $27.69 and a 52 week high of $60.60.

Fluor Co. (NEW) (NYSE:FLR) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.68). The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.80 billion. Fluor Co. (NEW) had a return on equity of 8.90% and a net margin of 0.99%. Fluor Co. (NEW)’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 earnings per share. On average, analysts forecast that Fluor Co. will post 1.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.84 dividend on an annualized basis and a yield of 2.52%. Fluor Co. (NEW)’s dividend payout ratio (DPR) is presently 39.07%.

In other Fluor Co. (NEW) news, CEO Carlos M. Hernandez purchased 17,001 shares of Fluor Co. (NEW) stock in a transaction on Monday, May 13th. The stock was bought at an average price of $29.52 per share, for a total transaction of $501,869.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Alan L. Boeckmann purchased 16,000 shares of Fluor Co. (NEW) stock in a transaction on Thursday, May 9th. The shares were acquired at an average price of $29.81 per share, with a total value of $476,960.00. Following the transaction, the insider now directly owns 17,250 shares in the company, valued at approximately $514,222.50. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

FLR has been the subject of a number of research analyst reports. Citigroup set a $47.00 price target on Quanta Services and gave the company a “buy” rating in a report on Friday, May 3rd. ValuEngine upgraded WEX from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th. Canaccord Genuity restated a “buy” rating and set a GBX 620 ($8.10) price objective on shares of in a research note on Wednesday, July 10th. Goldman Sachs Group set a €40.50 ($47.09) price objective on Koninklijke Philips and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, DA Davidson lowered their price objective on Sally Beauty to $16.50 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $44.73.

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

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