Profund Advisors LLC Takes Position in Fluor Co. (NEW) (NYSE:FLR)

Profund Advisors LLC purchased a new stake in Fluor Co. (NEW) (NYSE:FLR) during the second quarter, Holdings Channel reports. The fund purchased 10,515 shares of the construction company’s stock, valued at approximately $354,000.

Several other institutional investors also recently added to or reduced their stakes in FLR. Dimensional Fund Advisors LP raised its stake in shares of Fluor Co. (NEW) by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,101,840 shares of the construction company’s stock valued at $67,678,000 after acquiring an additional 9,322 shares during the period. Geode Capital Management LLC raised its stake in shares of Fluor Co. (NEW) by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 1,941,928 shares of the construction company’s stock valued at $62,426,000 after acquiring an additional 139,959 shares during the period. American International Group Inc. raised its stake in shares of Fluor Co. (NEW) by 38.6% in the 1st quarter. American International Group Inc. now owns 69,554 shares of the construction company’s stock valued at $2,560,000 after acquiring an additional 19,384 shares during the period. CIBC Asset Management Inc raised its stake in shares of Fluor Co. (NEW) by 4.6% in the 1st quarter. CIBC Asset Management Inc now owns 13,841 shares of the construction company’s stock valued at $509,000 after acquiring an additional 610 shares during the period. Finally, Raymond James & Associates raised its stake in shares of Fluor Co. (NEW) by 10.1% in the 1st quarter. Raymond James & Associates now owns 310,465 shares of the construction company’s stock valued at $11,425,000 after acquiring an additional 28,383 shares during the period. 89.60% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Fluor Co. (NEW) in a research note on Thursday, August 22nd. They issued an “underperform” rating and a $17.00 price target on the stock. TheStreet downgraded shares of Fluor Co. (NEW) from a “c” rating to a “d+” rating in a research note on Friday, August 2nd. Barclays reissued a “hold” rating and issued a $28.00 price target on shares of Fluor Co. (NEW) in a research note on Sunday, August 4th. Citigroup reduced their price target on shares of Fluor Co. (NEW) from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Credit Suisse Group reduced their price target on shares of Fluor Co. (NEW) from $41.00 to $31.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Three 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’s stock. Fluor Co. (NEW) has an average rating of “Hold” and an average target price of $34.45.

FLR traded down $0.76 during trading hours on Friday, hitting $20.15. 4,211,347 shares of the company’s stock were exchanged, compared to its average volume of 2,580,110. Fluor Co. has a 12-month low of $16.25 and a 12-month high of $60.60. The firm has a 50 day moving average of $19.31 and a 200 day moving average of $30.29. The firm has a market cap of $2.91 billion, a P/E ratio of 9.37 and a beta of 2.19. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.66.

Fluor Co. (NEW) (NYSE:FLR) last announced its earnings results 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 7.09% and a negative net margin of 2.74%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same period in the previous year, the company earned $0.81 earnings per share. Fluor Co. (NEW)’s quarterly revenue was down 16.2% on a year-over-year basis. As a group, research analysts expect that Fluor Co. will post 0.84 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 4th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Tuesday, September 3rd. Fluor Co. (NEW)’s payout ratio is currently 39.07%.

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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