Fluor Co. (NEW) (NYSE:FLR) Short Interest Down 23.6% in November

Fluor Co. (NEW) (NYSE:FLR) saw a large decline in short interest in the month of November. As of November 29th, there was short interest totalling 7,930,000 shares, a decline of 23.6% from the November 14th total of 10,380,000 shares. Based on an average daily trading volume, of 2,430,000 shares, the days-to-cover ratio is presently 3.3 days. Approximately 6.1% of the company’s shares are short sold.

A number of institutional investors have recently modified their holdings of the business. TRUE Private Wealth Advisors acquired a new stake in shares of Fluor Co. (NEW) during the 2nd quarter worth approximately $35,000. Skandinaviska Enskilda Banken AB publ bought a new position in Fluor Co. (NEW) in the second quarter valued at about $64,000. Coastal Investment Advisors Inc. grew its position in Fluor Co. (NEW) by 674.0% in the second quarter. Coastal Investment Advisors Inc. now owns 1,904 shares of the construction company’s stock valued at $65,000 after acquiring an additional 1,658 shares during the last quarter. Synovus Financial Corp raised its stake in Fluor Co. (NEW) by 87.0% during the second quarter. Synovus Financial Corp now owns 2,150 shares of the construction company’s stock worth $72,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Fluor Co. (NEW) by 126.9% during the third quarter. Quadrant Capital Group LLC now owns 2,485 shares of the construction company’s stock worth $45,000 after acquiring an additional 1,390 shares in the last quarter. Institutional investors and hedge funds own 81.23% of the company’s stock.

Shares of FLR opened at $17.24 on Friday. The firm has a market cap of $2.36 billion, a P/E ratio of 10.07 and a beta of 2.21. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.12 and a current ratio of 1.38. Fluor Co. has a 52 week low of $16.00 and a 52 week high of $41.91. The firm’s 50-day simple moving average is $17.98 and its 200 day simple moving average is $22.89.

Fluor Co. (NEW) (NYSE:FLR) last announced its earnings results on Thursday, October 31st. The construction company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.33. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.69 billion. Fluor Co. (NEW) had a positive return on equity of 8.94% and a negative net margin of 7.66%. As a group, equities analysts forecast that Fluor Co. will post 1.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Wednesday, December 4th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Tuesday, December 3rd. Fluor Co. (NEW)’s dividend payout ratio is 18.60%.

Several equities research analysts have issued reports on FLR shares. Deutsche Bank set a $17.00 price target on Fluor Co. (NEW) and gave the stock a “hold” rating in a report on Friday, November 1st. ValuEngine lowered Fluor Co. (NEW) from a “hold” rating to a “sell” rating in a research report on Friday, November 29th. UBS Group reduced their target price on shares of Fluor Co. (NEW) from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Bank of America set a $17.00 price objective on shares of Fluor Co. (NEW) and gave the stock a “sell” rating in a research report on Tuesday, September 24th. Finally, Credit Suisse Group decreased their target price on shares of Fluor Co. (NEW) from $31.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $27.50.

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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