Barclays Begins Coverage on Fluor (FLR)

Barclays initiated coverage on shares of Fluor (NYSE:FLR) in a research report sent to investors on Tuesday, Marketbeat reports. The firm issued an equal weight rating and a $54.00 price target on the construction company’s stock.

Several other analysts have also issued reports on FLR. Stephens restated an overweight rating and set a $50.00 target price (up from $44.00) on shares of Fluor in a research report on Saturday, October 14th. Robert W. Baird upped their price target on shares of Fluor from $40.00 to $48.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. KeyCorp reiterated a buy rating and issued a $50.00 price target on shares of Fluor in a research report on Friday, September 22nd. Seaport Global Securities reiterated a neutral rating and issued a $44.00 price target (down from $50.00) on shares of Fluor in a research report on Wednesday, October 11th. Finally, UBS upped their price target on shares of Fluor from $43.00 to $46.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $48.00.

Shares of Fluor (NYSE:FLR) traded down $0.16 during midday trading on Tuesday, reaching $49.87. 1,201,600 shares of the company traded hands, compared to its average volume of 1,414,775. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.56 and a quick ratio of 1.18. The company has a market capitalization of $6,997.96, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 3.49 and a beta of 1.46. Fluor has a 12 month low of $37.03 and a 12 month high of $58.37.

Fluor (NYSE:FLR) last announced its earnings results on Thursday, November 2nd. The construction company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.09. The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.73 billion. Fluor had a net margin of 1.03% and a return on equity of 11.69%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 earnings per share. analysts predict that Fluor will post 1.56 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 5th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.68%. Fluor’s payout ratio is currently 58.74%.

In other news, insider Jose Luis M. Bustamante sold 2,750 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $48.63, for a total value of $133,732.50. Following the transaction, the insider now owns 38,757 shares of the company’s stock, valued at $1,884,752.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman David Thomas Seaton sold 40,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $47.57, for a total transaction of $1,902,800.00. Following the completion of the transaction, the chairman now directly owns 276,643 shares in the company, valued at approximately $13,159,907.51. The disclosure for this sale can be found here. Insiders sold 45,932 shares of company stock worth $2,191,092 in the last three months. Insiders own 1.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Fluor by 2.6% in the second quarter. Vanguard Group Inc. now owns 13,657,238 shares of the construction company’s stock worth $625,228,000 after buying an additional 345,001 shares in the last quarter. BlackRock Inc. raised its stake in Fluor by 4.7% during the second quarter. BlackRock Inc. now owns 9,447,760 shares of the construction company’s stock valued at $432,519,000 after purchasing an additional 422,641 shares in the last quarter. CI Global Investments Inc. raised its stake in Fluor by 66.8% during the second quarter. CI Global Investments Inc. now owns 4,721,828 shares of the construction company’s stock valued at $216,165,000 after purchasing an additional 1,890,300 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Fluor by 53.8% during the third quarter. Artisan Partners Limited Partnership now owns 4,000,036 shares of the construction company’s stock valued at $168,402,000 after purchasing an additional 1,399,145 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Fluor by 3.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,385,281 shares of the construction company’s stock valued at $100,421,000 after purchasing an additional 90,626 shares in the last quarter. 84.30% of the stock is currently owned by hedge funds and other institutional investors.

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About Fluor

Fluor Corporation (Fluor) is a holding company. The Company operates its business in four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Government, and Maintenance, Modification & Asset Integrity (MMAI). The Company, through its subsidiaries, offers professional services providing engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services on a global basis.

Analyst Recommendations for Fluor (NYSE:FLR)

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