Fluor (FLR) Cut to Hold at ValuEngine

Fluor (NYSE:FLR) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, January 3rd.

Other analysts also recently issued reports about the company. TheStreet raised Fluor from a “c+” rating to a “b” rating in a research note on Thursday, December 21st. Barclays started coverage on Fluor in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $54.00 price objective for the company. KeyCorp reissued a “buy” rating and set a $50.00 price objective on shares of Fluor in a research report on Friday, September 22nd. Robert W. Baird reaffirmed a “hold” rating and issued a $40.00 target price on shares of Fluor in a research report on Tuesday, September 5th. Finally, Citigroup set a $53.00 target price on Fluor and gave the company a “buy” rating in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $49.08.

Fluor (FLR) opened at $56.15 on Wednesday. Fluor has a fifty-two week low of $37.03 and a fifty-two week high of $58.37. The firm has a market capitalization of $7,850.00, a price-to-earnings ratio of 39.27, a price-to-earnings-growth ratio of 2.56 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.56 and a debt-to-equity ratio of 0.46.

Fluor (NYSE:FLR) last issued its earnings results on Thursday, November 2nd. The construction company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.09. Fluor had a return on equity of 11.69% and a net margin of 1.03%. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same period last year, the company earned $0.03 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. equities research analysts forecast that Fluor will post 1.56 earnings per share for the current fiscal year.

In other news, Chairman David Thomas Seaton sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $47.57, for a total value of $1,902,800.00. Following the transaction, the chairman now owns 276,643 shares of the company’s stock, valued at $13,159,907.51. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jose Luis M. Bustamante sold 2,750 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $48.63, for a total value of $133,732.50. Following the transaction, the insider now directly owns 38,757 shares in the company, valued at approximately $1,884,752.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,932 shares of company stock worth $2,191,092. 1.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Mutual of America Capital Management LLC boosted its position in Fluor by 15.1% during the third quarter. Mutual of America Capital Management LLC now owns 19,761 shares of the construction company’s stock worth $832,000 after purchasing an additional 2,592 shares in the last quarter. BlueMountain Capital Management LLC boosted its position in Fluor by 105.1% during the second quarter. BlueMountain Capital Management LLC now owns 46,527 shares of the construction company’s stock worth $2,130,000 after purchasing an additional 23,837 shares in the last quarter. Wells Fargo & Company MN boosted its position in Fluor by 14.6% during the second quarter. Wells Fargo & Company MN now owns 1,233,461 shares of the construction company’s stock worth $56,466,000 after purchasing an additional 156,705 shares in the last quarter. Becker Capital Management Inc. purchased a new stake in Fluor during the third quarter worth $26,858,000. Finally, New York State Common Retirement Fund boosted its position in Fluor by 1.8% during the third quarter. New York State Common Retirement Fund now owns 303,450 shares of the construction company’s stock worth $12,775,000 after purchasing an additional 5,500 shares in the last quarter. Institutional investors own 84.15% of the company’s stock.

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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.

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