Teacher Retirement System of Texas Reduces Holdings in Fluor Co. (FLR)

Teacher Retirement System of Texas reduced its position in Fluor Co. (NYSE:FLR) by 19.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 314,279 shares of the construction company’s stock after selling 75,392 shares during the period. Teacher Retirement System of Texas owned about 0.22% of Fluor worth $17,983,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FLR. American Beacon Advisors Inc. acquired a new position in shares of Fluor during the 4th quarter valued at about $120,000. SeaCrest Wealth Management LLC acquired a new position in shares of Fluor during the 4th quarter valued at about $135,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Fluor during the 4th quarter valued at about $145,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Fluor during the 1st quarter valued at about $184,000. Finally, Comerica Securities Inc. acquired a new position in shares of Fluor during the 1st quarter valued at about $200,000. 85.76% of the stock is currently owned by institutional investors.

Shares of NYSE:FLR opened at $49.90 on Friday. Fluor Co. has a twelve month low of $37.03 and a twelve month high of $62.09. The company has a market cap of $7.00 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48. The company has a quick ratio of 1.01, a current ratio of 1.40 and a debt-to-equity ratio of 0.51.

Fluor (NYSE:FLR) last announced its earnings results on Thursday, May 3rd. The construction company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.25). Fluor had a net margin of 0.58% and a return on equity of 11.08%. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.69 billion. During the same quarter in the previous year, the company earned $0.43 EPS. Fluor’s revenue for the quarter was down .3% compared to the same quarter last year. equities research analysts forecast that Fluor Co. will post 2.88 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Friday, June 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, May 31st. This represents a $0.84 annualized dividend and a yield of 1.68%. Fluor’s payout ratio is 51.53%.

In other Fluor news, CFO Bruce A. Stanski sold 3,718 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $57.44, for a total value of $213,561.92. Following the completion of the sale, the chief financial officer now owns 61,802 shares in the company, valued at approximately $3,549,906.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter J. Fluor acquired 50,000 shares of Fluor stock in a transaction on Tuesday, May 8th. The stock was purchased at an average price of $44.54 per share, with a total value of $2,227,000.00. Following the transaction, the director now directly owns 141,120 shares in the company, valued at approximately $6,285,484.80. The disclosure for this purchase can be found here. Insiders sold a total of 121,218 shares of company stock valued at $6,953,603 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

FLR has been the topic of a number of analyst reports. Credit Suisse Group lowered their price objective on Fluor to $73.00 and set an “outperform” rating on the stock in a report on Monday, May 7th. Canaccord Genuity reissued a “buy” rating and set a $64.00 price objective on shares of Fluor in a report on Wednesday, February 21st. Citigroup reissued a “buy” rating on shares of Fluor in a report on Monday, April 2nd. ValuEngine raised Fluor from a “sell” rating to a “hold” rating in a report on Thursday. Finally, KeyCorp reissued an “overweight” rating and set a $64.00 price objective (up previously from $61.00) on shares of Fluor in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the stock. Fluor currently has a consensus rating of “Hold” and a consensus target price of $54.07.

Fluor Profile

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. It operates through four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Diversified Services; and Government.

Institutional Ownership by Quarter for Fluor (NYSE:FLR)

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