Berkshire Asset Management LLC PA Purchases Shares of 3,722 Fluor Co. (NEW) (FLR)

Berkshire Asset Management LLC PA purchased a new position in shares of Fluor Co. (NEW) (NYSE:FLR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,722 shares of the construction company’s stock, valued at approximately $216,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Bank of Montreal Can raised its position in shares of Fluor Co. (NEW) by 33.1% during the 3rd quarter. Bank of Montreal Can now owns 100,629 shares of the construction company’s stock worth $5,847,000 after buying an additional 25,045 shares in the last quarter. Chesley Taft & Associates LLC raised its position in shares of Fluor Co. (NEW) by 152.2% during the 3rd quarter. Chesley Taft & Associates LLC now owns 13,150 shares of the construction company’s stock worth $764,000 after buying an additional 7,935 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Fluor Co. (NEW) in the 3rd quarter worth approximately $933,000. United Services Automobile Association raised its holdings in shares of Fluor Co. (NEW) by 37.2% in the 2nd quarter. United Services Automobile Association now owns 67,048 shares of the construction company’s stock worth $3,271,000 after purchasing an additional 18,172 shares in the last quarter. Finally, Royal London Asset Management Ltd. bought a new stake in shares of Fluor Co. (NEW) in the 2nd quarter worth approximately $2,781,000. Institutional investors own 88.48% of the company’s stock.

A number of research firms recently commented on FLR. Zacks Investment Research downgraded shares of Fluor Co. (NEW) from a “strong-buy” rating to a “hold” rating in a report on Friday. ValuEngine downgraded shares of Fluor Co. (NEW) from a “buy” rating to a “hold” rating in a report on Friday. Canaccord Genuity upgraded shares of Fluor Co. (NEW) from a “hold” rating to a “buy” rating in a report on Friday, August 17th. UBS Group set a $69.00 target price on shares of Fluor Co. (NEW) and gave the stock a “buy” rating in a report on Thursday. Finally, Bank of America set a $67.00 target price on shares of Fluor Co. (NEW) and gave the stock a “buy” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $58.31.

NYSE FLR opened at $46.71 on Friday. The company has a market capitalization of $8.17 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 0.74 and a beta of 1.46. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.45. Fluor Co. has a 12 month low of $42.27 and a 12 month high of $62.09.

Fluor Co. (NEW) (NYSE:FLR) last released its earnings results on Thursday, August 2nd. The construction company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.11. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.58 billion. Fluor Co. (NEW) had a net margin of 1.28% and a return on equity of 11.63%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. On average, research analysts expect that Fluor Co. will post 2.96 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Tuesday, September 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Friday, August 31st. Fluor Co. (NEW)’s dividend payout ratio (DPR) is currently 51.53%.

About Fluor Co. (NEW)

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. The company's Energy & Chemicals segment offers a range of design, engineering, procurement, construction, fabrication, and project management services in the upstream, midstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas and pipeline markets.

Featured Story: How to Invest in Growth Stocks

Institutional Ownership by Quarter for Fluor Co. (NEW) (NYSE:FLR)

Receive News & Ratings for Fluor Co. (NEW) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fluor Co. (NEW) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply