Insider Buying: Fluor Co. (NEW) (FLR) CEO Purchases 17,001 Shares of Stock

Fluor Co. (NEW) (NYSE:FLR) CEO Carlos M. Hernandez bought 17,001 shares of Fluor Co. (NEW) stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $29.52 per share, with a total value of $501,869.52. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of FLR opened at $29.50 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.49 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $4.16 billion, a PE ratio of 13.72, a P/E/G ratio of 1.38 and a beta of 1.77. Fluor Co. has a 52-week low of $28.00 and a 52-week high of $60.60.

Fluor Co. (NEW) (NYSE:FLR) last announced its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.68). The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Fluor Co. (NEW) had a net margin of 0.99% and a return on equity of 8.90%. The business’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS. On average, equities research analysts forecast that Fluor Co. will post 1.66 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be issued a $0.21 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.85%. Fluor Co. (NEW)’s dividend payout ratio is presently 39.07%.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc increased its holdings in Fluor Co. (NEW) by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 14,347,886 shares of the construction company’s stock valued at $833,612,000 after acquiring an additional 175,647 shares in the last quarter. BlackRock Inc. increased its holdings in Fluor Co. (NEW) by 11.2% during the 1st quarter. BlackRock Inc. now owns 10,776,759 shares of the construction company’s stock valued at $396,583,000 after acquiring an additional 1,083,079 shares in the last quarter. FMR LLC increased its holdings in Fluor Co. (NEW) by 0.9% during the 4th quarter. FMR LLC now owns 5,335,346 shares of the construction company’s stock valued at $171,799,000 after acquiring an additional 47,411 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Fluor Co. (NEW) by 4.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,209,453 shares of the construction company’s stock valued at $154,908,000 after acquiring an additional 185,100 shares in the last quarter. Finally, Sound Shore Management Inc. CT increased its holdings in Fluor Co. (NEW) by 40.5% during the 4th quarter. Sound Shore Management Inc. CT now owns 3,153,230 shares of the construction company’s stock valued at $101,534,000 after acquiring an additional 908,546 shares in the last quarter. Hedge funds and other institutional investors own 84.87% of the company’s stock.

Several analysts have recently commented on the stock. Citigroup reduced their target price on shares of Fluor Co. (NEW) from $56.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. DA Davidson cut their price target on shares of Fluor Co. (NEW) to $32.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Zacks Investment Research upgraded shares of Fluor Co. (NEW) from a “sell” rating to a “hold” rating in a report on Monday, March 11th. UBS Group cut their price target on shares of Fluor Co. (NEW) from $62.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, ValuEngine upgraded shares of Fluor Co. (NEW) from a “strong sell” rating to a “sell” rating in a report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Fluor Co. (NEW) presently has a consensus rating of “Hold” and an average target price of $46.45.

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Fluor Co. (NEW) Company Profile

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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