Canaccord Genuity Increases Fluor Co. (NEW) (NYSE:FLR) Price Target to $35.00

Fluor Co. (NEW) (NYSE:FLR) had its price objective increased by Canaccord Genuity from $32.00 to $35.00 in a report issued on Wednesday morning, The Fly reports. The brokerage currently has a hold rating on the construction company’s stock.

Several other equities analysts have also commented on FLR. ValuEngine raised WEX from a hold rating to a buy rating in a research note on Thursday, June 13th. DA Davidson cut their price objective on Sally Beauty to $16.50 and set a neutral rating on the stock in a report on Tuesday, May 7th. Goldman Sachs Group set a €40.50 ($47.09) price objective on Koninklijke Philips and gave the company a buy rating in a report on Tuesday, May 7th. UBS Group boosted their price objective on Zayo Group from $30.00 to $35.00 and gave the company a neutral rating in a report on Thursday, May 9th. Finally, Citigroup set a $47.00 price objective on Quanta Services and gave the company a buy rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $44.73.

Shares of Fluor Co. (NEW) stock opened at $32.88 on Wednesday. Fluor Co. has a 52 week low of $27.69 and a 52 week high of $60.60. The company has a fifty day simple moving average of $30.63. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.44 and a beta of 2.04. The company has a current ratio of 1.49, a quick ratio of 1.04 and a debt-to-equity ratio of 0.53.

Fluor Co. (NEW) (NYSE:FLR) last announced its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.68). Fluor Co. (NEW) had a net margin of 0.99% and a return on equity of 8.90%. The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the company earned $0.56 EPS. The business’s revenue for the quarter was down 13.1% on a year-over-year basis. On average, research analysts expect that Fluor Co. will post 1.76 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Monday, June 3rd were issued a $0.21 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. Fluor Co. (NEW)’s dividend payout ratio is presently 39.07%.

In related news, CEO Carlos M. Hernandez purchased 17,001 shares of the business’s stock in a transaction on Monday, May 13th. The shares were bought at an average price of $29.52 per share, for a total transaction of $501,869.52. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alan L. Boeckmann purchased 16,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were bought at an average price of $29.81 per share, for a total transaction of $476,960.00. Following the acquisition, the insider now owns 17,250 shares in the company, valued at $514,222.50. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FLR. Clearbridge Investments LLC increased its holdings in Fluor Co. (NEW) by 23.0% during the 1st quarter. Clearbridge Investments LLC now owns 11,891,068 shares of the construction company’s stock worth $437,591,000 after purchasing an additional 2,222,261 shares during the period. 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 worth $396,583,000 after purchasing an additional 1,083,079 shares during the period. Two Sigma Investments LP increased its holdings in Fluor Co. (NEW) by 316.0% during the 4th quarter. Two Sigma Investments LP now owns 977,876 shares of the construction company’s stock worth $31,488,000 after purchasing an additional 742,827 shares during the period. Fairview Capital Investment Management LLC increased its holdings in Fluor Co. (NEW) by 268.9% during the 1st quarter. Fairview Capital Investment Management LLC now owns 844,255 shares of the construction company’s stock worth $31,068,000 after purchasing an additional 615,415 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in Fluor Co. (NEW) by 133.0% during the 4th quarter. Two Sigma Advisers LP now owns 875,500 shares of the construction company’s stock worth $28,191,000 after purchasing an additional 499,820 shares during the period. Institutional investors own 89.32% of the company’s stock.

About Fluor Co. (NEW)

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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