KBC Group NV Has $805,000 Position in Fluor Corporation (FLR)
KBC Group NV cut its stake in shares of Fluor Corporation (NYSE:FLR) by 22.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,295 shares of the construction company’s stock after selling 4,308 shares during the period. KBC Group NV’s holdings in Fluor Corporation were worth $805,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in Fluor Corporation during the fourth quarter valued at about $3,242,000. Cadence Capital Management LLC acquired a new stake in shares of Fluor Corporation during the fourth quarter valued at $215,000. ING Groep NV increased its stake in shares of Fluor Corporation by 54.3% in the fourth quarter. ING Groep NV now owns 8,011 shares of the construction company’s stock valued at $420,000 after buying an additional 2,818 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Fluor Corporation during the fourth quarter valued at $253,000. Finally, Comerica Bank increased its stake in shares of Fluor Corporation by 5.3% in the fourth quarter. Comerica Bank now owns 44,043 shares of the construction company’s stock valued at $2,388,000 after buying an additional 2,197 shares in the last quarter. Institutional investors own 83.32% of the company’s stock.
Shares of Fluor Corporation (FLR) opened at 45.04 on Friday. The firm has a market cap of $6.30 billion, a P/E ratio of 26.65 and a beta of 1.42. The company’s 50 day moving average price is $46.83 and its 200-day moving average price is $52.16. Fluor Corporation has a 12-month low of $44.02 and a 12-month high of $58.37.
Fluor Corporation (NYSE:FLR) last announced its earnings results on Thursday, May 4th. The construction company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by $0.10. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.83 billion. Fluor Corporation had a net margin of 1.22% and a return on equity of 13.89%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. On average, equities research analysts anticipate that Fluor Corporation will post $2.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Friday, June 2nd will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.87%. Fluor Corporation’s dividend payout ratio (DPR) is presently 50.00%.
Several equities research analysts have weighed in on the company. Canaccord Genuity reissued a “hold” rating and issued a $57.00 price target on shares of Fluor Corporation in a report on Friday, February 17th. Credit Suisse Group set a $58.00 price target on Fluor Corporation and gave the stock a “hold” rating in a report on Saturday, February 18th. Citigroup Inc. reissued a “buy” rating and issued a $65.00 price target on shares of Fluor Corporation in a report on Monday, March 13th. Zacks Investment Research raised Fluor Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Monday, May 1st. Finally, BidaskClub raised Fluor Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $54.91.
Fluor Corporation Company Profile
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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