Fluor Co. (NEW) (FLR) Stock Price Down 17.2%

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Shares of Fluor Co. (NEW) (NYSE:FLR) fell 17.2% on Thursday . The stock traded as low as $46.12 and last traded at $46.53. 6,787,946 shares changed hands during mid-day trading, an increase of 376% from the average session volume of 1,426,286 shares. The stock had previously closed at $56.22.

Several brokerages recently weighed in on FLR. Zacks Investment Research cut shares of Fluor Co. (NEW) from a “strong-buy” rating to a “hold” rating in a research note on Friday. ValuEngine cut shares of Fluor Co. (NEW) from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup set a $66.00 price objective on shares of Fluor Co. (NEW) and gave the stock a “buy” rating in a research note on Thursday. Bank of America set a $67.00 price objective on shares of Fluor Co. (NEW) and gave the stock a “buy” rating in a research note on Thursday. Finally, MKM Partners reaffirmed a “hold” rating and set a $56.00 price target on shares of Fluor Co. (NEW) in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Fluor Co. (NEW) presently has a consensus rating of “Hold” and a consensus price target of $58.31.

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.45. The stock has a market cap 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.

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

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Meadow Creek Investment Management LLC raised its holdings in shares of Fluor Co. (NEW) by 9.4% during the second quarter. Meadow Creek Investment Management LLC now owns 12,606 shares of the construction company’s stock valued at $615,000 after purchasing an additional 1,078 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Fluor Co. (NEW) by 10.6% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 11,710 shares of the construction company’s stock valued at $571,000 after purchasing an additional 1,119 shares during the period. Sentry Investment Management LLC raised its holdings in shares of Fluor Co. (NEW) by 15.7% during the second quarter. Sentry Investment Management LLC now owns 8,420 shares of the construction company’s stock valued at $411,000 after purchasing an additional 1,145 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of Fluor Co. (NEW) by 4.2% during the second quarter. Crossmark Global Holdings Inc. now owns 28,273 shares of the construction company’s stock valued at $1,379,000 after purchasing an additional 1,150 shares during the period. Finally, Mission Wealth Management LP raised its holdings in shares of Fluor Co. (NEW) by 30.8% during the second quarter. Mission Wealth Management LP now owns 5,100 shares of the construction company’s stock valued at $249,000 after purchasing an additional 1,200 shares during the period. Hedge funds and other institutional investors own 88.48% of the company’s stock.

About Fluor Co. (NEW) (NYSE:FLR)

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.

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