ValuEngine Lowers Fluor Co. (NEW) (FLR) to Hold

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ValuEngine cut shares of Fluor Co. (NEW) (NYSE:FLR) from a buy rating to a hold rating in a report released on Friday.

Several other research analysts have also weighed in on FLR. Zacks Investment Research upgraded Fluor Co. (NEW) from a hold rating to a buy rating and set a $54.00 target price on the stock in a report on Wednesday, July 4th. TheStreet upgraded Fluor Co. (NEW) from a c rating to a b- rating in a report on Thursday, August 2nd. UBS Group upgraded Fluor Co. (NEW) from a neutral rating to a buy rating and lifted their target price for the stock from $48.00 to $69.00 in a report on Monday, August 13th. Canaccord Genuity upgraded Fluor Co. (NEW) from a hold rating to a buy rating in a report on Friday, August 17th. Finally, MKM Partners set a $56.00 target price on Fluor Co. (NEW) and gave the stock a hold rating in a report on Wednesday, September 19th. 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) has an average rating of Hold and an average price target of $58.31.

Shares of Fluor Co. (NEW) stock traded up $0.18 during trading on Friday, reaching $46.71. 3,446,811 shares of the company were exchanged, compared to its average volume of 1,436,523. The company has a quick ratio of 1.03, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Fluor Co. has a twelve month low of $42.27 and a twelve month high of $62.09. The stock has a market cap of $8.17 billion, a PE 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 announced its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.11. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.58 billion. Fluor Co. (NEW) had a return on equity of 11.63% and a net margin of 1.28%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 earnings per share. Analysts expect that Fluor Co. will post 2.96 EPS for the current fiscal year.

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

Several institutional investors have recently modified their holdings of the company. Artisan Partners Limited Partnership raised its holdings in Fluor Co. (NEW) by 10.1% during the second quarter. Artisan Partners Limited Partnership now owns 5,865,827 shares of the construction company’s stock worth $286,135,000 after acquiring an additional 535,887 shares in the last quarter. Ashler Capital LLC raised its holdings in Fluor Co. (NEW) by 27.2% during the second quarter. Ashler Capital LLC now owns 5,099,250 shares of the construction company’s stock worth $248,741,000 after acquiring an additional 1,091,110 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Fluor Co. (NEW) by 11.1% during the second quarter. Bank of New York Mellon Corp now owns 4,738,292 shares of the construction company’s stock worth $231,133,000 after acquiring an additional 475,286 shares in the last quarter. Bank of America Corp DE raised its holdings in Fluor Co. (NEW) by 62.3% during the second quarter. Bank of America Corp DE now owns 2,256,406 shares of the construction company’s stock worth $110,066,000 after acquiring an additional 866,355 shares in the last quarter. Finally, Boston Partners raised its holdings in Fluor Co. (NEW) by 2.5% during the second quarter. Boston Partners now owns 1,983,921 shares of the construction company’s stock worth $96,776,000 after acquiring an additional 47,578 shares in the last quarter. Institutional investors own 88.48% of the company’s stock.

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.

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Analyst Recommendations for Fluor Co. (NEW) (NYSE:FLR)

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