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

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

FLR has been the subject of a number of other reports. Citigroup set a $47.00 target price on Quanta Services and gave the stock a buy rating in a research note on Friday, May 3rd. ValuEngine raised WEX from a hold rating to a buy rating in a research note on Thursday, June 13th. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a buy rating to a hold rating in a research note on Tuesday, May 7th. DA Davidson cut their target price on Sally Beauty to $16.50 and set a neutral rating for the company in a research note on Tuesday, May 7th. Finally, MKM Partners set a $39.00 target price on Fluor Co. (NEW) and gave the stock a hold rating in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Fluor Co. (NEW) presently has an average rating of Hold and an average price target of $44.73.

Fluor Co. (NEW) stock opened at $32.88 on Wednesday. Fluor Co. has a twelve month low of $27.69 and a twelve month high of $60.60. The stock’s 50 day moving average is $30.63. 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 firm has a market cap of $4.60 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.44 and a beta of 2.04.

Fluor Co. (NEW) (NYSE:FLR) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.68). The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.80 billion. Fluor Co. (NEW) had a return on equity of 8.90% and a net margin of 0.99%. The firm’s revenue was down 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, equities analysts predict that Fluor Co. will post 1.76 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Friday, May 31st. Fluor Co. (NEW)’s dividend payout ratio (DPR) is 39.07%.

In other news, CEO Carlos M. Hernandez acquired 17,001 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average cost of $29.52 per share, with a total value of $501,869.52. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alan L. Boeckmann acquired 16,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average cost of $29.81 per share, with a total value of $476,960.00. Following the completion of the purchase, the insider now directly owns 17,250 shares in the company, valued at $514,222.50. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLR. Rehmann Capital Advisory Group increased its stake in Fluor Co. (NEW) by 133.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 730 shares of the construction company’s stock valued at $27,000 after purchasing an additional 417 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new position in Fluor Co. (NEW) in the 4th quarter valued at approximately $33,000. First Manhattan Co. increased its stake in Fluor Co. (NEW) by 51.2% in the 1st quarter. First Manhattan Co. now owns 909 shares of the construction company’s stock valued at $33,000 after purchasing an additional 308 shares in the last quarter. Institutional & Family Asset Management LLC increased its stake in Fluor Co. (NEW) by 211.7% in the 1st quarter. Institutional & Family Asset Management LLC now owns 957 shares of the construction company’s stock valued at $35,000 after purchasing an additional 650 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC increased its stake in Fluor Co. (NEW) by 50.8% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,292 shares of the construction company’s stock valued at $48,000 after purchasing an additional 435 shares in the last quarter. 89.32% of the stock is owned by hedge funds and other institutional investors.

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

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