Fluor Corp. (NYSE:FLR) was downgraded by investment analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday. They currently have a $49.00 price target on the stock, down from their previous price target of $53.00. Credit Suisse Group AG’s price objective would suggest a potential downside of 10.62% from the stock’s previous close.
A number of other equities analysts have also recently commented on FLR. MKM Partners set a $52.00 price target on Fluor Corp. and gave the stock a “hold” rating in a report on Friday, August 5th. Bank of America Corp. reiterated a “sell” rating and set a $50.00 price target on shares of Fluor Corp. in a report on Friday, August 5th. DA Davidson reiterated a “buy” rating on shares of Fluor Corp. in a report on Friday, August 5th. Zacks Investment Research upgraded Fluor Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Janney Montgomery Scott restated a “buy” rating on shares of Fluor Corp. in a report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. Fluor Corp. currently has a consensus rating of “Hold” and an average target price of $50.23.
Shares of Fluor Corp. (NYSE:FLR) traded up 1.11% during trading on Tuesday, hitting $54.82. The stock had a trading volume of 1,148,022 shares. The stock has a market capitalization of $7.63 billion, a P/E ratio of 48.51 and a beta of 1.61. Fluor Corp. has a 12-month low of $39.48 and a 12-month high of $55.69. The stock’s 50-day moving average is $50.44 and its 200-day moving average is $51.17.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Friday, December 2nd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.84 annualized dividend and a yield of 1.53%. Fluor Corp.’s dividend payout ratio is currently 74.34%.
A number of hedge funds and other institutional investors have recently made changes to their positions in FLR. Citizens Financial Group Inc RI increased its position in shares of Fluor Corp. by 11.1% in the first quarter. Citizens Financial Group Inc RI now owns 2,006 shares of the company’s stock valued at $108,000 after buying an additional 200 shares during the period. Virtus Investment Advisers Inc. bought a new position in shares of Fluor Corp. during the third quarter valued at about $112,000. Huntington National Bank increased its position in shares of Fluor Corp. by 8.2% in the third quarter. Huntington National Bank now owns 2,196 shares of the company’s stock valued at $112,000 after buying an additional 166 shares during the period. BlueMountain Capital Management LLC increased its position in shares of Fluor Corp. by 107.3% in the first quarter. BlueMountain Capital Management LLC now owns 2,303 shares of the company’s stock valued at $124,000 after buying an additional 1,192 shares during the period. Finally, Point72 Asia Hong Kong Ltd bought a new position in shares of Fluor Corp. during the second quarter valued at about $128,000. Institutional investors and hedge funds own 83.86% of the company’s stock.
Fluor Corp. Company Profile