Today The Fluor Corporation (FLR) Upgraded by Johnson Rice to Buy

Today The Fluor Corporation (FLR) Upgraded by Johnson Rice to Buy

Fluor Corporation (NYSE:FLR) was upgraded by equities research analysts at Johnson Rice from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Other equities analysts also recently issued reports about the company. Citigroup Inc. upgraded Fluor Corporation from a “neutral” rating to a “buy” rating in a report on Friday, December 9th. Deutsche Bank AG upgraded Fluor Corporation from a “hold” rating to a “buy” rating and raised their price objective for the stock from $48.00 to $63.00 in a report on Thursday, January 12th. Zacks Investment Research upgraded Fluor Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 4th. Canaccord Genuity restated a “hold” rating and issued a $48.00 price objective on shares of Fluor Corporation in a report on Wednesday, January 4th. Finally, MKM Partners set a $45.00 target price on Fluor Corporation and gave the company a “hold” rating in a report on Sunday, November 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. Fluor Corporation currently has a consensus rating of “Hold” and a consensus target price of $50.77.

Shares of Fluor Corporation (NYSE:FLR) traded up 3.83% during trading on Wednesday, reaching $56.87. The company had a trading volume of 372,116 shares. The firm has a 50-day moving average price of $53.96 and a 200-day moving average price of $52.00. Fluor Corporation has a 52-week low of $41.06 and a 52-week high of $57.78. The company has a market capitalization of $7.92 billion, a P/E ratio of 50.33 and a beta of 1.60.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Friday, December 2nd were given a $0.21 dividend. The ex-dividend date was Wednesday, November 30th. This represents a $0.84 annualized dividend and a dividend yield of 1.53%. Fluor Corporation’s payout ratio is 74.34%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Huntington National Bank raised its position in shares of Fluor Corporation 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 last quarter. Virtus Investment Advisers Inc. purchased a new position in shares of Fluor Corporation during the third quarter valued at approximately $112,000. Point72 Asia Hong Kong Ltd purchased a new position in shares of Fluor Corporation during the second quarter valued at approximately $128,000. Victory Capital Management Inc. raised its position in shares of Fluor Corporation by 49.6% in the third quarter. Victory Capital Management Inc. now owns 2,659 shares of the company’s stock valued at $136,000 after buying an additional 882 shares during the last quarter. Finally, SRB Corp raised its position in shares of Fluor Corporation by 3.9% in the third quarter. SRB Corp now owns 2,945 shares of the company’s stock valued at $151,000 after buying an additional 110 shares during the last quarter. Institutional investors own 85.00% of the company’s stock.

About Fluor Corporation

Fluor Corporation (Fluor) is a holding company. The Company is a professional services company. The Company provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services. It operates in five segments: Oil & Gas, Industrial & Infrastructure, Government, Global Services and Power.

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