Hartford Investment Management Co. Trims Holdings in Fluor Co. (NEW) (NYSE:FLR)

Hartford Investment Management Co. trimmed its stake in shares of Fluor Co. (NEW) (NYSE:FLR) by 30.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,682 shares of the construction company’s stock after selling 6,799 shares during the period. Hartford Investment Management Co.’s holdings in Fluor Co. (NEW) were worth $577,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. First Hawaiian Bank grew its position in Fluor Co. (NEW) by 8.2% in the fourth quarter. First Hawaiian Bank now owns 3,948 shares of the construction company’s stock valued at $127,000 after purchasing an additional 300 shares in the last quarter. First Manhattan Co. grew its position in Fluor Co. (NEW) by 51.2% in the first 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. Fruth Investment Management grew its position in Fluor Co. (NEW) by 5.4% in the fourth quarter. Fruth Investment Management now owns 9,800 shares of the construction company’s stock valued at $315,000 after purchasing an additional 500 shares in the last quarter. Gulf International Bank UK Ltd grew its position in Fluor Co. (NEW) by 1.6% in the first quarter. Gulf International Bank UK Ltd now owns 32,320 shares of the construction company’s stock valued at $1,189,000 after purchasing an additional 500 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Fluor Co. (NEW) by 8.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 6,669 shares of the construction company’s stock valued at $246,000 after purchasing an additional 529 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

A number of research analysts recently weighed in on FLR shares. UBS Group decreased their target price on shares of Fluor Co. (NEW) from $62.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Citigroup decreased their target price on shares of Fluor Co. (NEW) from $56.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Credit Suisse Group reissued a “buy” rating and issued a $56.00 price objective on shares of Fluor Co. (NEW) in a research report on Monday, February 11th. MKM Partners set a $39.00 price objective on shares of Fluor Co. (NEW) and gave the company a “hold” rating in a research report on Friday, April 5th. Finally, Zacks Investment Research raised shares of Fluor Co. (NEW) from a “sell” rating to a “hold” rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.45.

Shares of FLR traded up $0.23 during midday trading on Wednesday, reaching $28.76. The stock had a trading volume of 3,570,694 shares, compared to its average volume of 3,282,086. Fluor Co. has a one year low of $28.00 and a one year high of $60.60. The company has a market cap of $4.06 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.35 and a beta of 1.77. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.04.

Fluor Co. (NEW) (NYSE:FLR) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.68). The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.80 billion. Fluor Co. (NEW) had a net margin of 0.99% and a return on equity of 8.90%. The business’s revenue was down 13.1% on a year-over-year basis. During the same period last year, the business earned $0.56 EPS. Analysts expect that Fluor Co. will post 1.66 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 3rd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, May 31st. Fluor Co. (NEW)’s payout ratio is 39.07%.

In related news, insider Ray F. Barnard sold 3,318 shares of Fluor Co. (NEW) stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $37.04, for a total transaction of $122,898.72. Following the completion of the sale, the insider now owns 75,739 shares of the company’s stock, valued at approximately $2,805,372.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ray F. Barnard sold 7,515 shares of Fluor Co. (NEW) stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $37.57, for a total transaction of $282,338.55. Following the sale, the insider now directly owns 86,572 shares of the company’s stock, valued at approximately $3,252,510.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,570 shares of company stock valued at $506,670 in the last ninety days. 1.40% of the stock is currently owned by insiders.

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Fluor Co. (NEW) 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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Institutional Ownership by Quarter for Fluor Co. (NEW) (NYSE:FLR)

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