Fintel reports that Fmr has filed a 13G/A form with the SEC disclosing ownership of 14.55MM shares of Fluor Corp (FLR). This represents 10.211% of the company.
In their previous filing dated September 12, 2022 they reported 15.48MM shares and 10.81% of the company, a decrease in shares of 5.98% and a decrease in total ownership of 0.60% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 1.50% Upside
As of February 7, 2023, the average one-year price target for Fluor is $36.08. The forecasts range from a low of $30.30 to a high of $42.00. The average price target represents an increase of 1.50% from its latest reported closing price of $35.55.
The projected annual revenue for Fluor is $15,302MM, an increase of 28.21%. The projected annual EPS is $1.67.
What is the Fund Sentiment?
There are 719 funds or institutions reporting positions in Fluor. This is an increase of 6 owner(s) or 0.84% in the last quarter. Average portfolio weight of all funds dedicated to FLR is 0.33%, an increase of 18.63%. Total shares owned by institutions increased in the last three months by 2.33% to 153,991K shares. The put/call ratio of FLR is 0.61, indicating a bullish outlook.
What are large shareholders doing?
Wellington Management Group Llp holds 13,676K shares representing 9.62% ownership of the company. In it's prior filing, the firm reported owning 15,230K shares, representing a decrease of 11.37%. The firm decreased its portfolio allocation in FLR by 2.89% over the last quarter.
Bank of New York Mellon holds 7,706K shares representing 5.42% ownership of the company. In it's prior filing, the firm reported owning 8,318K shares, representing a decrease of 7.95%. The firm increased its portfolio allocation in FLR by 0.64% over the last quarter.
Hotchkis & Wiley Capital Management holds 4,988K shares representing 3.51% ownership of the company. In it's prior filing, the firm reported owning 5,528K shares, representing a decrease of 10.83%. The firm decreased its portfolio allocation in FLR by 0.36% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,259K shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 4,176K shares, representing an increase of 1.93%. The firm increased its portfolio allocation in FLR by 8.70% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 4,151K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 4,084K shares, representing an increase of 1.63%. The firm increased its portfolio allocation in FLR by 4.47% over the last quarter.
Fluor Declares $0.10 Dividend
On February 6, 2020 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of February 28, 2020 received the payment on April 2, 2020. Previously, the company paid $0.10 per share.
At the current share price of $35.55 / share, the stock's dividend yield is 1.13%. Looking back five years and taking a sample every week, the average dividend yield has been 2.59%, the lowest has been 1.37%, and the highest has been 6.75%. The standard deviation of yields is 1.27 (n=107).
The current dividend yield is 1.16 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.00. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -1.00%.
Fluor Background Information
(This description is provided by the company.)
Fluor Corporation is building a better future by applying world-class expertise to solve its clients' greatest challenges. Fluor's 44,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $15.7 billion in 2020 and is ranked 181 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 100 years.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
