Private Asset Management Inc Lowers stake in Fluor Corporation (NEW) (FLR)

Fluor Corporation (NEW) (FLR) : Private Asset Management Inc reduced its stake in Fluor Corporation (NEW) by 4.63% during the most recent quarter end. The investment management company now holds a total of 82,966 shares of Fluor Corporation (NEW) which is valued at $4.3 Million after selling 4,025 shares in Fluor Corporation (NEW) according to a report filed by the company on Apr 5, 2016 with the SEC.Fluor Corporation (NEW) makes up approximately 0.78% of Private Asset Management Inc’s portfolio.

On the company’s financial health, Fluor Corporation (NEW) reported $0.68 EPS for the quarter, missing the analyst consensus estimate by $ -0.25 based on the information available during the earnings call on Feb 18, 2016. Analyst had a consensus of $0.93. The company had revenue of $4370.70 million for the quarter, compared to analysts expectations of $4553.54 million. The company’s revenue was down -19.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.41 EPS.

Many Wall Street Analysts have commented on Fluor Corporation (NEW). Shares were Downgraded by FBR Capital on Feb 19, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 46 from a previous price target of $57 .

Fluor Corporation (NEW) opened for trading at $51.58 and hit $52.145 on the upside on Monday, eventually ending the session at $51.39, with a gain of 0.23% or 0.12 points. The heightened volatility saw the trading volume jump to 7,05,933 shares. Company has a market cap of $7,139 M.

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. Through its Oil & Gas segment Fluor serves the oil and gas production processing and chemical and petrochemical industries. The Industrial & Infrastructure segment provides design engineering procurement construction operations and maintenance and project management services. The Government segment is a provider of engineering construction logistics and environmental and nuclear services among others. The Global Services segment provides a range of solutions to support projects across Fluor groups. In the Power segment it provides a range of services to the gas-fueled and solid-fueled markets among others.

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