Teachers Retirement System of The State of Kentucky Grows Stock Position in Fluor Co. (NYSE:FLR)

Teachers Retirement System of The State of Kentucky grew its position in shares of Fluor Co. (NYSE:FLR) by 7.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,013 shares of the construction company’s stock after purchasing an additional 9,000 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.08% of Fluor worth $5,539,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Raymond James & Associates increased its holdings in Fluor by 9.7% during the 4th quarter. Raymond James & Associates now owns 109,179 shares of the construction company’s stock worth $4,277,000 after purchasing an additional 9,653 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Fluor by 8.0% in the fourth quarter. State of Alaska Department of Revenue now owns 18,399 shares of the construction company’s stock valued at $720,000 after acquiring an additional 1,355 shares in the last quarter. State of Michigan Retirement System boosted its stake in Fluor by 19.2% during the 4th quarter. State of Michigan Retirement System now owns 40,897 shares of the construction company’s stock valued at $1,602,000 after acquiring an additional 6,600 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Fluor during the 4th quarter worth $64,000. Finally, New York State Teachers Retirement System grew its holdings in Fluor by 1.0% during the 4th quarter. New York State Teachers Retirement System now owns 169,870 shares of the construction company’s stock worth $6,654,000 after acquiring an additional 1,659 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on FLR. Barclays raised their price objective on shares of Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Robert W. Baird raised their price objective on shares of Fluor from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Citigroup raised their price objective on shares of Fluor from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. KeyCorp raised shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective for the company in a report on Wednesday, July 17th. Finally, Truist Financial lifted their price target on shares of Fluor from $47.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.43.

Fluor Stock Performance

NYSE FLR traded up $0.03 during trading hours on Friday, reaching $47.50. The company’s stock had a trading volume of 3,197,760 shares, compared to its average volume of 1,709,922. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.56. The business has a 50-day simple moving average of $45.31 and a 200 day simple moving average of $41.43. Fluor Co. has a 52 week low of $30.73 and a 52 week high of $51.64. The stock has a market cap of $8.13 billion, a PE ratio of 27.62, a PEG ratio of 2.55 and a beta of 1.99.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.17. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Fluor had a return on equity of 24.98% and a net margin of 1.97%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 earnings per share. Equities research analysts predict that Fluor Co. will post 2.9 earnings per share for the current fiscal year.

About Fluor

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.