Fluor Co. (NYSE:FLR) Holdings Reduced by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in shares of Fluor Co. (NYSE:FLR) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,291 shares of the construction company’s stock after selling 2,657 shares during the period. Retirement Systems of Alabama’s holdings in Fluor were worth $9,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Fluor by 18.6% during the 4th quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company’s stock worth $668,278,000 after acquiring an additional 2,670,473 shares during the period. Hennessy Advisors Inc. acquired a new stake in Fluor in the fourth quarter worth about $26,918,000. King Luther Capital Management Corp grew its position in Fluor by 84.2% in the 4th quarter. King Luther Capital Management Corp now owns 637,150 shares of the construction company’s stock valued at $24,957,000 after buying an additional 291,210 shares in the last quarter. Westend Capital Management LLC acquired a new position in Fluor during the 1st quarter valued at about $10,472,000. Finally, Energy Income Partners LLC lifted its stake in shares of Fluor by 39.0% in the 1st quarter. Energy Income Partners LLC now owns 761,757 shares of the construction company’s stock worth $32,207,000 after acquiring an additional 213,758 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Trading Up 1.8 %

Shares of FLR opened at $49.62 on Friday. The business’s 50-day moving average price is $46.73 and its 200 day moving average price is $42.53. 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 stock has a market capitalization of $8.49 billion, a P/E ratio of 28.85, a P/E/G ratio of 2.55 and a beta of 1.99. Fluor Co. has a 1-year low of $32.31 and a 1-year high of $51.64.

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

Analyst Ratings Changes

FLR has been the topic of several recent analyst reports. Citigroup boosted their target price on Fluor from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. DA Davidson upped their price objective on Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays raised their target price on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Robert W. Baird upped their price target on shares of Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, UBS Group lifted their price objective on shares of Fluor from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Fluor currently has an average rating of “Moderate Buy” and an average price target of $54.00.

Insider Buying and Selling at Fluor

In other news, CAO John C. Regan sold 13,000 shares of Fluor stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total transaction of $628,030.00. Following the transaction, the chief accounting officer now owns 55,965 shares in the company, valued at $2,703,669.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

Fluor Profile

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.