Byrne Asset Management LLC Lowers Stock Position in Fluor Co. (NYSE:FLR)

Byrne Asset Management LLC reduced its position in Fluor Co. (NYSE:FLR) by 92.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,900 shares of the construction company’s stock after selling 33,416 shares during the period. Byrne Asset Management LLC’s holdings in Fluor were worth $143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLR. Geode Capital Management LLC lifted its stake in shares of Fluor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company’s stock valued at $190,953,000 after purchasing an additional 51,018 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Fluor by 27.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after buying an additional 457,220 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Fluor by 0.5% during the third quarter. Thrivent Financial for Lutherans now owns 2,004,775 shares of the construction company’s stock worth $95,648,000 after buying an additional 9,789 shares during the period. Artemis Investment Management LLP increased its position in shares of Fluor by 49.1% in the fourth quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock worth $61,792,000 after acquiring an additional 412,312 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its stake in shares of Fluor by 13.1% in the 4th quarter. Hennessy Advisors Inc. now owns 1,040,600 shares of the construction company’s stock valued at $51,322,000 after acquiring an additional 120,800 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

FLR has been the subject of several recent research reports. Citigroup lowered their price target on Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. DA Davidson upped their price target on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Truist Financial dropped their price objective on shares of Fluor from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Robert W. Baird reaffirmed a “neutral” rating and set a $58.00 price target (up from $54.00) on shares of Fluor in a report on Wednesday, December 18th. Finally, UBS Group upped their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.29.

Fluor Stock Performance

Shares of FLR stock opened at $49.33 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 3.40 and a beta of 1.89. Fluor Co. has a one year low of $35.04 and a one year high of $60.10. The company’s 50-day simple moving average is $51.09 and its 200-day simple moving average is $50.32.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the firm posted $1.02 earnings per share. Fluor’s revenue was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Thomas P. D’agostino sold 7,681 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $56.39, for a total transaction of $433,131.59. Following the completion of the transaction, the insider now owns 137,974 shares in the company, valued at $7,780,353.86. The trade was a 5.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark E. Fields sold 50,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of the sale, the insider now directly owns 147,045 shares in the company, valued at $8,327,158.35. This represents a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

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.