Prudential Financial Inc. Sells 7,928 Shares of Fluor Co. (NYSE:FLR)

Prudential Financial Inc. cut its stake in shares of Fluor Co. (NYSE:FLR) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 377,299 shares of the construction company’s stock after selling 7,928 shares during the period. Prudential Financial Inc. owned 0.22% of Fluor worth $18,608,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in Fluor by 2,509.5% during the 4th quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock worth $27,000 after purchasing an additional 527 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Fluor during the 4th quarter worth $33,000. Smartleaf Asset Management LLC lifted its holdings in shares of Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock worth $47,000 after buying an additional 287 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Fluor in the fourth quarter valued at about $57,000. Finally, Quarry LP increased its position in Fluor by 244.7% during the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after acquiring an additional 942 shares during the period. Institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FLR shares. Citigroup decreased their target price on shares of Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. DA Davidson dropped their price objective on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Robert W. Baird reduced their target price on Fluor from $58.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Barclays set a $40.00 price target on Fluor and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Finally, Baird R W downgraded shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.71.

Fluor Stock Down 2.6 %

Shares of NYSE FLR opened at $37.72 on Thursday. The stock has a 50-day moving average price of $42.58 and a two-hundred day moving average price of $48.19. Fluor Co. has a 12 month low of $34.01 and a 12 month high of $60.10. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 3.09, a PEG ratio of 1.36 and a beta of 1.73.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.30). The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. As a group, analysts forecast that Fluor Co. will post 2.5 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.