Cerity Partners LLC Cuts Stake in Fluor Co. (NYSE:FLR)

Cerity Partners LLC lowered its stake in shares of Fluor Co. (NYSE:FLR - Free Report) by 25.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 47,956 shares of the construction company's stock after selling 16,073 shares during the period. Cerity Partners LLC's holdings in Fluor were worth $2,313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLR. Clearbridge Investments LLC purchased a new position in shares of Fluor during the fourth quarter valued at approximately $25,056,000. Cookson Peirce & Co. Inc. bought a new stake in shares of Fluor in the 4th quarter worth $24,849,000. Artemis Investment Management LLP raised its holdings 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 valued at $61,792,000 after purchasing an additional 412,312 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Fluor during the fourth quarter valued at about $13,130,000. Finally, Principal Financial Group Inc. boosted its holdings in Fluor by 42.1% during the third quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company's stock worth $41,077,000 after purchasing an additional 254,904 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Fluor Price Performance

NYSE FLR traded down $0.98 during trading hours on Monday, hitting $32.98. The company had a trading volume of 2,499,891 shares, compared to its average volume of 2,164,394. Fluor Co. has a 52 week low of $29.20 and a 52 week high of $60.10. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 2.71, a PEG ratio of 1.36 and a beta of 1.66. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. The firm has a 50 day simple moving average of $36.35 and a 200 day simple moving average of $46.43.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.30). The firm had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. Equities research analysts expect that Fluor Co. will post 2.5 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on FLR. Citigroup reduced their target price 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 decreased their price objective on shares of Fluor from $65.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Barclays set a $40.00 target price on shares of Fluor and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Robert W. Baird lowered their price target on shares of Fluor from $46.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, KeyCorp decreased their target price on Fluor from $54.00 to $41.00 and set an "overweight" rating for the company in a research report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $49.43.

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.