Fluor Corporation (NYSE:FLR) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Fluor Corporation by 34.6% during the first quarter, owning 14,075 shares worth approximately $504,000 after selling 7,461 shares.
• Several institutional investors, including Xponance Inc. and Nisa Investment Advisors LLC, increased their holdings in Fluor, reflecting ongoing adjustments in the stock's investor base.
• Fluor's most recent earnings report showed a missed EPS estimate at $0.43, compared to the consensus estimate of $0.59, with revenue declining 5.9% year-over-year to $3.98 billion.

Allianz Asset Management GmbH cut its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 34.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,075 shares of the construction company's stock after selling 7,461 shares during the period. Allianz Asset Management GmbH's holdings in Fluor were worth $504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FLR. American Century Companies Inc. boosted its holdings in shares of Fluor by 1.7% in the fourth quarter. American Century Companies Inc. now owns 57,664 shares of the construction company's stock valued at $2,844,000 after acquiring an additional 973 shares in the last quarter. LPL Financial LLC boosted its holdings in Fluor by 19.3% in the 4th quarter. LPL Financial LLC now owns 118,652 shares of the construction company's stock valued at $5,852,000 after purchasing an additional 19,161 shares in the last quarter. Pictet Asset Management Holding SA increased its position in Fluor by 13.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 24,549 shares of the construction company's stock worth $1,211,000 after purchasing an additional 2,825 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Fluor by 9.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,351 shares of the construction company's stock worth $708,000 after buying an additional 1,204 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Fluor in the fourth quarter valued at approximately $7,644,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FLR has been the subject of several research analyst reports. UBS Group cut their price objective on Fluor from $60.00 to $56.00 and set a "buy" rating for the company in a research report on Wednesday. Wall Street Zen downgraded shares of Fluor from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Robert W. Baird lowered their price objective on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a research note on Monday. KeyCorp cut Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 target price on the stock. in a report on Tuesday, July 15th. Finally, Citigroup dropped their price target on Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a research report on Monday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $49.57.

Fluor Trading Up 5.3%

Shares of FLR stock traded up $2.19 on Wednesday, reaching $43.44. 3,176,706 shares of the stock were exchanged, compared to its average volume of 3,525,501. The firm has a 50 day moving average of $49.84 and a two-hundred day moving average of $42.79. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $60.10. The company has a quick ratio of 1.74, a current ratio of 1.62 and a debt-to-equity ratio of 0.18. The stock has a market cap of $7.02 billion, a P/E ratio of 1.78, a price-to-earnings-growth ratio of 2.41 and a beta of 1.43.

Fluor (NYSE:FLR - Get Free Report) last posted its earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.16). Fluor had a return on equity of 9.27% and a net margin of 25.35%. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.55 billion. During the same period last year, the company posted $0.85 EPS. The firm's revenue for the quarter was down 5.9% compared to the same quarter last year. On average, research analysts anticipate that Fluor Corporation will post 2.5 EPS for the current year.

Insider Activity

In other Fluor news, insider Alvin C. Collins III sold 18,920 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the transaction, the insider directly owned 64,383 shares of the company's stock, valued at $2,924,919.69. This represents a 22.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman David E. Constable sold 38,600 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total value of $2,011,446.00. Following the completion of the transaction, the chairman directly owned 792,027 shares of the company's stock, valued at $41,272,526.97. This represents a 4.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,320 shares of company stock valued at $4,870,182 in the last ninety days. 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.