Bessemer Group Inc. Cuts Stake in Fluor Corporation (NYSE:FLR)

Bessemer Group Inc. reduced its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 43.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 331,722 shares of the construction company's stock after selling 252,814 shares during the quarter. Bessemer Group Inc. owned approximately 0.20% of Fluor worth $11,883,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its position in Fluor by 196.2% in the 4th quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock valued at $30,000 after buying an additional 408 shares during the period. Versant Capital Management Inc raised its stake in shares of Fluor by 121.5% during the first quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company's stock valued at $43,000 after acquiring an additional 666 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Fluor by 43.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company's stock valued at $47,000 after purchasing an additional 287 shares during the period. 1620 Investment Advisors Inc. bought a new position in Fluor in the fourth quarter worth approximately $57,000. Finally, Parallel Advisors LLC increased its holdings in Fluor by 77.8% during the 1st quarter. Parallel Advisors LLC now owns 2,813 shares of the construction company's stock worth $101,000 after purchasing an additional 1,231 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FLR shares. KeyCorp lowered their target price on Fluor from $54.00 to $41.00 and set an "overweight" rating for the company in a report on Friday, April 4th. Citigroup dropped their target price on shares of Fluor from $55.00 to $46.00 and set a "buy" rating on the stock in a report on Friday, April 25th. UBS Group restated a "buy" rating and issued a $60.00 price target (up previously from $48.00) on shares of Fluor in a report on Tuesday, June 24th. Robert W. Baird set a $41.00 price objective on shares of Fluor in a research note on Monday, May 5th. Finally, Wall Street Zen lowered shares of Fluor from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Fluor presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.14.

Fluor Stock Down 0.2%

Shares of FLR stock traded down $0.11 during trading hours on Monday, reaching $51.31. 1,942,120 shares of the company's stock were exchanged, compared to its average volume of 2,626,029. The stock has a market cap of $8.45 billion, a PE ratio of 4.92, a PEG ratio of 2.47 and a beta of 1.30. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.30. The stock's fifty day moving average price is $41.88 and its two-hundred day moving average price is $42.35. Fluor Corporation has a 1 year low of $29.20 and a 1 year high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last released its earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.23. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.27 billion. Fluor had a net margin of 11.13% and a return on equity of 14.59%. Fluor's revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. Research analysts predict that Fluor Corporation will post 2.5 EPS for the current year.

Insider Transactions at Fluor

In other news, insider Alvin C. Collins III sold 18,920 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the sale, the insider directly owned 64,383 shares in the company, valued at $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman David E. Constable sold 40,800 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total value of $1,999,200.00. Following the transaction, the chairman directly owned 870,627 shares of the company's stock, valued at approximately $42,660,723. The trade was a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

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.