Bessemer Group Inc. Decreases Stock Holdings in Fluor Corporation (NYSE:FLR)

Bessemer Group Inc. decreased its stake in Fluor Corporation (NYSE:FLR - Free Report) by 43.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 331,722 shares of the construction company's stock after selling 252,814 shares during the period. Bessemer Group Inc. owned approximately 0.20% of Fluor worth $11,883,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Fluor by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,698,120 shares of the construction company's stock valued at $872,871,000 after purchasing an additional 168,822 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Fluor by 3.6% in the fourth quarter. Alliancebernstein L.P. now owns 3,093,998 shares of the construction company's stock valued at $152,596,000 after purchasing an additional 107,327 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Fluor by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,515,911 shares of the construction company's stock valued at $124,087,000 after purchasing an additional 25,528 shares during the period. Northern Trust Corp lifted its stake in shares of Fluor by 12.9% in the fourth quarter. Northern Trust Corp now owns 2,391,954 shares of the construction company's stock valued at $117,971,000 after purchasing an additional 273,156 shares during the period. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Fluor by 329.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company's stock valued at $97,954,000 after purchasing an additional 1,523,647 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Fluor Trading Up 0.3%

Shares of NYSE FLR traded up $0.16 during midday trading on Friday, reaching $51.54. 7,328,696 shares of the stock were exchanged, compared to its average volume of 2,640,039. The company has a market capitalization of $8.49 billion, a P/E ratio of 4.94, a P/E/G ratio of 2.39 and a beta of 1.30. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $60.10. 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 has a 50 day moving average price of $41.17 and a 200-day moving average price of $42.58.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.23. The business had revenue of $3.98 billion during 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%. The company's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. Equities research analysts expect that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at Fluor

In related 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 shares were sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the sale, the insider now directly owns 64,383 shares in the company, valued at approximately $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David E. Constable sold 40,800 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $49.00, for a total transaction of $1,999,200.00. Following the completion of the sale, the chairman now owns 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. Insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FLR. Truist Financial raised their price objective on shares of Fluor from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Citigroup dropped their target price on shares of Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a report on Friday, April 25th. Robert W. Baird set a $41.00 target price on shares of Fluor in a report on Monday, May 5th. Wall Street Zen downgraded shares of Fluor from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, UBS Group restated a "buy" rating and set a $60.00 target price (up from $48.00) on shares of Fluor in a report on Tuesday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.14.

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.