Cambridge Investment Research Advisors Inc. Increases Stock Position in Fluor Corporation (NYSE:FLR)

Cambridge Investment Research Advisors Inc. boosted its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 84.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,951 shares of the construction company's stock after buying an additional 7,306 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Fluor were worth $571,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FLR. Private Wealth Partners LLC acquired a new stake in shares of Fluor during the first quarter worth about $609,000. Shelton Wealth Management LLC acquired a new stake in shares of Fluor during the first quarter worth about $734,000. State of Alaska Department of Revenue lifted its position in shares of Fluor by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 20,099 shares of the construction company's stock worth $719,000 after purchasing an additional 545 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Fluor by 14.9% during the first quarter. Cornerstone Wealth Management LLC now owns 11,272 shares of the construction company's stock worth $404,000 after purchasing an additional 1,461 shares in the last quarter. Finally, Lesa Sroufe & Co acquired a new stake in shares of Fluor during the first quarter worth about $1,730,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Stock Up 0.4%

Fluor stock traded up $0.22 during mid-day trading on Friday, hitting $52.26. The company had a trading volume of 2,404,595 shares, compared to its average volume of 2,678,396. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 5.01, a PEG ratio of 2.51 and a beta of 1.34. 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 1.74 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $44.90 and a 200 day moving average of $42.45.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.50 by $0.23. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. Fluor had a net margin of 11.13% and a return on equity of 14.59%. The firm's revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. On average, sell-side analysts expect that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on FLR shares. Wall Street Zen cut shares of Fluor from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Robert W. Baird increased their price target on shares of Fluor from $41.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday. Citigroup cut their target price on shares of Fluor from $55.00 to $46.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Truist Financial upped their target price on shares of Fluor from $47.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, KeyCorp cut their target price on shares of Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, April 4th. 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $50.86.

Insider Activity at Fluor

In other news, insider Alvin C. Collins III sold 18,920 shares of the firm'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 transaction of $859,535.60. Following the transaction, the insider directly owned 64,383 shares in the company, valued at approximately $2,924,919.69. This trade represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman David E. Constable sold 40,800 shares of the firm'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 transaction of $1,999,200.00. Following the transaction, the chairman owned 870,627 shares in the company, valued at approximately $42,660,723. This trade represents a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,320 shares of company stock worth $4,870,182 over the last quarter. 1.70% of the stock is currently owned by insiders.

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.