Dimensional Fund Advisors LP Has $175.07 Million Position in Fluor Corporation $FLR

Key Points

• Dimensional Fund Advisors LP cut its Fluor stake by 16.9% in the first quarter, but still owned 3.75 million shares worth about $175.1 million, or 2.62% of the company.
• Fluor’s stock was down 2.1% to $52.16, with a market value of $7.28 billion and strong institutional ownership overall at 88.07%.
• The company recently reported weaker-than-expected quarterly results, posting $0.14 EPS versus $0.66 expected and revenue of $3.66 billion, while analysts currently rate the stock as a Hold on average.

Dimensional Fund Advisors LP reduced its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 16.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,753,397 shares of the construction company's stock after selling 762,260 shares during the period. Dimensional Fund Advisors LP owned 2.62% of Fluor worth $175,067,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FLR. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Fluor in the 4th quarter valued at approximately $1,350,000. Pacific Heights Asset Management LLC grew its holdings in Fluor by 23.1% during the fourth quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company's stock valued at $15,852,000 after purchasing an additional 75,000 shares during the last quarter. Mutual Advisors LLC acquired a new position in Fluor during the fourth quarter valued at approximately $863,000. CWM LLC raised its position in shares of Fluor by 68.1% in the fourth quarter. CWM LLC now owns 91,639 shares of the construction company's stock valued at $3,632,000 after purchasing an additional 37,112 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Fluor by 16.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 172,427 shares of the construction company's stock worth $6,833,000 after buying an additional 23,892 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Fluor Trading Down 2.1%

Shares of Fluor stock opened at $52.16 on Friday. Fluor Corporation has a 12-month low of $37.62 and a 12-month high of $57.50. The stock has a market capitalization of $7.28 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. The company has a 50-day simple moving average of $49.69 and a 200 day simple moving average of $48.05. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the business earned $0.73 earnings per share. The company's revenue for the quarter was down 8.0% on a year-over-year basis. Research analysts expect that Fluor Corporation will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FLR. Citigroup decreased their price target on shares of Fluor from $61.00 to $56.00 and set a "buy" rating for the company in a report on Monday, May 11th. Robert W. Baird raised their target price on Fluor from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Weiss Ratings raised Fluor from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Zacks Research cut Fluor from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 7th. Finally, Truist Financial raised their price objective on shares of Fluor from $57.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $57.20.

About Fluor

Fluor Corporation NYSE: FLR is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company's core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor's diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.

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