Exchange Traded Concepts LLC Boosts Stake in Fluor Corporation (NYSE:FLR)

Exchange Traded Concepts LLC raised its stake in Fluor Corporation (NYSE:FLR - Free Report) by 36.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,675 shares of the construction company's stock after buying an additional 16,070 shares during the period. Exchange Traded Concepts LLC's holdings in Fluor were worth $2,138,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its holdings in Fluor by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company's stock valued at $256,000 after buying an additional 264 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in 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 buying an additional 287 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Fluor by 0.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,954 shares of the construction company's stock valued at $1,724,000 after buying an additional 300 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Fluor by 196.2% during the 4th quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock worth $30,000 after purchasing an additional 408 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Fluor by 0.8% during the 4th quarter. Arizona State Retirement System now owns 49,711 shares of the construction company's stock worth $2,452,000 after purchasing an additional 418 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Trading Up 0.2%

FLR stock traded up $0.11 during midday trading on Thursday, hitting $49.99. The stock had a trading volume of 3,578,373 shares, compared to its average volume of 2,554,940. The firm has a market cap of $8.23 billion, a PE ratio of 4.79, a price-to-earnings-growth ratio of 2.40 and a beta of 1.30. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.74 and a quick ratio of 1.74. Fluor Corporation has a 12-month low of $29.20 and a 12-month high of $60.10. The company's 50-day moving average price is $39.18 and its 200 day moving average price is $42.80.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates 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%. Fluor's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.47 EPS. On average, equities research analysts predict that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. DA Davidson dropped their price objective on shares of Fluor from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Citigroup dropped their price objective on shares of Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a research note on Friday, April 25th. UBS Group dropped their price objective on shares of Fluor from $49.00 to $48.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen cut shares of Fluor from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, KeyCorp dropped their price objective on shares of Fluor from $54.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, April 4th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Fluor has a consensus rating of "Moderate Buy" and an average target price of $45.43.

Insider Buying and Selling at Fluor

In related news, insider Alvin C. Collins III sold 18,920 shares of Fluor stock in a transaction 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 now owns 64,383 shares in the company, valued at approximately $2,924,919.69. The trade was a 22.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David E. Constable sold 40,800 shares of Fluor stock in a transaction 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 transaction, the chairman now owns 870,627 shares in the company, valued at $42,660,723. The trade was a 4.48% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

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.