Fluor Co. (NYSE:FLR) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. reduced its stake in Fluor Co. (NYSE:FLR - Free Report) by 8.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 947,900 shares of the construction company's stock after selling 92,700 shares during the quarter. Fluor accounts for approximately 1.1% of Hennessy Advisors Inc.'s portfolio, making the stock its 28th largest holding. Hennessy Advisors Inc. owned 0.56% of Fluor worth $33,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FLR. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Fluor by 170.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,872 shares of the construction company's stock valued at $927,000 after purchasing an additional 16,306 shares during the period. New England Research & Management Inc. bought a new stake in shares of Fluor during the 1st quarter valued at about $740,000. Harbor Capital Advisors Inc. grew its stake in shares of Fluor by 104.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221,967 shares of the construction company's stock valued at $7,951,000 after purchasing an additional 113,136 shares during the period. Pallas Capital Advisors LLC purchased a new position in shares of Fluor during the 1st quarter valued at about $461,000. Finally, Abacus Planning Group Inc. purchased a new position in Fluor in the 1st quarter worth approximately $206,000. 88.07% of the stock is currently owned by institutional investors.

Fluor Trading Down 0.4%

Shares of FLR stock traded down $0.18 on Friday, hitting $48.21. The stock had a trading volume of 3,745,018 shares, compared to its average volume of 2,513,157. The company's 50 day moving average price is $38.16 and its 200-day moving average price is $42.83. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77. Fluor Co. has a 1 year low of $29.20 and a 1 year high of $60.10. The firm has a market capitalization of $7.94 billion, a P/E ratio of 3.96, a P/E/G ratio of 1.36 and a beta of 1.30.

Fluor (NYSE:FLR - Get Free Report) last announced its earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.23. The firm had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.27 billion. Fluor had a return on equity of 15.14% and a net margin of 13.14%. The business's revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. Analysts anticipate that Fluor Co. will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FLR shares. KeyCorp reduced their price objective on Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, April 4th. DA Davidson lowered their price target on Fluor from $65.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Citigroup decreased their target price on Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a report on Friday, April 25th. Wall Street Zen cut Fluor from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Truist Financial lifted their price target on Fluor from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Fluor has a consensus rating of "Moderate Buy" and a consensus target price of $45.43.

Insiders Place Their Bets

In related 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 stock was sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the transaction, the insider now directly owns 64,383 shares of the company's stock, valued at $2,924,919.69. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David E. Constable sold 40,800 shares of the firm'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 value of $1,999,200.00. Following the completion of the transaction, the chairman now directly owns 870,627 shares of the company's stock, valued at $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. 1.70% of the stock is owned by insiders.

Fluor Company 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.