Fluor Corporation $FLR Holdings Raised by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. sharply increased its Fluor stake by 6,229.8% in the fourth quarter, buying 150,762 additional shares and ending with 153,182 shares worth about $6.07 million.
• Wall Street sentiment on Fluor is mixed but still constructive: analysts have an average “Moderate Buy” rating with a consensus price target of $53.33, while several firms recently raised or reaffirmed buy targets.
• Fluor’s latest earnings disappointed, with EPS of $0.14 versus $0.66 expected and revenue of $3.66 billion below estimates; shares opened at $44.86 and remain below their 52-week high of $57.50.

Northwestern Mutual Wealth Management Co. grew its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 6,229.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,182 shares of the construction company's stock after purchasing an additional 150,762 shares during the period. Northwestern Mutual Wealth Management Co. owned about 0.10% of Fluor worth $6,071,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP lifted its stake in Fluor by 32.2% in the 4th quarter. Allworth Financial LP now owns 9,082 shares of the construction company's stock worth $360,000 after acquiring an additional 2,211 shares in the last quarter. Independent Advisor Alliance lifted its stake in Fluor by 16.8% in the 4th quarter. Independent Advisor Alliance now owns 21,052 shares of the construction company's stock worth $834,000 after acquiring an additional 3,030 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Fluor in the 4th quarter worth about $214,000. Seelaus Asset Management LLC lifted its stake in Fluor by 2.9% in the 4th quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company's stock worth $348,000 after acquiring an additional 245 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its stake in shares of Fluor by 69.6% during the 4th quarter. Swiss Life Asset Management Ltd now owns 12,746 shares of the construction company's stock worth $505,000 after purchasing an additional 5,232 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FLR. DA Davidson raised their price target on Fluor from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Weiss Ratings raised Fluor from a "sell (d+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. UBS Group reaffirmed a "buy" rating and set a $57.00 price target on shares of Fluor in a research note on Thursday, February 19th. Truist Financial reaffirmed a "buy" rating and set a $57.00 price target (down from $59.00) on shares of Fluor in a research note on Monday, May 11th. Finally, Robert W. Baird raised their price target on Fluor from $48.00 to $49.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $53.33.

Fluor Stock Performance

Shares of NYSE FLR opened at $44.86 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 1.37 and a beta of 1.33. The business's 50-day simple moving average is $47.13 and its 200-day simple moving average is $45.65. Fluor Corporation has a 52 week low of $37.62 and a 52 week high of $57.50.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.52). The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. The business's revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 EPS. As a group, equities research analysts expect that Fluor Corporation will post 2.69 earnings per share for the current fiscal year.

Insider Transactions at Fluor

In other news, insider Anthony Morgan sold 3,387 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $53.09, for a total transaction of $179,815.83. Following the transaction, the insider owned 45,999 shares of the company's stock, valued at approximately $2,442,086.91. This represents a 6.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael E. Alexander sold 3,387 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $53.07, for a total value of $179,748.09. Following the transaction, the insider directly owned 68,664 shares in the company, valued at approximately $3,643,998.48. This represents a 4.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.70% of the company's stock.

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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