Fluor Corporation $FLR Shares Sold by Energy Income Partners LLC

Key Points

• Energy Income Partners cut its Fluor stake by 21.3% in the first quarter, selling 30,114 shares and retaining 111,081 shares valued at approximately $5.18 million. Institutional investors and hedge funds collectively own 88.07% of FLR.
• Fluor’s latest quarterly results fell short of expectations, with earnings of $0.14 per share versus the $0.66 consensus estimate and revenue of $3.66 billion versus $3.89 billion expected. Revenue declined 8% year over year.
• Analyst sentiment is mixed: four analysts rate Fluor a Buy, two rate it Hold and one rates it Sell. The stock carries an overall “Hold” rating with a consensus price target of $57.20, compared with its recent price of $51.60.

Energy Income Partners LLC trimmed its stake in Fluor Corporation (NYSE:FLR - Free Report) by 21.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,081 shares of the construction company's stock after selling 30,114 shares during the quarter. Energy Income Partners LLC owned approximately 0.08% of Fluor worth $5,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC boosted its position in shares of Fluor by 40.3% in the 1st quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company's stock valued at $361,000 after purchasing an additional 2,896 shares during the period. Jones Financial Companies Lllp lifted its stake in Fluor by 337.7% during the first quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company's stock valued at $587,000 after buying an additional 12,645 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Fluor in the first quarter worth about $266,000. Acadian Asset Management LLC acquired a new position in shares of Fluor in the first quarter worth about $54,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Fluor by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company's stock worth $194,000 after acquiring an additional 248 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Stock Down 1.1%

Shares of FLR stock opened at $51.60 on Tuesday. Fluor Corporation has a 12 month low of $37.62 and a 12 month high of $57.50. The firm has a market cap of $7.21 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. The stock has a 50 day moving average of $49.83 and a 200-day moving average of $48.12. 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 announced 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 firm's quarterly 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. On average, equities analysts predict that Fluor Corporation will post 2.63 EPS for the current year.

Analysts Set New Price Targets

FLR has been the subject of several research analyst reports. Robert W. Baird upped their price target on shares of Fluor from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Zacks Research cut shares of Fluor from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 7th. Truist Financial boosted their target price on shares of Fluor from $57.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Citigroup reduced their target price on Fluor from $61.00 to $56.00 and set a "buy" rating for the company in a report on Monday, May 11th. Finally, Weiss Ratings upgraded Fluor from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock 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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