Artemis Investment Management LLP Cuts Stake in Fluor Corporation (NYSE:FLR)

Artemis Investment Management LLP lowered its stake in Fluor Corporation (NYSE:FLR - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,189,583 shares of the construction company's stock after selling 63,293 shares during the period. Artemis Investment Management LLP owned approximately 0.71% of Fluor worth $42,611,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC increased its stake in Fluor by 196.2% in the 4th quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock valued at $30,000 after buying an additional 408 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 287 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Fluor during the fourth quarter worth about $57,000. Versant Capital Management Inc raised its holdings in Fluor by 121.5% during the first quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company's stock worth $43,000 after purchasing an additional 666 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its position in Fluor by 104.6% in the first quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company's stock valued at $49,000 after purchasing an additional 701 shares during the period. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Price Performance

Shares of Fluor stock traded down $0.11 on Monday, hitting $51.31. The company's stock had a trading volume of 1,185,631 shares, compared to its average volume of 2,626,025. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average price of $41.52 and a 200-day moving average price of $42.38. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $60.10. The company has a market capitalization of $8.45 billion, a P/E ratio of 4.92, a price-to-earnings-growth ratio of 2.47 and a beta of 1.30.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.23. Fluor had a net margin of 11.13% and a return on equity of 14.59%. The business had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.27 billion. During the same period last year, the company posted $0.47 EPS. The company's revenue was up 6.6% on a year-over-year basis. On average, equities research analysts expect that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Insider Activity

In other Fluor news, Chairman David E. Constable sold 40,800 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was 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 in the company, valued at approximately $42,660,723. The trade was a 4.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alvin C. Collins III sold 18,920 shares of the firm's stock in a transaction 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 sale, the insider now owns 64,383 shares in the company, valued at $2,924,919.69. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on FLR. Robert W. Baird set a $41.00 target price on Fluor in a research report on Monday, May 5th. Wall Street Zen lowered Fluor from a "buy" rating to a "hold" rating in a report on Monday, May 5th. KeyCorp reduced their target price on Fluor from $54.00 to $41.00 and set an "overweight" rating for the company in a report on Friday, April 4th. Truist Financial boosted their target price on shares of Fluor from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Citigroup cut their price target on shares of Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.14.

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.