Fluor Corporation (NYSE:FLR) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP cut its stake in Fluor Corporation (NYSE:FLR - Free Report) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,189,583 shares of the construction company's stock after selling 63,293 shares during the quarter. Artemis Investment Management LLP owned about 0.71% of Fluor worth $42,611,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC increased its position in Fluor by 196.2% during the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock worth $30,000 after purchasing an additional 408 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Fluor by 43.0% during the 4th 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 during the period. 1620 Investment Advisors Inc. acquired a new position in Fluor in the fourth quarter valued at approximately $57,000. Versant Capital Management Inc grew its position in Fluor by 121.5% in the first quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company's stock worth $43,000 after acquiring an additional 666 shares during the period. Finally, Golden State Wealth Management LLC raised 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.

Insider Activity at Fluor

In related news, insider Alvin C. Collins III sold 18,920 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $45.43, for a total transaction of $859,535.60. Following the sale, the insider now owns 64,383 shares of the company's stock, valued at approximately $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman David E. Constable sold 40,800 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 870,627 shares of the company's stock, valued at approximately $42,660,723. This trade represents a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

FLR has been the subject of a number of research analyst reports. Truist Financial increased their price target on Fluor from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Barclays set a $40.00 target price on shares of Fluor and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. UBS Group reiterated a "buy" rating and issued a $60.00 target price (up previously from $48.00) on shares of Fluor in a report on Tuesday. Robert W. Baird set a $41.00 price target on Fluor in a research note on Monday, May 5th. Finally, Citigroup dropped their price objective on Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Fluor presently has an average rating of "Moderate Buy" and a consensus target price of $47.14.

Fluor Price Performance

Shares of NYSE FLR opened at $51.45 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market cap of $8.47 billion, a PE ratio of 4.93, a P/E/G ratio of 2.39 and a beta of 1.30. The stock has a fifty day moving average price of $41.17 and a 200 day moving average price of $42.58. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last released its earnings results on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.50 by $0.23. Fluor had a net margin of 11.13% and a return on equity of 14.59%. The company had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.27 billion. During the same quarter last year, the business earned $0.47 EPS. The business's revenue was up 6.6% on a year-over-year basis. Sell-side analysts forecast that Fluor Corporation will post 2.5 EPS for the current year.

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.

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