Vanguard Group Inc. Decreases Stock Holdings in Fluor Corporation $FLR

Vanguard Group Inc. cut its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,159,858 shares of the construction company's stock after selling 538,262 shares during the period. Vanguard Group Inc. owned 10.42% of Fluor worth $614,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alyeska Investment Group L.P. boosted its holdings in Fluor by 329.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company's stock valued at $97,954,000 after acquiring an additional 1,523,647 shares during the period. Pacer Advisors Inc. grew its stake in Fluor by 4,097.7% in the first quarter. Pacer Advisors Inc. now owns 1,332,307 shares of the construction company's stock worth $47,723,000 after purchasing an additional 1,300,568 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Fluor by 10,125.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company's stock worth $52,129,000 after purchasing an additional 1,046,610 shares in the last quarter. Hood River Capital Management LLC boosted its position in Fluor by 58.4% during the 4th quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company's stock valued at $96,285,000 after acquiring an additional 719,583 shares in the last quarter. Finally, Yaupon Capital Management LP purchased a new position in shares of Fluor in the 4th quarter worth approximately $26,353,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on FLR. Robert W. Baird lowered their price objective on Fluor from $55.00 to $46.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Truist Financial set a $52.00 price objective on Fluor in a research report on Monday, August 4th. Citigroup lowered their price target on Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a research report on Monday, August 4th. KeyCorp cut Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price objective for the company. in a report on Tuesday, July 15th. Finally, UBS Group lowered their target price on shares of Fluor from $60.00 to $56.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $49.57.

Insider Buying and Selling at Fluor

In other Fluor news, Chairman David E. Constable sold 38,600 shares of Fluor stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $52.11, for a total transaction of $2,011,446.00. Following the completion of the sale, the chairman directly owned 792,027 shares of the company's stock, valued at $41,272,526.97. The trade was a 4.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $859,535.60. Following the completion of the sale, the insider directly owned 64,383 shares of the company's stock, valued at $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,320 shares of company stock valued at $4,870,182. Corporate insiders own 1.70% of the company's stock.

Fluor Price Performance

Shares of NYSE:FLR traded up $0.32 during midday trading on Monday, hitting $42.20. The company had a trading volume of 763,363 shares, compared to its average volume of 3,578,246. Fluor Corporation has a twelve month low of $29.20 and a twelve month high of $60.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 1.74 and a beta of 1.43. The business's 50-day simple moving average is $49.84 and its 200-day simple moving average is $42.28.

Fluor (NYSE:FLR - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.16). The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.55 billion. Fluor had a net margin of 25.35% and a return on equity of 9.27%. Fluor's revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 EPS. On average, research analysts predict that Fluor Corporation will post 2.5 earnings per share 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.