Cetera Investment Advisers Increases Stake in Fluor Corporation (NYSE:FLR)

Cetera Investment Advisers grew its stake in Fluor Corporation (NYSE:FLR - Free Report) by 54.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,804 shares of the construction company's stock after buying an additional 9,126 shares during the period. Cetera Investment Advisers' holdings in Fluor were worth $924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLR. Xponance Inc. increased its position in Fluor by 1.5% during the 1st quarter. Xponance Inc. now owns 24,597 shares of the construction company's stock valued at $881,000 after purchasing an additional 357 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Fluor by 3.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 11,167 shares of the construction company's stock worth $400,000 after buying an additional 359 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Fluor by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 48,000 shares of the construction company's stock worth $1,719,000 after buying an additional 400 shares during the period. Sterling Capital Management LLC grew its position in shares of Fluor by 196.2% in the 4th quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock worth $30,000 after buying an additional 408 shares during the period. Finally, State of Michigan Retirement System grew its position in shares of Fluor by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 41,097 shares of the construction company's stock worth $1,472,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Stock Performance

Shares of NYSE:FLR traded up $0.24 during trading on Friday, hitting $41.79. The company's stock had a trading volume of 4,073,290 shares, compared to its average volume of 5,194,345. The company has a 50-day moving average of $49.84 and a 200-day moving average of $42.32. Fluor Corporation has a 12 month low of $29.20 and a 12 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 firm has a market cap of $6.76 billion, a price-to-earnings ratio of 1.72 and a beta of 1.43.

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

Insider Activity at Fluor

In related news, Chairman David E. Constable sold 40,800 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $49.00, for a total value of $1,999,200.00. Following the completion of the sale, the chairman directly owned 870,627 shares of the company's stock, valued at approximately $42,660,723. This represents a 4.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $45.43, for a total transaction 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. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,320 shares of company stock worth $4,870,182 in the last quarter. Company insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Fluor from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. KeyCorp downgraded shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price objective on the stock. in a research report on Tuesday, July 15th. Robert W. Baird cut their price objective on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Truist Financial set a $52.00 target price on shares of Fluor in a research note on Monday, August 4th. 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 research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $49.57.

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.