Foundry Partners LLC Purchases New Stake in Fluor Corporation (NYSE:FLR)

Foundry Partners LLC acquired a new position in Fluor Corporation (NYSE:FLR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,243 shares of the construction company's stock, valued at approximately $546,000.

Other hedge funds have also added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its stake 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 purchasing an additional 408 shares during the period. SBI Securities Co. Ltd. grew its position in Fluor by 222.9% during the first quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company's stock valued at $39,000 after acquiring an additional 760 shares during the period. Versant Capital Management Inc increased its holdings in shares of Fluor by 121.5% in the 1st 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. Golden State Wealth Management LLC lifted its holdings in shares of Fluor by 104.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company's stock valued at $49,000 after buying an additional 701 shares during the last quarter. Finally, GeoWealth Management LLC bought a new position in Fluor during the 4th quarter valued at about $128,000. Institutional investors own 88.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citigroup decreased their price objective on shares of Fluor from $55.00 to $46.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Robert W. Baird boosted their price objective on shares of Fluor from $41.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Wall Street Zen cut Fluor from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. UBS Group reiterated a "buy" rating and set a $60.00 price target (up from $48.00) on shares of Fluor in a research note on Tuesday, June 24th. Finally, KeyCorp lowered Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price target on the stock. in a research report on Tuesday, July 15th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Fluor has a consensus rating of "Hold" and an average target price of $50.86.

Insiders Place Their Bets

In related news, insider Alvin C. Collins III sold 18,920 shares of the company's stock in a transaction on 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 transaction, the insider directly owned 64,383 shares in the company, valued at approximately $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David E. Constable sold 38,600 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $52.11, for a total value of $2,011,446.00. Following the completion of the transaction, the chairman owned 792,027 shares of the company's stock, valued at $41,272,526.97. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,320 shares of company stock valued at $4,870,182. Corporate insiders own 1.70% of the company's stock.

Fluor Stock Down 1.7%

FLR stock traded down $0.94 during trading on Monday, hitting $54.01. 2,709,853 shares of the stock traded hands, compared to its average volume of 2,687,936. Fluor Corporation has a 1 year low of $29.20 and a 1 year high of $60.10. 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 stock has a market cap of $8.89 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 2.64 and a beta of 1.34. The firm's 50 day moving average is $46.76 and its two-hundred day moving average is $42.55.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, beating 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 firm had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.27 billion. During the same quarter last year, the company posted $0.47 earnings per share. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Fluor Corporation will post 2.5 EPS for the current year.

Fluor 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.