Headlands Technologies LLC Takes Position in Fluor Corporation (NYSE:FLR)

Key Points

• Headlands Technologies LLC acquired 8,297 shares of Fluor Corporation, valued at approximately $297,000, indicating institutional interest in the company.
• Fluor Corporation's shares saw a recent downgrade in price targets by various analysts, with a consensus average target of $49.57 and a mix of "buy," "hold," and "sell" ratings.
• Fluor's latest earnings report revealed $0.43 earnings per share, missing estimates, with revenue down 5.9% year-over-year at $3.98 billion.

Headlands Technologies LLC acquired a new position in shares of Fluor Corporation (NYSE:FLR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 8,297 shares of the construction company's stock, valued at approximately $297,000.

Several other large investors have also recently added to or reduced their stakes in FLR. Envestnet Asset Management Inc. increased its position in Fluor by 15.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 99,684 shares of the construction company's stock worth $4,916,000 after buying an additional 13,104 shares during the period. Invesco Ltd. grew its position in shares of Fluor by 23.1% during the 4th quarter. Invesco Ltd. now owns 1,345,503 shares of the construction company's stock worth $66,360,000 after purchasing an additional 252,690 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Fluor by 100.2% during the 4th quarter. Renaissance Technologies LLC now owns 228,600 shares of the construction company's stock worth $11,275,000 after purchasing an additional 114,400 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Fluor during the 4th quarter worth approximately $205,000. Finally, Martingale Asset Management L P acquired a new position in shares of Fluor during the 4th quarter worth approximately $382,000. Institutional investors own 88.07% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. KeyCorp cut 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. Wall Street Zen cut Fluor from a "hold" rating to a "sell" rating in a research report on Saturday. Robert W. Baird decreased their target price on Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. UBS Group decreased their target price on Fluor from $60.00 to $56.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Truist Financial set a $52.00 target price on Fluor in a research report on Monday, August 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Fluor currently has a consensus rating of "Hold" and a consensus target price of $49.57.

Fluor Stock Down 1.9%

Shares of NYSE FLR traded down $0.82 during midday trading on Wednesday, hitting $42.64. 3,974,162 shares of the stock traded hands, compared to its average volume of 3,589,717. The company has a market cap of $6.89 billion, a PE ratio of 1.76 and a beta of 1.43. Fluor Corporation has a one year low of $29.20 and a one year high of $60.10. The business has a 50 day moving average price of $49.93 and a two-hundred day moving average price of $42.42. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.62 and a current ratio of 1.62.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share (EPS) 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 company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.55 billion. During the same quarter last year, the company posted $0.85 EPS. The company's quarterly revenue was down 5.9% compared to the same quarter last year. On average, equities analysts predict that Fluor Corporation will post 2.5 EPS for the current year.

Insiders Place Their Bets

In other Fluor news, insider Alvin C. Collins III sold 18,920 shares of the company'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 completion of the transaction, the insider owned 64,383 shares in the company, valued at $2,924,919.69. This represents a 22.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David E. Constable sold 40,800 shares of the company's stock in a transaction 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 transaction, the chairman owned 870,627 shares of the company's stock, valued at $42,660,723. This trade represents a 4.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,320 shares of company stock valued at $4,870,182 in the last 90 days. Corporate insiders own 1.70% of the company's stock.

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.