Illinois Municipal Retirement Fund Acquires New Position in Fluor Corporation (NYSE:FLR)

Illinois Municipal Retirement Fund bought a new position in shares of Fluor Corporation (NYSE:FLR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,141 shares of the construction company's stock, valued at approximately $1,474,000.

A number of other institutional investors have also modified their holdings of FLR. Sterling Capital Management LLC increased its stake in Fluor by 196.2% in the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock valued at $30,000 after purchasing an additional 408 shares during the period. Versant Capital Management Inc increased its position in Fluor by 121.5% in the 1st quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company's stock valued at $43,000 after acquiring an additional 666 shares during the period. Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 287 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Fluor by 104.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company's stock worth $49,000 after acquiring an additional 701 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Fluor in the 4th quarter valued at approximately $57,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman David E. Constable sold 40,800 shares of the firm's stock in a transaction that occurred on 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 directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alvin C. Collins III sold 18,920 shares of the 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 sale, the insider owned 64,383 shares in the company, valued at approximately $2,924,919.69. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FLR shares. Citigroup decreased their price target on Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a report on Friday, April 25th. KeyCorp reduced their target price on shares of Fluor from $54.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, April 4th. Wall Street Zen lowered shares of Fluor from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Robert W. Baird set a $41.00 price objective on shares of Fluor in a research report on Monday, May 5th. Finally, Truist Financial boosted their target price on Fluor from $47.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Fluor currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.86.

Fluor Price Performance

FLR traded up $1.24 on Friday, hitting $52.72. 2,263,112 shares of the company were exchanged, compared to its average volume of 2,650,765. Fluor Corporation has a fifty-two week low of $29.20 and a fifty-two week high of $60.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.74 and a current ratio of 1.74. The firm has a market capitalization of $8.68 billion, a P/E ratio of 5.05, a price-to-earnings-growth ratio of 2.53 and a beta of 1.34. The business's fifty day moving average is $43.24 and its 200 day moving average is $42.45.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.23. The business had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.27 billion. Fluor had a return on equity of 14.59% and a net margin of 11.13%. The company's revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, 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.