Lesa Sroufe & Co Takes $1.73 Million Position in Fluor Co. (NYSE:FLR)

Lesa Sroufe & Co bought a new stake in Fluor Co. (NYSE:FLR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,292 shares of the construction company's stock, valued at approximately $1,730,000. Fluor accounts for about 1.7% of Lesa Sroufe & Co's holdings, making the stock its 26th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its holdings in shares of Fluor by 28.8% in the fourth quarter. Vontobel Holding Ltd. now owns 11,284 shares of the construction company's stock worth $557,000 after acquiring an additional 2,524 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Fluor by 1.7% in the fourth quarter. Rhumbline Advisers now owns 547,402 shares of the construction company's stock valued at $26,998,000 after buying an additional 9,338 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Fluor in the fourth quarter valued at approximately $2,417,000. CIBC Asset Management Inc lifted its position in shares of Fluor by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company's stock valued at $256,000 after buying an additional 264 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Fluor by 826.2% in the fourth quarter. Venturi Wealth Management LLC now owns 1,556 shares of the construction company's stock valued at $77,000 after buying an additional 1,388 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FLR. Robert W. Baird set a $41.00 price target on Fluor in a report on Monday, May 5th. Truist Financial upped their price objective on Fluor from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Wall Street Zen downgraded Fluor from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. KeyCorp lowered their target price on Fluor from $54.00 to $41.00 and set an "overweight" rating for the company in a report on Friday, April 4th. Finally, Citigroup lowered their target price on Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Fluor has a consensus rating of "Moderate Buy" and an average target price of $45.43.

Insiders Place Their Bets

In related news, Chairman David E. Constable sold 40,800 shares of Fluor stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total transaction of $1,999,200.00. Following the sale, the chairman now directly owns 870,627 shares in the company, valued at approximately $42,660,723. This trade represents a 4.48% decrease in their ownership of the stock. The sale 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 Fluor 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 sale, the insider now owns 64,383 shares in the company, valued at $2,924,919.69. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

Fluor Trading Up 5.4%

NYSE FLR opened at $50.87 on Tuesday. The business has a 50 day simple moving average of $38.57 and a 200 day simple moving average of $42.70. Fluor Co. has a one year low of $29.20 and a one year high of $60.10. The stock has a market capitalization of $8.38 billion, a P/E ratio of 4.17, a P/E/G ratio of 1.36 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.23. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. Fluor had a return on equity of 15.14% and a net margin of 13.14%. The company's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. Research analysts expect that Fluor Co. 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.

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