LPL Financial LLC Sells 14,304 Shares of Fluor Corporation (NYSE:FLR)

Key Points

• LPL Financial LLC has reduced its stake in Fluor Corporation by 12.1%, selling 14,304 shares and retaining 104,348 shares, valued at approximately $3.7 million.
• Several institutional investors have significantly increased their holdings in Fluor, with notable increases of over 196% by Sterling Capital Management and 222% by SBI Securities in recent quarters.
• Fluor reported earnings per share of $0.43, missing analysts' expectations of $0.59, and announced revenues of $3.98 billion, falling short of the $4.55 billion forecast.

LPL Financial LLC cut its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 12.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,348 shares of the construction company's stock after selling 14,304 shares during the quarter. LPL Financial LLC owned about 0.06% of Fluor worth $3,738,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sterling Capital Management LLC increased its holdings in 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 in the last quarter. SBI Securities Co. Ltd. increased its holdings in Fluor by 222.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company's stock worth $39,000 after buying an additional 760 shares in the last quarter. Versant Capital Management Inc increased its holdings in 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 buying an additional 666 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Fluor by 104.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company's stock worth $49,000 after buying an additional 701 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in Fluor by 77.8% in the first quarter. Parallel Advisors LLC now owns 2,813 shares of the construction company's stock worth $101,000 after purchasing an additional 1,231 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group dropped 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. Citigroup dropped their target price on Fluor from $71.00 to $57.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. KeyCorp cut Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 target price on the stock. in a research report on Tuesday, July 15th. Truist Financial set a $52.00 target price on Fluor in a research report on Monday, August 4th. Finally, Wall Street Zen cut Fluor from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $49.57.

Fluor Stock Up 0.6%

FLR stock opened at $41.79 on Friday. Fluor Corporation has a twelve month low of $29.20 and a twelve month high of $60.10. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.18. The stock has a market cap of $6.76 billion, a P/E ratio of 1.72 and a beta of 1.43. The business's 50-day moving average price is $49.84 and its 200-day moving average price is $42.36.

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

Insider Transactions at Fluor

In other Fluor news, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were 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 trade represents a 22.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman David E. Constable sold 40,800 shares of Fluor 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 sale, the chairman owned 870,627 shares in the company, valued at approximately $42,660,723. The trade was a 4.48% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,320 shares of company stock worth $4,870,182. Insiders own 1.70% of the company's stock.

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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