Lyell Wealth Management LP Invests $430,000 in Fluor Corporation (NYSE:FLR)

Lyell Wealth Management LP purchased a new position in Fluor Corporation (NYSE:FLR - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,000 shares of the construction company's stock, valued at approximately $430,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Atlas Wealth LLC raised its holdings in Fluor by 49.5% during the 1st quarter. Atlas Wealth LLC now owns 16,429 shares of the construction company's stock worth $588,000 after buying an additional 5,441 shares during the period. Bayforest Capital Ltd raised its holdings in Fluor by 140.6% during the 1st quarter. Bayforest Capital Ltd now owns 26,589 shares of the construction company's stock worth $952,000 after buying an additional 15,536 shares during the period. Federated Hermes Inc. raised its holdings in Fluor by 995.8% during the 1st quarter. Federated Hermes Inc. now owns 471,654 shares of the construction company's stock worth $16,895,000 after buying an additional 428,612 shares during the period. Hurley Capital LLC acquired a new stake in Fluor during the 1st quarter worth about $29,000. Finally, Pacer Advisors Inc. raised its holdings in Fluor by 4,097.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,332,307 shares of the construction company's stock worth $47,723,000 after buying an additional 1,300,568 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Robert W. Baird boosted their price objective on Fluor from $41.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. UBS Group restated a "buy" rating and set a $60.00 price objective (up previously from $48.00) on shares of Fluor in a report on Tuesday, June 24th. Wall Street Zen cut Fluor from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Truist Financial lifted their target price on Fluor from $47.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Finally, Citigroup reaffirmed a "buy" rating and set a $71.00 target price (up previously from $47.00) on shares of Fluor in a research note on Monday, July 28th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $54.43.

Fluor Stock Down 27.0%

Shares of NYSE FLR traded down $15.31 during trading hours on Friday, hitting $41.46. The stock had a trading volume of 25,535,948 shares, compared to its average volume of 2,757,772. The company has a market capitalization of $6.83 billion, a P/E ratio of 3.98, a P/E/G ratio of 2.73 and a beta of 1.43. The firm's 50-day moving average price is $49.91 and its two-hundred day moving average price is $42.96. Fluor Corporation has a 52 week low of $29.20 and a 52 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.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.16). The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.55 billion. Fluor had a net margin of 11.13% and a return on equity of 14.59%. The company's quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. Analysts anticipate that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Insider Activity at Fluor

In other Fluor news, insider Alvin C. Collins III sold 18,920 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $45.43, for a total transaction of $859,535.60. Following the completion of the sale, the insider owned 64,383 shares of the company's stock, valued at $2,924,919.69. This represents a 22.71% decrease in their ownership of the stock. 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 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 sale, the chairman directly owned 792,027 shares of the company's stock, valued at $41,272,526.97. The trade was a 4.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 98,320 shares of company stock valued at $4,870,182. 1.70% of the stock is currently owned by company insiders.

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.