Pacific Heights Asset Management LLC Has $7.16 Million Holdings in Fluor Corporation (NYSE:FLR)

Pacific Heights Asset Management LLC grew its position in Fluor Corporation (NYSE:FLR - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 200,000 shares of the construction company's stock after purchasing an additional 15,000 shares during the period. Pacific Heights Asset Management LLC owned about 0.12% of Fluor worth $7,164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLR. Proficio Capital Partners LLC acquired a new stake in shares of Fluor during the fourth quarter worth $2,926,000. US Bancorp DE raised its holdings in shares of Fluor by 2.2% during the fourth quarter. US Bancorp DE now owns 33,781 shares of the construction company's stock worth $1,666,000 after acquiring an additional 720 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company's stock worth $47,000 after acquiring an additional 287 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Fluor by 179.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,744 shares of the construction company's stock worth $185,000 after acquiring an additional 2,404 shares during the period. Finally, M&T Bank Corp acquired a new stake in shares of Fluor during the fourth quarter worth $408,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman David E. Constable sold 40,800 shares of the company's stock in a transaction dated 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 transaction, the chairman owned 870,627 shares in the company, valued at approximately $42,660,723. This represents a 4.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alvin C. Collins III sold 18,920 shares of the company's stock in a transaction dated 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 transaction, 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. Insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FLR. Robert W. Baird set a $41.00 price objective on shares of Fluor in a report on Monday, May 5th. UBS Group reiterated a "buy" rating and issued a $60.00 price target (up from $48.00) on shares of Fluor in a research note on Tuesday, June 24th. Truist Financial lifted their price target on shares of Fluor from $47.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday. KeyCorp lowered their price target on shares of Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, April 4th. Finally, Citigroup lowered their price target on shares of Fluor from $55.00 to $46.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.86.

Fluor Stock Performance

Shares of Fluor stock traded up $1.24 during trading on Friday, hitting $52.72. 2,263,112 shares of the stock were exchanged, compared to its average volume of 2,656,955. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 5.05, a price-to-earnings-growth ratio of 2.53 and a beta of 1.34. The company has a fifty day moving average price of $43.24 and a 200-day moving average price of $42.40. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $60.10. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.30.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.23. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. Fluor had a net margin of 11.13% and a return on equity of 14.59%. Fluor's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. As a group, equities analysts predict that Fluor Corporation will post 2.5 EPS for the current fiscal 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.