Pallas Capital Advisors LLC Invests $461,000 in Fluor Co. (NYSE:FLR)

Pallas Capital Advisors LLC acquired a new stake in shares of Fluor Co. (NYSE:FLR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,866 shares of the construction company's stock, valued at approximately $461,000.

A number of other hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in shares of Fluor by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company's stock worth $256,000 after acquiring an additional 264 shares during the period. Smartleaf Asset Management LLC raised its stake in 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 purchasing an additional 287 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Fluor by 0.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,954 shares of the construction company's stock valued at $1,724,000 after purchasing an additional 300 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Fluor by 196.2% during the 4th quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock valued at $30,000 after buying an additional 408 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Fluor by 0.8% in the 4th quarter. Arizona State Retirement System now owns 49,711 shares of the construction company's stock worth $2,452,000 after buying an additional 418 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Fluor from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Robert W. Baird set a $41.00 target price on shares of Fluor in a research report on Monday, May 5th. Citigroup reduced their price target on shares of Fluor from $55.00 to $46.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. DA Davidson dropped their price objective on shares of Fluor from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Finally, Truist Financial lifted their target price on shares of Fluor from $45.00 to $47.00 and gave the company a "buy" rating in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $45.43.

Insiders Place Their Bets

In other news, 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 transaction of $859,535.60. Following the transaction, the insider now owns 64,383 shares in the company, valued at approximately $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman David E. Constable sold 40,800 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total value of $1,999,200.00. Following the sale, the chairman now owns 870,627 shares of the company's stock, valued at $42,660,723. The trade was a 4.48% 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 Price Performance

Shares of FLR stock traded down $0.18 during mid-day trading on Friday, hitting $48.21. 3,745,018 shares of the stock traded hands, compared to its average volume of 2,505,995. Fluor Co. has a twelve month low of $29.20 and a twelve month high of $60.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. The company's 50-day simple moving average is $37.82 and its 200-day simple moving average is $42.96. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 3.96, a price-to-earnings-growth ratio of 1.36 and a beta of 1.30.

Fluor (NYSE:FLR - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.23. The company had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.27 billion. Fluor had a return on equity of 15.14% and a net margin of 13.14%. The firm's 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. As a group, equities 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.