Prescott Group Capital Management L.L.C. Lowers Position in Fluor Corporation (NYSE:FLR)

Key Points

• Prescott Group Capital Management reduced its stake in Fluor Corporation by 33.3%, owning 50,000 shares after selling 25,000 shares during the first quarter.
• Several other institutional investors significantly increased their positions in Fluor, with Pacer Advisors Inc. raising its stake by 4,097.7% to over 1.3 million shares valued at approximately $47.7 million.
• Analysts have mixed ratings on Fluor, with a consensus rating of "Hold" and a target price of $50.86, while some firms like Truist Financial and UBS Group have a "buy" rating and higher target prices.

Prescott Group Capital Management L.L.C. decreased its position in Fluor Corporation (NYSE:FLR - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,000 shares of the construction company's stock after selling 25,000 shares during the period. Prescott Group Capital Management L.L.C.'s holdings in Fluor were worth $1,791,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLR. Pacer Advisors Inc. increased its stake in shares of 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 purchasing an additional 1,300,568 shares during the last quarter. Cetera Investment Advisers raised its holdings in Fluor by 54.7% during the 1st quarter. Cetera Investment Advisers now owns 25,804 shares of the construction company's stock valued at $924,000 after acquiring an additional 9,126 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Fluor during the 1st quarter valued at $319,000. Foundry Partners LLC bought a new stake in Fluor during the 1st quarter valued at $546,000. Finally, Jennison Associates LLC bought a new stake in Fluor during the 1st quarter valued at $815,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Price Performance

FLR traded up $0.11 during trading on Tuesday, reaching $56.34. The stock had a trading volume of 1,336,572 shares, compared to its average volume of 3,314,222. The stock has a market cap of $9.28 billion, a PE ratio of 5.41, a PEG ratio of 2.72 and a beta of 1.34. 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 Corporation has a one year low of $29.20 and a one year high of $60.10. The business has a 50-day moving average of $48.81 and a 200-day moving average of $42.77.

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. Fluor had a net margin of 11.13% and a return on equity of 14.59%. The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The company's revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In other news, Chairman David E. Constable sold 38,600 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total transaction of $2,011,446.00. Following the completion of the sale, the chairman directly owned 792,027 shares in the company, valued at approximately $41,272,526.97. This represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $45.43, for a total transaction of $859,535.60. Following the sale, the insider owned 64,383 shares of the company's stock, valued at approximately $2,924,919.69. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,320 shares of company stock valued at $4,870,182. Company insiders own 1.70% of the company's stock.

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.