Shelton Wealth Management LLC Invests $734,000 in Fluor Corporation (NYSE:FLR)

Shelton Wealth Management LLC purchased a new position in shares of Fluor Corporation (NYSE:FLR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,480 shares of the construction company's stock, valued at approximately $734,000.

A number of other hedge funds have also modified their holdings of FLR. Alyeska Investment Group L.P. grew its holdings in shares of Fluor by 329.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company's stock worth $97,954,000 after purchasing an additional 1,523,647 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Fluor by 10,125.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company's stock worth $52,129,000 after purchasing an additional 1,046,610 shares during the period. Hood River Capital Management LLC boosted its holdings in Fluor by 58.4% during the 4th quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company's stock valued at $96,285,000 after acquiring an additional 719,583 shares during the period. Yaupon Capital Management LP acquired a new position in Fluor in the 4th quarter valued at about $26,353,000. Finally, Frontier Capital Management Co. LLC purchased a new stake in Fluor during the fourth quarter worth about $25,117,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FLR has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Fluor from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. KeyCorp cut 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. Truist Financial boosted their price target on shares of Fluor from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. UBS Group cut their price target on shares of Fluor from $49.00 to $48.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Barclays set a $40.00 price target on shares of Fluor and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $45.43.

Insider Transactions at Fluor

In other Fluor news, insider Alvin C. Collins III sold 18,920 shares of Fluor 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 transaction, the insider now owns 64,383 shares of the company's stock, valued at $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman David E. Constable sold 40,800 shares of Fluor stock in a transaction that occurred on 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 transaction, the chairman now directly owns 870,627 shares in the company, valued at approximately $42,660,723. This trade represents a 4.48% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

Fluor Stock Performance

Shares of FLR opened at $49.99 on Friday. The stock has a 50-day simple moving average of $39.51 and a 200-day simple moving average of $42.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market capitalization of $8.23 billion, a PE ratio of 4.79, a PEG ratio of 2.40 and a beta of 1.30. Fluor Corporation has a 1 year low of $29.20 and a 1 year high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last issued its earnings results 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. Fluor had a return on equity of 14.59% and a net margin of 11.13%. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter last year, the company earned $0.47 EPS. The business's quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts predict that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Fluor Company 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.

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