Strs Ohio Sells 24,000 Shares of Fluor Corporation $FLR

Key Points

• Strs Ohio reduced its Fluor stake by 59.1% in the first quarter, selling 24,000 shares and leaving it with 16,600 shares valued at about $774,000.
• Wall Street sentiment is mixed but constructive, with four analysts rating Fluor a Buy and four a Hold; the consensus rating is Moderate Buy with an average price target of $54.50.
• Fluor’s latest earnings missed expectations, reporting $0.14 EPS versus the $0.66 estimate and revenue of $3.66 billion, though analysts still expect $2.63 EPS for the full year.

Strs Ohio cut its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 59.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,600 shares of the construction company's stock after selling 24,000 shares during the period. Strs Ohio's holdings in Fluor were worth $774,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FLR. Root Financial Partners LLC boosted its position in shares of Fluor by 121.4% in the first quarter. Root Financial Partners LLC now owns 826 shares of the construction company's stock valued at $39,000 after acquiring an additional 453 shares during the period. Pictet Asset Management Holding SA increased its holdings in Fluor by 11.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 26,213 shares of the construction company's stock worth $1,223,000 after acquiring an additional 2,687 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Fluor in the 1st quarter worth approximately $2,179,000. OP Asset Management Ltd bought a new position in Fluor in the 1st quarter valued at $4,271,000. Finally, SG Americas Securities LLC grew its position in shares of Fluor by 4.8% during the 1st quarter. SG Americas Securities LLC now owns 47,894 shares of the construction company's stock valued at $2,234,000 after purchasing an additional 2,187 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FLR shares. Robert W. Baird increased their price objective on Fluor from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Citigroup reduced their target price on Fluor from $61.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Weiss Ratings upgraded Fluor from a "sell (d+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Zacks Research downgraded Fluor from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 20th. Finally, Truist Financial boosted their price objective on Fluor from $57.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $54.50.

Fluor Price Performance

Shares of Fluor stock opened at $49.56 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. Fluor Corporation has a 52-week low of $37.62 and a 52-week high of $57.50. The company has a fifty day moving average of $49.12 and a 200-day moving average of $47.25. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23.

Fluor (NYSE:FLR - Get Free Report) last issued its earnings results on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same quarter in the previous year, the business earned $0.73 EPS. Fluor's revenue for the quarter was down 8.0% compared to the same quarter last year. Equities research analysts expect that Fluor Corporation will post 2.63 EPS for the current year.

About Fluor

Fluor Corporation NYSE: FLR is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company's core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor's diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.

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