Teacher Retirement System of Texas Acquires 32,442 Shares of Fluor Corporation (NYSE:FLR)

Teacher Retirement System of Texas increased its position in shares of Fluor Corporation (NYSE:FLR - Free Report) by 64.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,512 shares of the construction company's stock after acquiring an additional 32,442 shares during the period. Teacher Retirement System of Texas' holdings in Fluor were worth $2,956,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC grew its position in shares of Fluor by 196.2% in 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 last quarter. Versant Capital Management Inc lifted its stake in shares of Fluor by 121.5% in the 1st quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company's stock valued at $43,000 after purchasing an additional 666 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Fluor by 43.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company's stock valued at $47,000 after purchasing an additional 287 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Fluor by 104.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company's stock valued at $49,000 after purchasing an additional 701 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Fluor in the 4th quarter valued at about $57,000. Institutional investors own 88.07% of the company's stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FLR shares. UBS Group reissued a "buy" rating and issued a $60.00 price objective (up from $48.00) on shares of Fluor in a research note on Tuesday, June 24th. Truist Financial upped their target price on Fluor from $47.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Robert W. Baird set a $41.00 price objective on Fluor in a report on Monday, May 5th. Wall Street Zen lowered Fluor from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, KeyCorp reduced their price objective on Fluor from $54.00 to $41.00 and set an "overweight" rating for the company in a report on Friday, April 4th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $48.86.

Fluor Stock Performance

Shares of NYSE:FLR traded up $0.44 during trading on Wednesday, hitting $51.67. 2,015,315 shares of the company were exchanged, compared to its average volume of 2,660,642. The company has a market cap of $8.51 billion, a PE ratio of 4.95, a P/E/G ratio of 2.51 and a beta of 1.34. The stock has a 50 day moving average of $43.91 and a 200 day moving average of $42.42. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $60.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.74 and a quick ratio of 1.74.

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