Teacher Retirement System of Texas Boosts Stake in Fluor Corporation (NYSE:FLR)

Teacher Retirement System of Texas increased its stake in Fluor Corporation (NYSE:FLR - Free Report) by 64.8% during the 1st 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 buying an additional 32,442 shares during the period. Teacher Retirement System of Texas' holdings in Fluor were worth $2,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its position in 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 acquiring an additional 287 shares in the last quarter. Sterling Capital Management LLC lifted its position in 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 acquiring an additional 408 shares in the last quarter. Arizona State Retirement System lifted its position in Fluor by 0.8% in the 4th quarter. Arizona State Retirement System now owns 49,711 shares of the construction company's stock valued at $2,452,000 after acquiring an additional 418 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Fluor by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 20,099 shares of the construction company's stock valued at $719,000 after acquiring an additional 545 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Fluor by 3.6% in the 4th quarter. Cetera Investment Advisers now owns 16,678 shares of the construction company's stock valued at $823,000 after acquiring an additional 577 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Insider Buying and Selling at Fluor

In other Fluor news, Chairman David E. Constable sold 38,600 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total value of $2,011,446.00. Following the completion of the transaction, the chairman 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alvin C. Collins III sold 18,920 shares of the company's 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 transaction, the insider owned 64,383 shares of the company's stock, valued at approximately $2,924,919.69. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,320 shares of company stock worth $4,870,182. 1.70% of the stock is owned by corporate insiders.

Fluor Stock Up 0.4%

FLR stock traded up $0.22 during trading on Friday, hitting $52.26. 2,404,595 shares of the company's stock traded hands, compared to its average volume of 2,678,396. The firm has a market capitalization of $8.61 billion, a P/E ratio of 5.01, a PEG ratio of 2.51 and a beta of 1.34. The business has a fifty day simple moving average of $44.90 and a two-hundred day simple moving average of $42.45. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.30. 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 released its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.23. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. Fluor had a net margin of 11.13% and a return on equity of 14.59%. The business's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share. Sell-side analysts anticipate that Fluor Corporation will post 2.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FLR. KeyCorp lowered their price target on Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, April 4th. Truist Financial increased their price target on Fluor from $47.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Wall Street Zen cut Fluor from a "buy" rating to a "hold" rating in a report on Monday, May 5th. UBS Group reaffirmed a "buy" rating and issued a $60.00 target price (up from $48.00) on shares of Fluor in a report on Tuesday, June 24th. Finally, Citigroup decreased their target price on Fluor from $55.00 to $46.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Four investment 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 has a consensus rating of "Moderate Buy" and a consensus price target of $50.86.

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.