Thrivent Financial for Lutherans Has $5.85 Million Position in Fluor Corporation $FLR

Key Points

• Thrivent Financial for Lutherans cut its Fluor stake by 14.9% in the fourth quarter, selling 25,785 shares and leaving it with 147,500 shares valued at about $5.85 million.
• Fluor reported mixed quarterly results, with earnings of $0.14 per share missing estimates by a wide margin and revenue of $3.66 billion also coming in below forecasts. Revenue fell 8% year over year.
• Analysts remain cautiously positive overall: Fluor has a consensus rating of “Moderate Buy” and an average price target of $53.33, despite some recent rating downgrades and insider share sales.

Thrivent Financial for Lutherans reduced its holdings in Fluor Corporation (NYSE:FLR - Free Report) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 147,500 shares of the construction company's stock after selling 25,785 shares during the quarter. Thrivent Financial for Lutherans owned about 0.09% of Fluor worth $5,845,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. grew its position in shares of Fluor by 249.0% in the fourth quarter. Assetmark Inc. now owns 677 shares of the construction company's stock valued at $27,000 after purchasing an additional 483 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company's stock valued at $31,000 after buying an additional 734 shares during the period. Banque Transatlantique SA lifted its stake in shares of Fluor by 312.5% in the second quarter. Banque Transatlantique SA now owns 825 shares of the construction company's stock valued at $43,000 after buying an additional 625 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Fluor by 1,167.0% in the third quarter. CIBC Private Wealth Group LLC now owns 1,267 shares of the construction company's stock valued at $53,000 after buying an additional 1,167 shares during the period. Finally, Westfuller Advisors LLC bought a new stake in shares of Fluor in the third quarter valued at about $55,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fluor

In other Fluor news, insider Anthony Morgan sold 3,387 shares of the firm's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $53.09, for a total transaction of $179,815.83. Following the completion of the transaction, the insider owned 45,999 shares in the company, valued at $2,442,086.91. This trade represents a 6.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael E. Alexander sold 3,387 shares of the firm's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $53.07, for a total transaction of $179,748.09. Following the transaction, the insider owned 68,664 shares of the company's stock, valued at approximately $3,643,998.48. This represents a 4.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.70% of the stock is owned by company insiders.

Fluor Stock Up 2.6%

Shares of FLR opened at $44.54 on Friday. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 1.32 and a beta of 1.33. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. Fluor Corporation has a 12 month low of $37.48 and a 12 month high of $57.50. The company has a 50-day moving average price of $47.13 and a two-hundred day moving average price of $45.65.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly 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). The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.The firm's revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 EPS. Equities analysts predict that Fluor Corporation will post 2.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FLR has been the subject of several research reports. DA Davidson increased their target price on shares of Fluor from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Wall Street Zen upgraded shares of Fluor from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. Zacks Research cut shares of Fluor from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 20th. UBS Group reiterated a "buy" rating and issued a $57.00 target price on shares of Fluor in a research note on Thursday, February 19th. Finally, Robert W. Baird increased their target price on shares of Fluor from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Fluor presently has a consensus rating of "Moderate Buy" and an average price target of $53.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.