Vanguard Group Inc. Cuts Stake in Fluor Corporation $FLR

Key Points

• Vanguard trimmed its stake in Fluor by 1.2% in Q4—selling 194,668 shares—and still owns 15,822,717 shares (about a 9.82% stake) valued at roughly $627 million.
• Insiders have been net sellers, disposing of 22,110 shares worth about $1.17 million in the past 90 days (insiders now own ~1.70% of the company); recent individual sales included Mark E. Fields and Anthony Morgan.
• Analyst views and results are mixed: four Buys, three Holds and one Sell leave an average rating of "Hold" with a $54.33 target, while the latest quarter slightly missed EPS and revenue estimates, reflecting an uncertain near-term outlook.

Vanguard Group Inc. trimmed its position in shares of Fluor Corporation (NYSE:FLR - Free Report) by 1.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 15,822,717 shares of the construction company's stock after selling 194,668 shares during the quarter. Vanguard Group Inc. owned about 9.82% of Fluor worth $627,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FLR. Rubric Capital Management LP bought a new position in Fluor during the 2nd quarter valued at about $205,080,000. Sourcerock Group LLC bought a new position in Fluor during the 2nd quarter valued at about $85,327,000. Ameriprise Financial Inc. lifted its stake in Fluor by 361.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company's stock valued at $77,289,000 after acquiring an additional 1,180,838 shares during the period. Balyasny Asset Management L.P. lifted its stake in Fluor by 90.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,586,492 shares of the construction company's stock valued at $81,339,000 after acquiring an additional 755,337 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Fluor by 27.4% during the 3rd quarter. Alliancebernstein L.P. now owns 3,280,423 shares of the construction company's stock valued at $138,007,000 after acquiring an additional 704,779 shares during the period. Institutional investors own 88.07% of the company's stock.

Insider Transactions at Fluor

In other Fluor news, insider Mark E. Fields sold 5,178 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $52.36, for a total transaction of $271,120.08. Following the sale, the insider owned 194,514 shares in the company, valued at approximately $10,184,753.04. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony Morgan sold 3,387 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $53.09, for a total transaction of $179,815.83. Following the sale, the insider owned 45,999 shares in the company, valued at approximately $2,442,086.91. The trade was a 6.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 22,110 shares of company stock worth $1,168,920. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FLR shares. Weiss Ratings cut shares of Fluor from a "hold (c)" rating to a "sell (d+)" rating in a research note on Tuesday, February 17th. UBS Group restated a "buy" rating and set a $57.00 target price on shares of Fluor in a research note on Thursday, February 19th. Robert W. Baird upped their target price on shares of Fluor from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Wednesday, February 18th. Citigroup upped their target price on shares of Fluor from $57.00 to $61.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Finally, Truist Financial increased their price objective on shares of Fluor from $56.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Fluor presently has an average rating of "Hold" and an average target price of $54.33.

Fluor Price Performance

Shares of NYSE:FLR opened at $53.08 on Monday. The firm's 50 day moving average price is $48.04 and its 200-day moving average price is $45.87. Fluor Corporation has a twelve month low of $34.28 and a twelve month high of $57.50. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $7.60 billion, a PE ratio of -68.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.33.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the company earned $0.48 EPS. Fluor's revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts expect that Fluor Corporation will post 2.75 EPS for the current year.

Fluor Company Profile

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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