Victory Capital Management Inc. Acquires 51,037 Shares of Fluor Corporation (NYSE:FLR)

Victory Capital Management Inc. raised its holdings in shares of Fluor Corporation (NYSE:FLR - Free Report) by 15.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 382,796 shares of the construction company's stock after buying an additional 51,037 shares during the quarter. Victory Capital Management Inc. owned about 0.23% of Fluor worth $13,712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Alyeska Investment Group L.P. boosted its holdings in shares of Fluor by 329.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company's stock worth $97,954,000 after purchasing an additional 1,523,647 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Fluor by 10,125.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company's stock worth $52,129,000 after purchasing an additional 1,046,610 shares in the last quarter. Hood River Capital Management LLC lifted its stake in shares of Fluor by 58.4% in the 4th quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company's stock valued at $96,285,000 after acquiring an additional 719,583 shares during the last quarter. Yaupon Capital Management LP bought a new stake in shares of Fluor in the 4th quarter valued at about $26,353,000. Finally, Frontier Capital Management Co. LLC bought a new stake in shares of Fluor in the 4th quarter valued at about $25,117,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group reissued a "buy" rating and issued a $60.00 target price (up previously from $48.00) on shares of Fluor in a research note on Tuesday, June 24th. Robert W. Baird upped their price target on Fluor from $41.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Citigroup lowered their price target on Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Truist Financial upped their price target on Fluor from $47.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Finally, Wall Street Zen lowered Fluor from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $50.86.

Insiders Place Their Bets

In other Fluor news, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $45.43, for a total transaction of $859,535.60. Following the sale, the insider directly owned 64,383 shares in the company, valued at approximately $2,924,919.69. This trade represents a 22.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman David E. Constable sold 40,800 shares of Fluor stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total value of $1,999,200.00. Following the completion of the sale, the chairman directly owned 870,627 shares of the company's stock, valued at approximately $42,660,723. The trade was a 4.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,320 shares of company stock valued at $4,870,182 in the last quarter. 1.70% of the stock is owned by company insiders.

Fluor Stock Up 1.8%

Shares of FLR stock traded up $0.99 during midday trading on Friday, reaching $56.61. 2,819,767 shares of the stock were exchanged, compared to its average volume of 2,871,179. Fluor Corporation has a 1 year low of $29.20 and a 1 year high of $60.10. The company's 50 day moving average is $48.44 and its two-hundred day moving average is $42.80. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.30. The firm has a market cap of $9.32 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 2.67 and a beta of 1.34.

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

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.