Wesleyan Assurance Society Decreases Stock Position in Fluor Corporation (NYSE:FLR)

Wesleyan Assurance Society lowered its holdings in shares of Fluor Corporation (NYSE:FLR - Free Report) by 7.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 175,000 shares of the construction company's stock after selling 15,000 shares during the period. Wesleyan Assurance Society owned 0.10% of Fluor worth $6,263,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Alyeska Investment Group L.P. grew its holdings in shares of Fluor by 329.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company's stock valued at $97,954,000 after buying an additional 1,523,647 shares during 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 valued at $52,129,000 after acquiring an additional 1,046,610 shares during the last quarter. Hood River Capital Management LLC raised its position in Fluor by 58.4% during the fourth quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company's stock worth $96,285,000 after acquiring an additional 719,583 shares during the period. Yaupon Capital Management LP purchased a new position in Fluor during the fourth quarter worth about $26,353,000. Finally, Frontier Capital Management Co. LLC acquired a new stake in Fluor during the fourth quarter worth approximately $25,117,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Stock Up 1.5%

Shares of FLR stock traded up $0.86 during mid-day trading on Friday, reaching $56.48. 1,015,989 shares of the company were exchanged, compared to its average volume of 3,321,371. The company has a market capitalization of $9.30 billion, a P/E ratio of 5.42, a P/E/G ratio of 2.67 and a beta of 1.34. Fluor Corporation has a fifty-two week low of $29.20 and a fifty-two week high of $60.10. The business's 50 day simple moving average is $48.08 and its 200 day simple moving average is $42.76. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.74 and a current ratio of 1.74.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 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 during the quarter, compared to analyst estimates of $4.27 billion. During the same period in the previous year, the company earned $0.47 earnings per share. The company's quarterly revenue was up 6.6% compared to the same quarter last year. Research analysts predict that Fluor Corporation will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David E. Constable sold 40,800 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $49.00, for a total value of $1,999,200.00. Following the sale, the chairman owned 870,627 shares in the company, valued at $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 a total of 98,320 shares of company stock valued at $4,870,182 in the last three months. 1.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FLR. Citigroup decreased their target price on Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a report on Friday, April 25th. Truist Financial boosted their price objective on Fluor from $47.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. UBS Group reaffirmed a "buy" rating and set a $60.00 price target (up previously from $48.00) on shares of Fluor in a research note on Tuesday, June 24th. Robert W. Baird increased their price objective on Fluor from $41.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Finally, KeyCorp lowered Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 target price on the stock. in a research note on Tuesday, July 15th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $50.86.

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.