Southport Management L.L.C. Reduces Position in Fluor Co. (NYSE:FLR)

Southport Management L.L.C. lessened its stake in shares of Fluor Co. (NYSE:FLR) by 27.2% during the 4th quarter, Holdings Channel reports. The firm owned 20,100 shares of the construction company’s stock after selling 7,500 shares during the quarter. Fluor comprises approximately 3.6% of Southport Management L.L.C.’s investment portfolio, making the stock its 14th largest position. Southport Management L.L.C.’s holdings in Fluor were worth $991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of FLR. Sterling Capital Management LLC lifted its stake in Fluor by 196.2% during 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 during the period. Golden State Wealth Management LLC acquired a new stake in Fluor during the 4th quarter valued at approximately $33,000. Smartleaf Asset Management LLC lifted its stake in Fluor by 43.0% during 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 during the period. 1620 Investment Advisors Inc. acquired a new stake in Fluor during the 4th quarter valued at approximately $57,000. Finally, Venturi Wealth Management LLC lifted its stake in Fluor by 826.2% during the 4th quarter. Venturi Wealth Management LLC now owns 1,556 shares of the construction company’s stock valued at $77,000 after acquiring an additional 1,388 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

FLR opened at $38.54 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77. The firm has a fifty day moving average price of $35.42 and a 200 day moving average price of $44.47. The stock has a market cap of $6.35 billion, a P/E ratio of 3.16, a P/E/G ratio of 1.36 and a beta of 1.24. Fluor Co. has a 1 year low of $29.20 and a 1 year high of $60.10.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.23. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.27 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. Equities research analysts anticipate that Fluor Co. will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on FLR. Citigroup decreased their price objective on shares of Fluor from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Barclays set a $40.00 target price on shares of Fluor and gave the company an “equal weight” rating in a research note on Thursday, February 27th. StockNews.com cut shares of Fluor from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Robert W. Baird set a $41.00 target price on shares of Fluor in a research note on Monday, May 5th. Finally, UBS Group decreased their target price on shares of Fluor from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Four 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 currently has an average rating of “Moderate Buy” and an average price target of $45.43.

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.