Pacific Heights Asset Management LLC lifted its holdings in Fluor Corporation (NYSE:FLR – Free Report) by 23.1% in the fourth quarter, Holdings Channel reports. The fund owned 400,000 shares of the construction company’s stock after purchasing an additional 75,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in Fluor were worth $15,852,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Fluor by 8.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,137,672 shares of the construction company’s stock valued at $174,077,000 after acquiring an additional 328,122 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Fluor during the fourth quarter valued at about $1,350,000. Quadrant Private Wealth Management LLC purchased a new stake in Fluor during the third quarter valued at about $3,475,000. Goodman Financial Corp purchased a new stake in Fluor during the fourth quarter valued at about $7,610,000. Finally, Lingohr Asset Management GmbH grew its position in Fluor by 792.4% during the third quarter. Lingohr Asset Management GmbH now owns 85,669 shares of the construction company’s stock valued at $3,604,000 after acquiring an additional 76,069 shares during the period. Institutional investors own 88.07% of the company’s stock.
Fluor Price Performance
Shares of NYSE FLR opened at $44.41 on Monday. Fluor Corporation has a 1-year low of $37.33 and a 1-year high of $57.50. The business has a 50-day moving average of $47.27 and a 200-day moving average of $45.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 1.35 and a beta of 1.33.
Insider Transactions at Fluor
In related news, insider Kevin B. Hammonds sold 2,988 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $52.61, for a total value of $157,198.68. Following the sale, the insider directly owned 16,273 shares of the company’s stock, valued at $856,122.53. This represents a 15.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tracey H. Cook sold 2,589 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $53.22, for a total transaction of $137,786.58. Following the completion of the sale, the insider directly owned 10,731 shares in the company, valued at $571,103.82. This represents a 19.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,110 shares of company stock valued at $1,168,920 over the last ninety days. 1.70% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on FLR shares. Citigroup lowered their price target on Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Truist Financial reissued a “buy” rating and set a $57.00 price target (down from $59.00) on shares of Fluor in a research report on Monday, May 11th. DA Davidson boosted their price target on Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. UBS Group restated a “buy” rating and set a $57.00 price objective on shares of Fluor in a research note on Thursday, February 19th. Finally, Robert W. Baird upped their target price on Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Fluor has a consensus rating of “Moderate Buy” and an average price target of $53.33.
Fluor 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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