The Manufacturers Life Insurance Company cut its position in shares of Fluor Corporation (NYSE:FLR – Free Report) by 7.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,184 shares of the construction company’s stock after selling 14,110 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Fluor were worth $7,986,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Seelaus Asset Management LLC lifted its position in Fluor by 2.9% during the fourth quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company’s stock valued at $348,000 after buying an additional 245 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Fluor by 7.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after buying an additional 248 shares during the period. Clear Creek Financial Management LLC lifted its position in Fluor by 2.7% during the 4th quarter. Clear Creek Financial Management LLC now owns 11,756 shares of the construction company’s stock valued at $466,000 after acquiring an additional 310 shares during the period. Global Retirement Partners LLC lifted its position in Fluor by 91.7% during the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after acquiring an additional 311 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Fluor by 16.4% during the first quarter. Parallel Advisors LLC now owns 2,667 shares of the construction company’s stock worth $124,000 after acquiring an additional 375 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on FLR shares. Truist Financial raised their target price on shares of Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Zacks Research cut Fluor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Robert W. Baird raised their price objective on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Citigroup lowered their price objective on Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, Weiss Ratings raised Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Fluor presently has a consensus rating of “Hold” and an average price target of $57.20.
Fluor Stock Performance
Shares of NYSE FLR opened at $51.51 on Wednesday. The firm’s 50-day moving average price is $50.46 and its 200-day moving average price is $48.36. Fluor Corporation has a 52-week low of $39.33 and a 52-week high of $54.79. The company has a market cap of $7.19 billion, a PE ratio of 29.95, a PEG ratio of 1.59 and a beta of 1.25. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36.
Fluor (NYSE:FLR – Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the company earned $0.73 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, analysts anticipate that Fluor Corporation will post 2.63 EPS for the current year.
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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