California Public Employees Retirement System Reduces Position in Fluor Co. (NYSE:FLR)

California Public Employees Retirement System lessened its holdings in shares of Fluor Co. (NYSE:FLR) by 26.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,824 shares of the construction company’s stock after selling 67,824 shares during the period. California Public Employees Retirement System owned about 0.11% of Fluor worth $7,475,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Insight Wealth Strategies LLC purchased a new position in shares of Fluor during the fourth quarter valued at approximately $1,020,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Fluor by 385.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,948 shares of the construction company’s stock valued at $6,934,000 after purchasing an additional 149,990 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Fluor by 36.7% in the third quarter. New York State Common Retirement Fund now owns 143,359 shares of the construction company’s stock valued at $5,261,000 after purchasing an additional 38,496 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Fluor by 33.9% in the third quarter. Hsbc Holdings PLC now owns 234,376 shares of the construction company’s stock valued at $8,579,000 after purchasing an additional 59,283 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Fluor by 13.1% in the third quarter. Deutsche Bank AG now owns 84,608 shares of the construction company’s stock valued at $3,105,000 after purchasing an additional 9,797 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

Shares of FLR stock opened at $38.90 on Friday. The business’s fifty day simple moving average is $39.70 and its 200-day simple moving average is $38.38. The company has a market cap of $6.62 billion, a PE ratio of 69.46, a PEG ratio of 3.20 and a beta of 2.11. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.56. Fluor Co. has a 12-month low of $25.69 and a 12-month high of $43.24.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. Fluor had a return on equity of 24.25% and a net margin of 0.90%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that Fluor Co. will post 2.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FLR has been the subject of a number of research reports. Truist Financial reiterated a “buy” rating and issued a $46.00 price target on shares of Fluor in a report on Monday, March 25th. Citigroup boosted their price objective on shares of Fluor from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. KeyCorp started coverage on shares of Fluor in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. Finally, TheStreet downgraded shares of Fluor from a “b-” rating to a “c” rating in a research note on Wednesday, February 21st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.17.

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.