Fluor Co. (NYSE:FLR) Stake Lowered by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lowered its stake in shares of Fluor Co. (NYSE:FLR) by 9.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,730 shares of the construction company’s stock after selling 1,000 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Fluor were worth $381,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FLR. Wellington Management Group LLP grew its position in shares of Fluor by 1.4% during the third quarter. Wellington Management Group LLP now owns 17,807,780 shares of the construction company’s stock worth $653,546,000 after acquiring an additional 243,371 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Fluor by 0.7% during the third quarter. Vanguard Group Inc. now owns 14,390,483 shares of the construction company’s stock worth $528,131,000 after buying an additional 106,478 shares during the period. Victory Capital Management Inc. grew its holdings in Fluor by 12.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,975,324 shares of the construction company’s stock worth $72,494,000 after buying an additional 220,962 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Fluor by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,302,149 shares of the construction company’s stock valued at $47,789,000 after acquiring an additional 76,044 shares during the period. Finally, Artemis Investment Management LLP boosted its position in Fluor by 35.9% during the 4th quarter. Artemis Investment Management LLP now owns 737,976 shares of the construction company’s stock worth $28,907,000 after acquiring an additional 194,873 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Stock Down 1.3 %

FLR stock opened at $38.51 on Wednesday. Fluor Co. has a 52-week low of $25.69 and a 52-week high of $43.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.67 and a quick ratio of 1.60. The firm has a market capitalization of $6.55 billion, a P/E ratio of 22.39, a P/E/G ratio of 3.08 and a beta of 2.11. The company’s 50 day simple moving average is $39.85 and its 200-day simple moving average is $38.47.

Fluor (NYSE:FLR) last released its earnings results on Friday, May 3rd. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $4 billion. Fluor had a net margin of 1.97% and a return on equity of 24.98%. Fluor’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 EPS. As a group, equities research analysts anticipate that Fluor Co. will post 2.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FLR shares. Robert W. Baird raised their price target on Fluor from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday. TheStreet lowered shares of Fluor from a “b-” rating to a “c” rating in a research note on Wednesday, February 21st. KeyCorp initiated coverage on Fluor in a research report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Truist Financial reissued a “buy” rating and issued a $47.00 price objective (up previously from $46.00) on shares of Fluor in a research note on Monday. Finally, Citigroup raised their target price on Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.00.

Fluor Company 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.