Tower Research Capital LLC TRC Sells 856 Shares of Fluor Co. (NYSE:FLR)

Tower Research Capital LLC TRC lowered its holdings in Fluor Co. (NYSE:FLR) by 20.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,241 shares of the construction company’s stock after selling 856 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Fluor were worth $100,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FLR. Metropolitan Life Insurance Co NY raised its holdings in Fluor by 3.5% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 8,740 shares of the construction company’s stock worth $303,000 after purchasing an additional 292 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Fluor by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 37,605 shares of the construction company’s stock valued at $936,000 after acquiring an additional 349 shares during the last quarter. First Trust Advisors LP boosted its stake in Fluor by 3.4% in the first quarter. First Trust Advisors LP now owns 12,488 shares of the construction company’s stock valued at $358,000 after acquiring an additional 411 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Fluor by 4.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,343 shares of the construction company’s stock worth $268,000 after purchasing an additional 414 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. lifted its holdings in shares of Fluor by 5.1% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 9,347 shares of the construction company’s stock valued at $268,000 after purchasing an additional 457 shares during the last quarter. Hedge funds and other institutional investors own 99.20% of the company’s stock.

Fluor Stock Up 2.0 %

Shares of FLR opened at $35.70 on Monday. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of -89.25 and a beta of 2.25. Fluor Co. has a 52 week low of $23.37 and a 52 week high of $38.20. The stock’s 50-day moving average price is $31.95 and its 200-day moving average price is $30.92. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, August 4th. The construction company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.33. Fluor had a negative net margin of 0.10% and a positive return on equity of 15.03%. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the company earned $0.13 EPS. The business’s revenue was up 19.4% on a year-over-year basis. On average, sell-side analysts predict that Fluor Co. will post 2.13 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FLR shares. Robert W. Baird boosted their price target on Fluor from $40.00 to $43.00 in a research note on Monday, August 7th. Citigroup upped their price target on shares of Fluor from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. TheStreet upgraded shares of Fluor from a “c” rating to a “b” rating in a research note on Friday, August 11th. Credit Suisse Group upped their target price on Fluor from $32.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Finally, StockNews.com initiated coverage on Fluor in a research report on Thursday, August 17th. They set a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.14.

About Fluor

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. It operates through four segments: Energy Solutions, Urban Solutions, Mission Solutions, and Other. 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.