Fluor Co. (NYSE:FLR) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lowered its stake in Fluor Co. (NYSE:FLR) by 91.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,340 shares of the construction company’s stock after selling 77,470 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Fluor were worth $227,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FLR. Millennium Management LLC boosted its holdings in shares of Fluor by 1,236.0% in the fourth quarter. Millennium Management LLC now owns 1,478,219 shares of the construction company’s stock valued at $51,235,000 after acquiring an additional 1,608,347 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Fluor by 453.8% during the 3rd quarter. Alliancebernstein L.P. now owns 1,833,384 shares of the construction company’s stock valued at $45,633,000 after purchasing an additional 1,502,349 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Fluor by 10.9% in the 1st quarter. Wellington Management Group LLP now owns 14,402,594 shares of the construction company’s stock worth $445,184,000 after buying an additional 1,415,178 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Fluor by 245.8% in the first quarter. Renaissance Technologies LLC now owns 1,650,300 shares of the construction company’s stock valued at $51,011,000 after buying an additional 1,173,000 shares during the period. Finally, BlackRock Inc. boosted its stake in Fluor by 3.5% during the first quarter. BlackRock Inc. now owns 16,937,750 shares of the construction company’s stock valued at $485,943,000 after buying an additional 571,316 shares in the last quarter. Institutional investors and hedge funds own 99.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FLR shares. Credit Suisse Group upped their price target on shares of Fluor from $32.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, August 7th. TheStreet upgraded shares of Fluor from a “c” rating to a “b” rating in a research report on Friday, August 11th. Citigroup increased their price objective on Fluor from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Robert W. Baird lifted their target price on Fluor from $40.00 to $43.00 in a report on Monday, August 7th. Finally, StockNews.com assumed coverage on Fluor in a 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’s stock. Based on data from MarketBeat, Fluor currently has an average rating of “Hold” and a consensus target price of $37.14.

Fluor Stock Performance

Shares of FLR stock opened at $35.56 on Monday. The stock’s fifty day simple moving average is $33.19 and its 200-day simple moving average is $30.81. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of -88.90 and a beta of 2.25. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.50. Fluor Co. has a 1-year low of $23.37 and a 1-year high of $38.20.

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

Fluor Company Profile

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.