New York State Teachers Retirement System Buys 18,603 Shares of Fluor Corporation (NYSE:FLR)

New York State Teachers Retirement System grew its stake in shares of Fluor Corporation (NYSE:FLR) by 10.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,218 shares of the construction company’s stock after buying an additional 18,603 shares during the period. New York State Teachers Retirement System owned 0.11% of Fluor worth $6,885,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC increased its position in shares of Fluor by 196.2% during the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company’s stock valued at $30,000 after buying an additional 408 shares during the period. Versant Capital Management Inc increased its position in shares of Fluor by 121.5% during the first quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company’s stock valued at $43,000 after buying an additional 666 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after buying an additional 287 shares during the period. Golden State Wealth Management LLC increased its position in shares of Fluor by 104.6% during the first quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company’s stock valued at $49,000 after buying an additional 701 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Fluor during the fourth quarter valued at about $57,000. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Up 2.4%

Shares of FLR opened at $52.72 on Friday. The firm has a market cap of $8.68 billion, a P/E ratio of 5.05, a P/E/G ratio of 2.53 and a beta of 1.34. The stock has a 50 day simple moving average of $43.24 and a two-hundred day simple moving average of $42.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.74 and a quick ratio of 1.74. Fluor Corporation has a 1 year low of $29.20 and a 1 year high of $60.10.

Fluor (NYSE:FLR) last issued its earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.23. The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.27 billion. Fluor had a return on equity of 14.59% and a net margin of 11.13%. Fluor’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. On average, analysts forecast that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FLR has been the topic of several analyst reports. Robert W. Baird set a $41.00 price target on Fluor in a research report on Monday, May 5th. Citigroup cut their price objective on Fluor from $55.00 to $46.00 and set a “buy” rating for the company in a report on Friday, April 25th. KeyCorp cut their price objective on Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, April 4th. Truist Financial boosted their price objective on Fluor from $47.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday. Finally, UBS Group reissued a “buy” rating and set a $60.00 price objective (up previously from $48.00) on shares of Fluor in a report on Tuesday, June 24th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.86.

Insider Buying and Selling

In other news, Chairman David E. Constable sold 40,800 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total transaction of $1,999,200.00. Following the completion of the sale, the chairman owned 870,627 shares of the company’s stock, valued at approximately $42,660,723. This represents a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $45.43, for a total value of $859,535.60. Following the sale, the insider directly owned 64,383 shares of the company’s stock, valued at approximately $2,924,919.69. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

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.