Fluor Corporation (NYSE:FLR) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC reduced its position in Fluor Corporation (NYSE:FLR) by 22.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,780 shares of the construction company’s stock after selling 501 shares during the period. GAMMA Investing LLC’s holdings in Fluor were worth $64,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FLR. Alyeska Investment Group L.P. grew its position in shares of Fluor by 329.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company’s stock worth $97,954,000 after acquiring an additional 1,523,647 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Fluor by 10,125.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company’s stock valued at $52,129,000 after buying an additional 1,046,610 shares in the last quarter. Hood River Capital Management LLC boosted its position in shares of Fluor by 58.4% in the 4th quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company’s stock valued at $96,285,000 after purchasing an additional 719,583 shares during the period. Yaupon Capital Management LP acquired a new stake in shares of Fluor during the fourth quarter valued at approximately $26,353,000. Finally, Frontier Capital Management Co. LLC acquired a new stake in shares of Fluor in the fourth quarter worth $25,117,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fluor

In related news, Chairman David E. Constable sold 38,600 shares of the business’s stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $52.11, for a total value of $2,011,446.00. Following the completion of the transaction, the chairman directly owned 792,027 shares in the company, valued at approximately $41,272,526.97. The trade was a 4.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alvin C. Collins III sold 18,920 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $45.43, for a total value of $859,535.60. Following the transaction, 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. Insiders sold 98,320 shares of company stock valued at $4,870,182 in the last ninety days. Insiders own 1.70% of the company’s stock.

Fluor Stock Performance

NYSE FLR opened at $51.25 on Wednesday. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $60.10. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of 4.91, a PEG ratio of 2.51 and a beta of 1.34. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average of $43.91 and a 200-day moving average of $42.42.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.23. The business had revenue of $3.98 billion for 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%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 earnings per share. On average, equities analysts forecast that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on FLR. Robert W. Baird set a $41.00 price objective on shares of Fluor in a research report on Monday, May 5th. Truist Financial raised their target price on Fluor from $47.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, July 3rd. UBS Group restated a “buy” rating and issued a $60.00 price target (up from $48.00) on shares of Fluor in a research report on Tuesday, June 24th. Citigroup reduced their target price on shares of Fluor from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Wall Street Zen lowered Fluor from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.86.

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.