New York State Common Retirement Fund Trims Position in Fluor Corporation (NYSE:FLR)

New York State Common Retirement Fund lessened its position in shares of Fluor Corporation (NYSE:FLR) by 33.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,888 shares of the construction company’s stock after selling 26,350 shares during the quarter. New York State Common Retirement Fund’s holdings in Fluor were worth $1,894,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sterling Capital Management LLC grew its holdings in 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 purchasing an additional 408 shares during the period. Versant Capital Management Inc grew its holdings in 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 purchasing an additional 666 shares during the period. Golden State Wealth Management LLC grew its holdings in 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 purchasing an additional 701 shares during the period. GeoWealth Management LLC bought a new stake in Fluor during the fourth quarter valued at about $128,000. Finally, Parallel Advisors LLC grew its holdings in Fluor by 77.8% during the first quarter. Parallel Advisors LLC now owns 2,813 shares of the construction company’s stock valued at $101,000 after purchasing an additional 1,231 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Stock Up 2.9%

NYSE FLR opened at $55.59 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.74 and a current ratio of 1.74. The company has a market capitalization of $9.15 billion, a P/E ratio of 5.33, a P/E/G ratio of 2.59 and a beta of 1.34. Fluor Corporation has a one year low of $29.20 and a one year high of $60.10. The stock has a 50 day moving average price of $47.40 and a 200-day moving average price of $42.65.

Fluor (NYSE:FLR) last posted its earnings results on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.23. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.27 billion. Fluor had a return on equity of 14.59% and a net margin of 11.13%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. As a group, equities analysts predict that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Insider Activity at Fluor

In other news, insider Alvin C. Collins III sold 18,920 shares of the firm’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 completion of the sale, the insider directly owned 64,383 shares of the company’s stock, valued at $2,924,919.69. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David E. Constable sold 38,600 shares of the firm’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total value of $2,011,446.00. Following the completion of the sale, the chairman directly owned 792,027 shares of the company’s stock, valued at $41,272,526.97. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,320 shares of company stock valued at $4,870,182 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on FLR shares. Citigroup cut their price target 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 Fluor from an “overweight” rating to a “sector weight” rating and set a $41.00 price target on the stock. in a report on Tuesday, July 15th. Truist Financial upped their price objective on Fluor from $47.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, July 3rd. Robert W. Baird upped their price objective on Fluor from $41.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, July 11th. Finally, Wall Street Zen lowered Fluor from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Fluor has a consensus rating of “Hold” and an average target price of $50.86.

About Fluor

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.