Atlas Wealth LLC Acquires 5,441 Shares of Fluor Corporation (NYSE:FLR)

Atlas Wealth LLC lifted its holdings in Fluor Corporation (NYSE:FLR) by 49.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,429 shares of the construction company’s stock after acquiring an additional 5,441 shares during the period. Atlas Wealth LLC’s holdings in Fluor were worth $588,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Xponance Inc. lifted its holdings in shares of Fluor by 1.5% in the 1st quarter. Xponance Inc. now owns 24,597 shares of the construction company’s stock valued at $881,000 after acquiring an additional 357 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Fluor by 3.3% in the first quarter. Nisa Investment Advisors LLC now owns 11,167 shares of the construction company’s stock worth $400,000 after purchasing an additional 359 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Fluor by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 48,000 shares of the construction company’s stock worth $1,719,000 after purchasing an additional 400 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Fluor by 196.2% in the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company’s stock worth $30,000 after purchasing an additional 408 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in Fluor by 1.2% in the first quarter. State of Michigan Retirement System now owns 41,097 shares of the construction company’s stock worth $1,472,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling at Fluor

In other Fluor news, Chairman David E. Constable sold 40,800 shares of Fluor stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $49.00, for a total value of $1,999,200.00. Following the transaction, the chairman directly owned 870,627 shares of the company’s stock, valued at approximately $42,660,723. The trade was a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alvin C. Collins III sold 18,920 shares of Fluor stock in a transaction on Monday, June 9th. The stock was sold at an average price of $45.43, for a total transaction of $859,535.60. Following the completion of the transaction, the insider directly owned 64,383 shares in the company, valued at $2,924,919.69. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,320 shares of company stock worth $4,870,182 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Fluor Stock Performance

Shares of FLR stock opened at $55.94 on Thursday. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 5.36, a PEG ratio of 2.69 and a beta of 1.34. The company’s 50 day moving average is $49.52 and its 200 day moving average is $42.95. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.30. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $60.10.

Fluor (NYSE:FLR) last issued its quarterly earnings data 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 company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. Fluor had a net margin of 11.13% and a return on equity of 14.59%. Fluor’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. On average, sell-side analysts anticipate that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Fluor from $47.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, July 3rd. UBS Group reaffirmed a “buy” rating and set a $60.00 target price (up from $48.00) on shares of Fluor in a research report on Tuesday, June 24th. Robert W. Baird raised their target price on shares of Fluor from $41.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. KeyCorp lowered shares of Fluor from an “overweight” rating to a “sector weight” rating and set a $41.00 target price on the stock. in a research report on Tuesday, July 15th. Finally, Citigroup reaffirmed a “buy” rating and set a $71.00 target price (up from $47.00) on shares of Fluor in a research report on Monday. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.43.

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.