Charles Schwab Investment Management Inc. Sells 12,914 Shares of Fluor Corporation (NYSE:FLR)

Charles Schwab Investment Management Inc. lessened its position in Fluor Corporation (NYSE:FLR) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,089,101 shares of the construction company’s stock after selling 12,914 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.27% of Fluor worth $74,832,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in shares of Fluor by 196.2% in the 4th quarter. Sterling Capital Management LLC now owns 616 shares of the construction company’s stock worth $30,000 after acquiring an additional 408 shares during the last quarter. Hurley Capital LLC bought a new stake in shares of Fluor in the 1st quarter worth about $29,000. Strategic Investment Solutions Inc. IL increased its stake in Fluor by 800.0% in the 1st quarter. Strategic Investment Solutions Inc. IL now owns 900 shares of the construction company’s stock worth $32,000 after buying an additional 800 shares during the period. SBI Securities Co. Ltd. increased its stake in Fluor by 222.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company’s stock worth $39,000 after buying an additional 760 shares during the period. Finally, Versant Capital Management Inc increased its stake in Fluor by 121.5% in the 1st quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company’s stock worth $43,000 after buying an additional 666 shares during the period. Institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FLR. Citigroup reduced their price target on shares of Fluor from $71.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. UBS Group reduced their price target on shares of Fluor from $60.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of Fluor from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. KeyCorp downgraded shares of Fluor from an “overweight” rating to a “sector weight” rating and set a $41.00 price target on the stock. in a research note on Tuesday, July 15th. Finally, Robert W. Baird reduced their price target on shares of Fluor from $55.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, August 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $49.57.

Fluor Stock Down 1.9%

Shares of Fluor stock opened at $42.64 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.62 and a quick ratio of 1.62. Fluor Corporation has a 1 year low of $29.20 and a 1 year high of $60.10. The firm’s 50-day moving average is $49.92 and its two-hundred day moving average is $42.42. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 1.76 and a beta of 1.43.

Fluor (NYSE:FLR) last issued its earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.16). Fluor had a return on equity of 9.27% and a net margin of 25.35%. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.55 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. As a group, research analysts expect that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at Fluor

In other news, insider Alvin C. Collins III sold 18,920 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,924,919.69. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David E. Constable sold 38,600 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total transaction of $2,011,446.00. Following the completion of the sale, the chairman owned 792,027 shares in the company, valued at $41,272,526.97. This represents 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 worth $4,870,182 over the last 90 days. Company insiders own 1.70% of the company’s stock.

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.