HighTower Advisors LLC Trims Position in Fluor Corporation $FLR

HighTower Advisors LLC lowered its holdings in Fluor Corporation (NYSE:FLR) by 48.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,103 shares of the construction company’s stock after selling 38,241 shares during the period. HighTower Advisors LLC’s holdings in Fluor were worth $1,687,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Fluor by 6.6% during the third quarter. Farther Finance Advisors LLC now owns 3,591 shares of the construction company’s stock worth $151,000 after acquiring an additional 223 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after purchasing an additional 248 shares in the last quarter. Brighton Jones LLC raised its holdings in Fluor by 3.1% in the third quarter. Brighton Jones LLC now owns 9,060 shares of the construction company’s stock valued at $381,000 after buying an additional 273 shares during the period. Truist Financial Corp lifted its position in Fluor by 5.7% during the third quarter. Truist Financial Corp now owns 5,361 shares of the construction company’s stock valued at $226,000 after buying an additional 288 shares in the last quarter. Finally, Profund Advisors LLC grew its stake in Fluor by 5.6% during the third quarter. Profund Advisors LLC now owns 6,642 shares of the construction company’s stock worth $279,000 after buying an additional 354 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on FLR shares. Citigroup raised their target price on shares of Fluor from $57.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Zacks Research raised Fluor from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Weiss Ratings downgraded Fluor from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, February 17th. Truist Financial raised their target price on Fluor from $56.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, Robert W. Baird upped their price target on Fluor from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

Fluor Price Performance

FLR stock opened at $52.27 on Monday. The stock’s 50 day moving average is $45.63 and its two-hundred day moving average is $44.31. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $57.50. The company has a market capitalization of $7.66 billion, a PE ratio of -67.02, a P/E/G ratio of 1.33 and a beta of 1.35. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.33.

Fluor (NYSE:FLR) last released its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.27 billion. Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 EPS. Analysts predict that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fluor news, insider Kevin B. Hammonds sold 2,988 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $52.61, for a total transaction of $157,198.68. Following the sale, the insider owned 16,273 shares in the company, valued at $856,122.53. This represents a 15.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Tracey H. Cook sold 2,589 shares of Fluor stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $53.22, for a total value of $137,786.58. Following the completion of the transaction, the insider owned 10,731 shares of the company’s stock, valued at approximately $571,103.82. The trade was a 19.44% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 22,110 shares of company stock worth $1,168,920. Company insiders own 1.70% of the company’s stock.

Fluor Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.