Fluor Corporation $FLR Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Fluor Corporation (NYSE:FLR) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 520,005 shares of the construction company’s stock after selling 27,098 shares during the period. Victory Capital Management Inc. owned 0.32% of Fluor worth $21,877,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. DLD Asset Management LP purchased a new position in Fluor during the second quarter worth $1,025,400,000. Rubric Capital Management LP acquired a new stake in shares of Fluor during the second quarter valued at $205,080,000. Sourcerock Group LLC acquired a new stake in shares of Fluor during the second quarter valued at $85,327,000. Ameriprise Financial Inc. increased its position in Fluor by 361.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company’s stock worth $77,289,000 after purchasing an additional 1,180,838 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in Fluor by 90.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,586,492 shares of the construction company’s stock valued at $81,339,000 after purchasing an additional 755,337 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Buying and Selling

In other news, insider Michael E. Alexander sold 3,387 shares of Fluor stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $53.07, for a total value of $179,748.09. Following the transaction, the insider directly owned 68,664 shares of the company’s stock, valued at $3,643,998.48. The trade was a 4.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kevin B. Hammonds sold 2,988 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $52.61, for a total value of $157,198.68. Following the sale, the insider owned 16,273 shares of the company’s stock, valued at $856,122.53. The trade was a 15.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 22,110 shares of company stock worth $1,168,920. Corporate insiders own 1.70% of the company’s stock.

Fluor Trading Up 1.7%

Shares of FLR stock opened at $45.84 on Tuesday. The firm’s 50-day simple moving average is $46.44 and its 200-day simple moving average is $44.57. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.91. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $57.50. The firm has a market cap of $6.72 billion, a P/E ratio of -58.77, a PEG ratio of 1.14 and a beta of 1.35.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 EPS for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. As a group, equities analysts forecast that Fluor Corporation will post 2.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FLR shares. Wall Street Zen raised shares of Fluor from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. DA Davidson upped their price objective on shares of Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Citigroup raised their target price on shares of Fluor from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Zacks Research raised Fluor from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Finally, Robert W. Baird raised their price objective on Fluor from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

About Fluor

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.