GLOBALT Investments LLC GA Has $2.01 Million Position in Fluor Co. (NYSE:FLR)

GLOBALT Investments LLC GA reduced its stake in Fluor Co. (NYSE:FLR) by 3.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 42,048 shares of the construction company’s stock after selling 1,389 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Fluor were worth $2,006,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its position in Fluor by 12.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 45,644 shares of the construction company’s stock valued at $1,930,000 after purchasing an additional 4,910 shares during the period. Kingsview Wealth Management LLC bought a new stake in shares of Fluor during the first quarter worth about $381,000. Vanguard Group Inc. lifted its position in Fluor by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 17,112,278 shares of the construction company’s stock valued at $723,507,000 after acquiring an additional 51,322 shares in the last quarter. Bessemer Group Inc. boosted its stake in Fluor by 7.7% during the 1st quarter. Bessemer Group Inc. now owns 406,586 shares of the construction company’s stock valued at $17,192,000 after purchasing an additional 28,997 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Fluor by 8.8% in the first quarter. Advisors Asset Management Inc. now owns 65,598 shares of the construction company’s stock worth $2,773,000 after purchasing an additional 5,310 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Price Performance

Fluor stock opened at $52.95 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The business’s 50 day simple moving average is $50.32 and its 200 day simple moving average is $46.90. Fluor Co. has a 12 month low of $35.04 and a 12 month high of $60.10. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 4.06 and a beta of 1.90.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.25). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the company posted $1.02 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Fluor Co. will post 2.62 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group upped their price target on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. DA Davidson raised their price target on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird upped their price objective on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Truist Financial boosted their target price on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, KeyCorp lifted their price target on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.29.

Insider Transactions at Fluor

In other news, CFO Joseph L. Brennan sold 11,619 shares of Fluor stock in a transaction on Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the completion of the transaction, the chief financial officer now directly owns 41,908 shares in the company, valued at approximately $2,107,972.40. The trade was a 21.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 31,261 shares of company stock worth $1,528,574 over the last quarter. Corporate 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.