LPL Financial LLC Sells 14,304 Shares of Fluor Corporation (NYSE:FLR)

LPL Financial LLC reduced its position in Fluor Corporation (NYSE:FLR) by 12.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,348 shares of the construction company’s stock after selling 14,304 shares during the quarter. LPL Financial LLC’s holdings in Fluor were worth $3,738,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System boosted its stake in shares of Fluor by 10.7% in the 1st quarter. New York State Teachers Retirement System now owns 192,218 shares of the construction company’s stock valued at $6,885,000 after purchasing an additional 18,603 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in Fluor by 104.6% during the first quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company’s stock worth $49,000 after acquiring an additional 701 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Fluor by 59.6% during the first quarter. Vontobel Holding Ltd. now owns 18,004 shares of the construction company’s stock worth $645,000 after acquiring an additional 6,720 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Fluor by 28.6% during the first quarter. Janney Montgomery Scott LLC now owns 111,729 shares of the construction company’s stock worth $4,002,000 after acquiring an additional 24,848 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Fluor by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 20,099 shares of the construction company’s stock worth $719,000 after acquiring an additional 545 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Fluor Stock Up 0.6%

Fluor stock opened at $41.79 on Friday. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $60.10. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 1.72 and a beta of 1.43. The firm’s fifty day moving average price is $49.84 and its two-hundred day moving average price is $42.36. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.18.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, August 1st. The construction company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.16). Fluor had a net margin of 25.35% and a return on equity of 9.27%. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.55 billion. During the same period last year, the business posted $0.85 earnings per share. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. On average, equities research analysts predict that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at Fluor

In related 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 transaction of $859,535.60. Following the transaction, the insider directly owned 64,383 shares of the company’s stock, valued at $2,924,919.69. This trade represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David E. Constable sold 40,800 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $49.00, for a total transaction of $1,999,200.00. Following the transaction, the chairman directly owned 870,627 shares in the company, valued at $42,660,723. The trade was a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 98,320 shares of company stock worth $4,870,182 over the last three months. 1.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup cut their target price 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. 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 note on Tuesday, July 15th. UBS Group cut their target price 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. Robert W. Baird cut their target price 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. Finally, Truist Financial set a $52.00 price objective on shares of Fluor in a research note on Monday, August 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.57.

Fluor Company 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.