Swiss National Bank Sells 4,600 Shares of Fluor Corporation (NYSE:FLR)

Swiss National Bank trimmed its holdings in shares of Fluor Corporation (NYSE:FLR) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 332,300 shares of the construction company’s stock after selling 4,600 shares during the quarter. Swiss National Bank’s holdings in Fluor were worth $11,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FLR. Sterling Capital Management LLC boosted its stake in shares of Fluor by 196.2% during 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 position in Fluor in the 1st quarter worth $29,000. Strategic Investment Solutions Inc. IL lifted its position in Fluor by 800.0% during the first quarter. Strategic Investment Solutions Inc. IL now owns 900 shares of the construction company’s stock valued at $32,000 after purchasing an additional 800 shares in the last quarter. SBI Securities Co. Ltd. increased its position in Fluor by 222.9% in the first 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 in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Fluor by 121.5% in the first 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. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Stock Down 2.5%

Shares of FLR stock opened at $41.60 on Friday. The company’s fifty day simple moving average is $49.90 and its two-hundred day simple moving average is $42.39. Fluor Corporation has a 52 week low of $29.20 and a 52 week high of $60.10. The stock has a market cap of $6.72 billion, a P/E ratio of 1.71 and a beta of 1.43. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.18.

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

Insiders Place Their Bets

In related news, Chairman David E. Constable sold 40,800 shares of the company’s stock in a transaction on 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 sale, the chairman owned 870,627 shares of the company’s stock, valued at $42,660,723. This represents a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction on 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 owned 64,383 shares of the company’s stock, valued at $2,924,919.69. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,320 shares of company stock valued at $4,870,182. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FLR shares. UBS Group reduced their target price on shares of Fluor from $60.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Citigroup reduced their price objective on shares of Fluor from $71.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Robert W. Baird lowered 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. Wall Street Zen lowered Fluor from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Truist Financial set a $52.00 price objective on Fluor in a research report on Monday, August 4th. One 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’s stock. According to MarketBeat.com, the company 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.