ProShare Advisors LLC Cuts Position in Fluor Co. (NYSE:FLR)

ProShare Advisors LLC lowered its position in shares of Fluor Co. (NYSE:FLR) by 19.9% in the second quarter, Holdings Channel reports. The firm owned 27,191 shares of the construction company’s stock after selling 6,764 shares during the period. ProShare Advisors LLC’s holdings in Fluor were worth $1,184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Fluor by 18.6% during the fourth quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company’s stock worth $668,278,000 after purchasing an additional 2,670,473 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Fluor during the 4th quarter worth approximately $26,918,000. Rubric Capital Management LP boosted its holdings in Fluor by 23.6% in the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock worth $139,992,000 after acquiring an additional 614,521 shares during the period. Dimensional Fund Advisors LP grew its position in Fluor by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock valued at $110,930,000 after acquiring an additional 323,111 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its stake in shares of Fluor by 2,441.9% during the second quarter. Great Lakes Advisors LLC now owns 282,655 shares of the construction company’s stock valued at $12,310,000 after purchasing an additional 271,535 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FLR shares. Citigroup raised their price target on shares of Fluor from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. KeyCorp raised Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price on the stock in a research report on Wednesday, July 17th. Robert W. Baird increased their price target on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 5th. UBS Group lifted their price objective on Fluor from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Barclays increased their target price on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Insider Activity at Fluor

In other Fluor news, CAO John C. Regan sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total value of $628,030.00. Following the transaction, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at $2,703,669.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $47.57, for a total value of $729,485.95. Following the sale, the chief financial officer now directly owns 57,834 shares of the company’s stock, valued at $2,751,163.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO John C. Regan sold 13,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction of $628,030.00. Following the transaction, the chief accounting officer now directly owns 55,965 shares of the company’s stock, valued at approximately $2,703,669.15. The disclosure for this sale can be found here. Insiders sold a total of 28,630 shares of company stock valued at $1,371,528 in the last quarter. Insiders own 1.70% of the company’s stock.

Fluor Price Performance

Shares of FLR opened at $47.89 on Friday. Fluor Co. has a 52 week low of $32.31 and a 52 week high of $51.64. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.02 and a beta of 1.91. The stock has a 50 day moving average of $47.51 and a 200-day moving average of $44.03.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.34 billion. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. As a group, analysts forecast that Fluor Co. will post 2.88 EPS for the current year.

About Fluor

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.