Mutual of America Capital Management LLC Trims Stock Holdings in Fluor Co. (NYSE:FLR)

Mutual of America Capital Management LLC lowered its position in shares of Fluor Co. (NYSE:FLR) by 5.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 92,574 shares of the construction company’s stock after selling 5,441 shares during the period. Mutual of America Capital Management LLC’s holdings in Fluor were worth $4,417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc boosted its stake in Fluor by 3.7% during the third quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock worth $235,000 after acquiring an additional 176 shares in the last quarter. Seelaus Asset Management LLC raised its stake in Fluor by 3.7% during the third quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock valued at $307,000 after buying an additional 230 shares during the last quarter. ClariVest Asset Management LLC boosted its holdings in Fluor by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock worth $3,379,000 after acquiring an additional 233 shares in the last quarter. Xponance Inc. grew its stake in shares of Fluor by 1.2% in the second quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock worth $1,006,000 after acquiring an additional 265 shares during the last quarter. Finally, JGP Wealth Management LLC increased its holdings in shares of Fluor by 5.6% during the third quarter. JGP Wealth Management LLC now owns 5,313 shares of the construction company’s stock valued at $253,000 after acquiring an additional 283 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Price Performance

Shares of NYSE:FLR opened at $54.72 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $9.39 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 4.12 and a beta of 1.90. The firm’s 50 day moving average price is $50.85 and its 200-day moving average price is $47.09. Fluor Co. has a twelve month low of $35.04 and a twelve month high of $60.10.

Fluor (NYSE:FLR) last issued 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). The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.02 EPS. Equities research analysts expect that Fluor Co. will post 2.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FLR shares. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. UBS Group raised their price target on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird lifted their target price on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. DA Davidson lifted their price objective on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Truist Financial raised their price target on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.29.

Insiders Place Their Bets

In related news, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $50.01, for a total transaction of $200,640.12. Following the completion of the transaction, the chief financial officer now directly owns 53,527 shares in the company, valued at approximately $2,676,885.27. The trade was a 6.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 31,261 shares of company stock worth $1,528,574 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.

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.