Tidal Investments LLC Cuts Stock Position in Fluor Co. (NYSE:FLR)

Tidal Investments LLC trimmed its stake in shares of Fluor Co. (NYSE:FLR) by 86.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,279 shares of the construction company’s stock after selling 32,711 shares during the quarter. Tidal Investments LLC’s holdings in Fluor were worth $252,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in Fluor by 6,642.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after buying an additional 930 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Fluor by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,505 shares of the construction company’s stock valued at $1,285,000 after acquiring an additional 2,753 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Fluor by 9.4% during the second quarter. Panagora Asset Management Inc. now owns 395,842 shares of the construction company’s stock worth $17,239,000 after purchasing an additional 33,978 shares in the last quarter. Rothschild Investment LLC acquired a new position in Fluor in the 2nd quarter valued at $811,000. Finally, Picton Mahoney Asset Management lifted its holdings in Fluor by 3.8% in the 2nd quarter. Picton Mahoney Asset Management now owns 63,315 shares of the construction company’s stock valued at $2,758,000 after purchasing an additional 2,290 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Price Performance

FLR stock opened at $50.69 on Thursday. Fluor Co. has a 52-week low of $35.04 and a 52-week high of $60.10. 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 cap of $8.69 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 4.36 and a beta of 1.89. The business has a fifty day moving average of $53.56 and a two-hundred day moving average of $49.37.

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

Insider Transactions at Fluor

In other news, insider Mark E. Fields sold 50,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the sale, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This represents a 25.37 % 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. Also, CFO Joseph L. Brennan sold 11,619 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the transaction, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at approximately $2,107,972.40. The trade was a 21.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,312 shares of company stock worth $4,049,707. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FLR. UBS Group increased their target price 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. KeyCorp raised their target price on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Robert W. Baird restated a “neutral” rating and issued a $58.00 price target (up from $54.00) on shares of Fluor in a research report on Wednesday, December 18th. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Finally, DA Davidson upped their target price on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.86.

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.