Teachers Retirement System of The State of Kentucky Buys 9,000 Shares of Fluor Co. (NYSE:FLR)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Fluor Co. (NYSE:FLR) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,013 shares of the construction company’s stock after acquiring an additional 9,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Fluor were worth $5,539,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Fluor by 7.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 794,174 shares of the construction company’s stock worth $31,108,000 after acquiring an additional 53,398 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Fluor by 18.5% during the fourth quarter. Principal Financial Group Inc. now owns 631,381 shares of the construction company’s stock worth $24,731,000 after acquiring an additional 98,381 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in Fluor by 18.0% during the first quarter. Hennessy Advisors Inc. now owns 810,700 shares of the construction company’s stock worth $34,276,000 after purchasing an additional 123,500 shares during the last quarter. Diversified Trust Co acquired a new position in Fluor during the first quarter worth $1,368,000. Finally, Swiss National Bank boosted its holdings in Fluor by 19.1% during the first quarter. Swiss National Bank now owns 336,400 shares of the construction company’s stock worth $14,223,000 after purchasing an additional 53,900 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

FLR stock traded up $0.03 during trading hours on Friday, reaching $47.50. The stock had a trading volume of 3,197,760 shares, compared to its average volume of 1,709,922. The stock has a market capitalization of $8.13 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 2.55 and a beta of 1.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.67 and a quick ratio of 1.67. The stock has a 50-day simple moving average of $45.31 and a 200 day simple moving average of $41.43. Fluor Co. has a fifty-two week low of $30.73 and a fifty-two week high of $51.64.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Fluor had a net margin of 1.97% and a return on equity of 24.98%. Fluor’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 EPS. Analysts predict that Fluor Co. will post 2.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citigroup increased their target price on shares of Fluor from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Barclays increased their target price on shares of Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Truist Financial increased their target price on shares of Fluor from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Robert W. Baird increased their target price on shares of Fluor from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Finally, KeyCorp upgraded shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target for the company in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Fluor presently has an average rating of “Moderate Buy” and a consensus target price of $48.43.

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.