Retirement Systems of Alabama Sells 3,217 Shares of Fluor Co. (NYSE:FLR)

Retirement Systems of Alabama trimmed its stake in shares of Fluor Co. (NYSE:FLR) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,074 shares of the construction company’s stock after selling 3,217 shares during the quarter. Retirement Systems of Alabama’s holdings in Fluor were worth $9,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Hood River Capital Management LLC bought a new position in shares of Fluor in the second quarter worth approximately $47,559,000. Westfield Capital Management Co. LP bought a new stake in Fluor during the 3rd quarter valued at $39,289,000. Rubric Capital Management LP boosted its position in Fluor by 23.6% during the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after buying an additional 614,521 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Fluor by 27.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after acquiring an additional 457,220 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of 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 during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on FLR shares. UBS Group increased their target price on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Truist Financial increased their price objective on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. KeyCorp boosted their target price on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Finally, DA Davidson boosted their price objective on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.29.

Fluor Price Performance

Shares of FLR stock opened at $54.64 on Tuesday. 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 $9.37 billion, a price-to-earnings ratio of 36.43, a PEG ratio of 4.36 and a beta of 1.89. The business’s fifty day moving average is $53.62 and its 200 day moving average is $49.07. 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 (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.25). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $1.02 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. Research analysts expect that Fluor Co. will post 2.62 EPS for the current fiscal year.

Insider Activity

In related news, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the transaction, the insider now owns 147,045 shares of the company’s stock, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the sale, the chief financial officer now directly owns 53,527 shares in the company, valued at $2,676,885.27. This trade represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,942 shares of company stock worth $4,793,206. Insiders own 1.70% of the company’s stock.

Fluor 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.