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

Retirement Systems of Alabama trimmed its position in shares of Fluor Co. (NYSE:FLR) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 208,074 shares of the construction company’s stock after selling 3,217 shares during the period. Retirement Systems of Alabama owned 0.12% of Fluor worth $9,927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of 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 during the 2nd quarter worth $47,559,000. Westfield Capital Management Co. LP purchased a new stake in Fluor during the third quarter valued at about $39,289,000. Rubric Capital Management LP boosted its position in Fluor by 23.6% during the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock worth $139,992,000 after purchasing an additional 614,521 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Fluor by 27.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after purchasing an additional 457,220 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised 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 purchasing an additional 323,111 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Price Performance

Shares of NYSE FLR opened at $54.64 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average of $53.62 and a 200-day moving average of $49.07. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of 36.43, a PEG ratio of 4.36 and a beta of 1.89. Fluor Co. has a 12 month low of $35.04 and a 12 month high of $60.10.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 20.05% and a net margin of 1.64%. Fluor’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. Sell-side analysts expect that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluor

In other Fluor news, insider Mark E. Fields sold 50,000 shares of the company’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 value of $2,831,500.00. Following the completion of the sale, the insider now owns 147,045 shares of the company’s stock, valued at $8,327,158.35. This represents a 25.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of Fluor stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $56.39, for a total transaction of $433,131.59. Following the transaction, the insider now directly owns 137,974 shares in the company, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,942 shares of company stock worth $4,793,206 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

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

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.