Kentucky Retirement Systems Insurance Trust Fund Purchases New Shares in Fluor Co. (NYSE:FLR)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Fluor Co. (NYSE:FLR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,785 shares of the construction company’s stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLR. CWM LLC grew its position in Fluor by 34.9% during the third quarter. CWM LLC now owns 5,414 shares of the construction company’s stock valued at $258,000 after buying an additional 1,400 shares during the period. Creative Planning grew its position in shares of Fluor by 35.5% in the third quarter. Creative Planning now owns 42,001 shares of the construction company’s stock valued at $2,004,000 after purchasing an additional 11,014 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Fluor in the third quarter valued at about $418,000. Bleakley Financial Group LLC acquired a new stake in shares of Fluor in the third quarter valued at about $204,000. Finally, Raymond James & Associates grew its position in shares of Fluor by 9.4% in the third quarter. Raymond James & Associates now owns 96,025 shares of the construction company’s stock valued at $4,581,000 after purchasing an additional 8,232 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Activity

In other news, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the sale, the insider now directly owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas P. D’agostino sold 7,681 shares of the company’s 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 sale, the insider now directly owns 137,974 shares in the company, valued at approximately $7,780,353.86. The trade was a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

FLR has been the topic of several research analyst reports. KeyCorp lifted their target price on shares of Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Truist Financial lowered their price target on shares of Fluor from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday. Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Citigroup lowered their price target on shares of Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Robert W. Baird lowered their price target on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.43.

Fluor Price Performance

Shares of FLR stock opened at $39.58 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The firm’s 50-day moving average is $49.31 and its two-hundred day moving average is $50.14. Fluor Co. has a 12 month low of $35.04 and a 12 month high of $60.10. The company has a market capitalization of $6.79 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 3.06 and a beta of 1.89.

Fluor (NYSE:FLR) last issued its earnings results on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.42 billion. Analysts predict that Fluor Co. will post 2.62 earnings per share for the current year.

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.