Geode Capital Management LLC Sells 11,330 Shares of Fluor Co. (NYSE:FLR)

Geode Capital Management LLC lessened its stake in Fluor Co. (NYSE:FLR) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,990,292 shares of the construction company’s stock after selling 11,330 shares during the period. Geode Capital Management LLC owned about 2.33% of Fluor worth $196,846,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC bought a new stake in shares of Fluor in the 4th quarter worth approximately $484,000. Exchange Traded Concepts LLC boosted its position in shares of Fluor by 291.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock valued at $2,151,000 after acquiring an additional 32,472 shares in the last quarter. Quantbot Technologies LP bought a new stake in Fluor in the fourth quarter valued at about $3,667,000. Aequim Alternative Investments LP raised its position in Fluor by 6.0% in the third quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock worth $35,437,000 after purchasing an additional 41,800 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its stake in Fluor by 49.1% during the fourth quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock worth $61,792,000 after purchasing an additional 412,312 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLR has been the topic of several analyst reports. DA Davidson lowered their price objective on Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Barclays set a $40.00 price objective on Fluor and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Robert W. Baird lowered their target price on shares of Fluor from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday. StockNews.com raised shares of Fluor from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Finally, Truist Financial decreased their price objective on shares of Fluor from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Fluor currently has an average rating of “Moderate Buy” and a consensus price target of $51.57.

Fluor Trading Down 8.7 %

Shares of NYSE FLR opened at $31.02 on Monday. Fluor Co. has a 1-year low of $29.62 and a 1-year high of $60.10. The company has a 50-day moving average of $40.18 and a two-hundred day moving average of $47.73. The company has a market cap of $5.21 billion, a PE ratio of 2.55, a P/E/G ratio of 1.36 and a beta of 1.66. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.30). The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.42 billion. Fluor had a return on equity of 15.14% and a net margin of 13.14%. As a group, equities analysts expect that Fluor Co. will post 2.5 earnings per share for the current fiscal year.

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.