Fluor Co. (NYSE:FLR) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC reduced its position in Fluor Co. (NYSE:FLR) by 17.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,100 shares of the construction company’s stock after selling 2,375 shares during the quarter. Legato Capital Management LLC’s holdings in Fluor were worth $483,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FLR. GAMMA Investing LLC purchased a new position in Fluor in the fourth quarter worth approximately $27,000. Rise Advisors LLC acquired a new position in shares of Fluor during the first quarter worth $28,000. ORG Partners LLC purchased a new position in Fluor in the second quarter valued at $34,000. Spire Wealth Management raised its stake in Fluor by 59.2% in the fourth quarter. Spire Wealth Management now owns 1,008 shares of the construction company’s stock valued at $37,000 after buying an additional 375 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after buying an additional 930 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fluor

In related news, CAO John C. Regan sold 13,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total value of $628,030.00. Following the sale, the chief accounting officer now directly owns 55,965 shares of the company’s stock, valued at $2,703,669.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FLR has been the topic of a number of research reports. KeyCorp upgraded Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target on the stock in a research report on Wednesday, July 17th. UBS Group raised their price objective on shares of Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Barclays boosted their target price on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. DA Davidson increased their price target on shares of Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Citigroup lifted their price objective on Fluor from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Fluor Stock Up 0.7 %

Shares of FLR opened at $49.55 on Wednesday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.56. The firm has a market cap of $8.48 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.55 and a beta of 1.99. The company’s fifty day moving average is $46.89 and its two-hundred day moving average is $42.67. Fluor Co. has a fifty-two week low of $32.31 and a fifty-two week high of $51.64.

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