Retirement Systems of Alabama Sells 7,496 Shares of Fluor Corporation $FLR

Retirement Systems of Alabama decreased its stake in Fluor Corporation (NYSE:FLR) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 201,258 shares of the construction company’s stock after selling 7,496 shares during the period. Retirement Systems of Alabama’s holdings in Fluor were worth $10,318,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Fifth Third Bancorp raised its position in Fluor by 11.2% in the second quarter. Fifth Third Bancorp now owns 2,062 shares of the construction company’s stock worth $106,000 after acquiring an additional 208 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Fluor by 8.8% in the second quarter. Farther Finance Advisors LLC now owns 3,368 shares of the construction company’s stock worth $173,000 after purchasing an additional 271 shares in the last quarter. Xponance Inc. increased its stake in shares of Fluor by 1.5% in the first quarter. Xponance Inc. now owns 24,597 shares of the construction company’s stock worth $881,000 after purchasing an additional 357 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Fluor by 3.3% in the first quarter. Nisa Investment Advisors LLC now owns 11,167 shares of the construction company’s stock worth $400,000 after purchasing an additional 359 shares in the last quarter. Finally, Callan Family Office LLC increased its stake in shares of Fluor by 4.4% in the first quarter. Callan Family Office LLC now owns 9,185 shares of the construction company’s stock worth $329,000 after purchasing an additional 389 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

Fluor stock opened at $48.78 on Monday. The firm’s 50 day simple moving average is $44.11 and its 200 day simple moving average is $44.42. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $7.89 billion, a PE ratio of 2.01 and a beta of 1.48. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $60.10.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.16). Fluor had a return on equity of 9.27% and a net margin of 25.35%.The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.55 billion. During the same period in the prior year, the firm earned $0.85 EPS. Fluor’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, analysts expect that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FLR. Truist Financial reduced their target price on shares of Fluor from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Citigroup reduced their target price on shares of Fluor from $71.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Wall Street Zen downgraded shares of Fluor from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. KeyCorp downgraded shares of Fluor from an “overweight” rating to a “sector weight” rating and set a $41.00 target price for the company. in a research note on Tuesday, July 15th. Finally, Zacks Research raised shares of Fluor from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Fluor has a consensus rating of “Hold” and an average target price of $49.43.

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.