Public Employees Retirement System of Ohio Takes Position in Fluor Corporation $FLR

Public Employees Retirement System of Ohio acquired a new position in shares of Fluor Corporation (NYSE:FLR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,246 shares of the construction company’s stock, valued at approximately $2,318,000.

Other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in Fluor during the second quarter valued at about $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Fluor during the 4th quarter worth about $27,000. Ancora Advisors LLC bought a new stake in Fluor during the 2nd quarter valued at approximately $31,000. Larson Financial Group LLC grew its holdings in Fluor by 6,116.7% in the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after buying an additional 734 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Fluor in the 4th quarter worth approximately $35,000. Institutional investors own 88.07% of the company’s stock.

Insider Activity

In related news, insider Pierre Bechelany sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the completion of the transaction, the insider owned 36,064 shares in the company, valued at $1,992,175.36. This trade represents a 12.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.70% of the company’s stock.

Fluor Price Performance

NYSE:FLR opened at $56.15 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. The company has a 50-day moving average of $51.84 and a 200-day moving average of $49.56. Fluor Corporation has a 52 week low of $39.33 and a 52 week high of $58.35. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of -4.57, a PEG ratio of 1.76 and a beta of 1.26.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities research analysts anticipate that Fluor Corporation will post 2.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on FLR shares. Barclays upped their target price on shares of Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Citigroup boosted their price objective on shares of Fluor from $56.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Truist Financial reaffirmed a “buy” rating and set a $71.00 price objective (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Weiss Ratings cut shares of Fluor from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Finally, UBS Group boosted their price target on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.33.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.