Incline Global Management LLC Sells 34,893 Shares of Fluor Corporation $FLR

Incline Global Management LLC reduced its position in shares of Fluor Corporation (NYSE:FLR) by 9.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 317,349 shares of the construction company’s stock after selling 34,893 shares during the quarter. Fluor accounts for about 4.3% of Incline Global Management LLC’s investment portfolio, making the stock its 13th biggest holding. Incline Global Management LLC owned 0.20% of Fluor worth $12,577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Seelaus Asset Management LLC increased its stake in Fluor by 2.9% during the 4th quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company’s stock valued at $348,000 after purchasing an additional 245 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after acquiring an additional 248 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in shares of Fluor by 20.9% during the 3rd quarter. Clearstead Advisors LLC now owns 1,594 shares of the construction company’s stock valued at $67,000 after acquiring an additional 276 shares during the last quarter. Clear Creek Financial Management LLC boosted its holdings in shares of Fluor by 2.7% during the 4th quarter. Clear Creek Financial Management LLC now owns 11,756 shares of the construction company’s stock valued at $466,000 after acquiring an additional 310 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Fluor by 91.7% during the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after acquiring an additional 311 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Performance

FLR opened at $51.83 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.36. Fluor Corporation has a 12-month low of $37.62 and a 12-month high of $57.50. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 1.57 and a beta of 1.25. The company’s 50 day moving average is $48.11 and its 200 day moving average is $46.31.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the firm earned $0.73 EPS. Fluor’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts predict that Fluor Corporation will post 2.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FLR. Truist Financial reaffirmed a “buy” rating and set a $57.00 price target (down from $59.00) on shares of Fluor in a report on Monday, May 11th. Zacks Research downgraded shares of Fluor from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings raised shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup dropped their price target on shares of Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, UBS Group reaffirmed a “buy” rating and set a $57.00 price target on shares of Fluor in a report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

Fluor 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.