New York State Teachers Retirement System Sells 29,936 Shares of Fluor Corporation $FLR

New York State Teachers Retirement System trimmed its holdings in shares of Fluor Corporation (NYSE:FLR) by 16.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 157,591 shares of the construction company’s stock after selling 29,936 shares during the period. New York State Teachers Retirement System’s holdings in Fluor were worth $7,352,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FLR. Global Retirement Partners LLC boosted its stake in Fluor by 91.7% in the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock worth $26,000 after purchasing an additional 311 shares during the period. Assetmark Inc. raised its position in shares of Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after buying an additional 483 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Fluor in the 4th quarter valued at about $27,000. Larson Financial Group LLC grew its position in Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after acquiring an additional 734 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Fluor during the fourth quarter worth approximately $35,000. Institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on FLR. Robert W. Baird upped their price objective on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Citigroup cut their target price on Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Weiss Ratings upgraded Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Zacks Research lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Truist Financial boosted their price objective on shares of Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Fluor currently has an average rating of “Moderate Buy” and an average price target of $54.50.

Fluor Trading Down 5.8%

NYSE FLR traded down $3.01 during trading on Tuesday, hitting $48.45. The stock had a trading volume of 340,214 shares, compared to its average volume of 2,754,538. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 1.57 and a beta of 1.23. Fluor Corporation has a one year low of $37.62 and a one year high of $57.50. The stock has a 50 day simple moving average of $49.15 and a 200 day simple moving average of $47.13.

Fluor (NYSE:FLR) last released its earnings results on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the company posted $0.73 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Sell-side analysts predict that Fluor Corporation will post 2.63 earnings per share for the current year.

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.