Fluor Co. (NYSE:FLR) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its stake in Fluor Co. (NYSE:FLR – Get Rating) by 9.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,358 shares of the construction company’s stock after selling 9,240 shares during the period. HighTower Advisors LLC’s holdings in Fluor were worth $3,163,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its holdings in shares of Fluor by 453.8% during the third quarter. Alliancebernstein L.P. now owns 1,833,384 shares of the construction company’s stock worth $45,633,000 after purchasing an additional 1,502,349 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Fluor during the first quarter worth $30,868,000. Artemis Investment Management LLP raised its holdings in shares of Fluor by 100.1% during the fourth quarter. Artemis Investment Management LLP now owns 1,314,878 shares of the construction company’s stock worth $45,796,000 after purchasing an additional 657,849 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Fluor by 77.6% during the third quarter. Point72 Asset Management L.P. now owns 1,446,100 shares of the construction company’s stock worth $35,993,000 after purchasing an additional 631,997 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Fluor by 3.5% during the first quarter. BlackRock Inc. now owns 16,937,750 shares of the construction company’s stock worth $485,943,000 after purchasing an additional 571,316 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider James R. Breuer sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $37.81, for a total transaction of $151,240.00. Following the completion of the transaction, the insider now owns 41,742 shares in the company, valued at approximately $1,578,265.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

FLR has been the topic of a number of analyst reports. Robert W. Baird dropped their price objective on shares of Fluor from $43.00 to $40.00 in a report on Monday, May 8th. Credit Suisse Group increased their price objective on shares of Fluor from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, February 22nd. Finally, StockNews.com initiated coverage on shares of Fluor in a report on Thursday. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluor presently has a consensus rating of “Hold” and a consensus target price of $34.86.

Fluor Stock Performance

Shares of FLR opened at $27.78 on Monday. The firm has a 50-day moving average price of $29.15 and a 200 day moving average price of $32.90. The firm has a market capitalization of $3.98 billion, a PE ratio of -75.08, a P/E/G ratio of 0.32 and a beta of 2.27. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.51. Fluor Co. has a 52-week low of $21.67 and a 52-week high of $38.20.

Fluor (NYSE:FLR – Get Rating) last announced its earnings results on Friday, May 5th. The construction company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.53 billion. Fluor had a negative net margin of 0.07% and a positive return on equity of 9.84%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. On average, sell-side analysts anticipate that Fluor Co. will post 1.75 earnings per share for the current fiscal year.

Fluor Profile

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Fluor Corp. operates as a holding company. The firm engages in the provision of engineering, procurement, construction, fabrication and modularization, operations, maintenance and asset integrity, as well as project management services, on a global basis. It operates through the following segments: Energy & Chemicals, Mining & Industrial, Infrastructure & Power, Diversified Services and Government.