Victory Capital Management Inc. Sells 67,916 Shares of Fluor Co. (NYSE:FLR)

Victory Capital Management Inc. cut its stake in Fluor Co. (NYSE:FLR) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,907,408 shares of the construction company’s stock after selling 67,916 shares during the quarter. Victory Capital Management Inc. owned 1.12% of Fluor worth $74,713,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Fluor by 3,488.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 609,400 shares of the construction company’s stock worth $22,365,000 after purchasing an additional 592,418 shares during the period. Nomura Holdings Inc. bought a new position in Fluor during the third quarter worth about $12,724,000. Jacobs Levy Equity Management Inc. grew its stake in Fluor by 82.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 608,786 shares of the construction company’s stock valued at $22,342,000 after acquiring an additional 274,264 shares during the period. Wellington Management Group LLP raised its position in shares of Fluor by 1.4% during the third quarter. Wellington Management Group LLP now owns 17,807,780 shares of the construction company’s stock worth $653,546,000 after purchasing an additional 243,371 shares during the period. Finally, Appian Way Asset Management LP bought a new position in shares of Fluor during the 3rd quarter valued at about $7,547,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on FLR. TheStreet downgraded shares of Fluor from a “b-” rating to a “c” rating in a report on Wednesday, February 21st. Truist Financial reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Fluor in a research report on Monday, March 25th. KeyCorp assumed coverage on Fluor in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Finally, Citigroup boosted their price target on Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $43.17.

Fluor Price Performance

NYSE:FLR opened at $38.90 on Friday. Fluor Co. has a 52-week low of $25.69 and a 52-week high of $43.24. The company has a market cap of $6.62 billion, a P/E ratio of 69.46, a P/E/G ratio of 3.27 and a beta of 2.11. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.60 and a current ratio of 1.60. The stock’s 50-day simple moving average is $39.73 and its 200 day simple moving average is $38.40.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Tuesday, February 20th. The construction company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Fluor had a return on equity of 24.25% and a net margin of 0.90%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 EPS. As a group, sell-side analysts forecast that Fluor Co. will post 2.84 EPS for the current fiscal year.

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.