Cornerstone Wealth Management LLC Buys 1,461 Shares of Fluor Corporation (NYSE:FLR)

Cornerstone Wealth Management LLC grew its holdings in shares of Fluor Corporation (NYSE:FLR) by 14.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,272 shares of the construction company’s stock after acquiring an additional 1,461 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Fluor were worth $404,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FLR. CIBC Asset Management Inc boosted its position in shares of Fluor by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company’s stock valued at $256,000 after acquiring an additional 264 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Fluor by 826.2% during the 4th quarter. Venturi Wealth Management LLC now owns 1,556 shares of the construction company’s stock valued at $77,000 after acquiring an additional 1,388 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Fluor by 779.1% during the 4th quarter. Global Retirement Partners LLC now owns 2,233 shares of the construction company’s stock valued at $110,000 after acquiring an additional 1,979 shares during the last quarter. Ieq Capital LLC bought a new stake in shares of Fluor during the 4th quarter valued at about $353,000. Finally, Paradigm Asset Management Co. LLC bought a new stake in Fluor in the 4th quarter worth approximately $192,000. Institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. KeyCorp dropped their target price on Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, April 4th. Truist Financial boosted their target price on Fluor from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Barclays set a $40.00 target price on Fluor and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. UBS Group dropped their target price on Fluor from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, Robert W. Baird set a $41.00 target price on Fluor in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.43.

Insider Activity at Fluor

In related news, Chairman David E. Constable sold 40,800 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total value of $1,999,200.00. Following the sale, the chairman now directly owns 870,627 shares of the company’s stock, valued at $42,660,723. This represents a 4.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alvin C. Collins III sold 18,920 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the sale, the insider now directly owns 64,383 shares in the company, valued at approximately $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Fluor Price Performance

Shares of Fluor stock opened at $49.55 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.74 and a quick ratio of 1.74. The business’s 50 day simple moving average is $39.84 and its two-hundred day simple moving average is $42.73. The stock has a market capitalization of $8.16 billion, a P/E ratio of 4.75, a price-to-earnings-growth ratio of 2.40 and a beta of 1.30. Fluor Corporation has a one year low of $29.20 and a one year high of $60.10.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.23. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.27 billion. Fluor had a return on equity of 14.59% and a net margin of 11.13%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. Analysts forecast that Fluor Corporation will post 2.5 EPS for the current 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.