Cornerstone Wealth Management LLC Makes New Investment in Fluor Co. (NYSE:FLR)

Cornerstone Wealth Management LLC purchased a new stake in Fluor Co. (NYSE:FLR) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,811 shares of the construction company’s stock, valued at approximately $484,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aequim Alternative Investments LP lifted its position in shares of Fluor by 6.0% during the third quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock worth $35,437,000 after purchasing an additional 41,800 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Fluor by 139.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock worth $819,000 after buying an additional 9,992 shares in the last quarter. AQR Capital Management LLC boosted its position in Fluor by 63.8% in the 2nd quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock valued at $24,771,000 after buying an additional 222,070 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Fluor by 27.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after acquiring an additional 457,220 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its stake in shares of Fluor by 67.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 49,152 shares of the construction company’s stock valued at $2,345,000 after acquiring an additional 19,836 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

FLR has been the subject of several recent research reports. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. UBS Group increased their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. DA Davidson lifted their target price on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird reissued a “neutral” rating and issued a $58.00 price target (up previously from $54.00) on shares of Fluor in a research note on Wednesday, December 18th. Finally, KeyCorp lifted their price objective on Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.14.

Insider Activity at Fluor

In other news, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the sale, the insider now directly owns 147,045 shares in the company, valued at $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $56.39, for a total value of $433,131.59. Following the transaction, the insider now owns 137,974 shares of the company’s stock, valued at approximately $7,780,353.86. The trade was a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Fluor Stock Down 1.3 %

NYSE:FLR opened at $54.58 on Friday. Fluor Co. has a 1 year low of $35.04 and a 1 year high of $60.10. The stock has a 50-day moving average price of $52.46 and a two-hundred day moving average price of $50.33. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 3.83 and a beta of 1.91. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48.

Fluor (NYSE:FLR) last posted its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the company posted $1.02 earnings per share. Fluor’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts expect that Fluor Co. will post 2.62 earnings per share for the current year.

Fluor Company 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.