Castleark Management LLC Lowers Position in Fluor Co. (NYSE:FLR)

Castleark Management LLC decreased its position in Fluor Co. (NYSE:FLR) by 20.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,480 shares of the construction company’s stock after selling 28,990 shares during the quarter. Castleark Management LLC owned approximately 0.07% of Fluor worth $5,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FLR. Sterling Capital Management LLC grew its stake in shares of Fluor by 196.2% in the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company’s stock worth $30,000 after acquiring an additional 408 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Fluor in the fourth quarter worth approximately $33,000. Smartleaf Asset Management LLC grew its holdings in shares of Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after buying an additional 287 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Fluor in the 4th quarter worth approximately $57,000. Finally, Venturi Wealth Management LLC lifted its position in Fluor by 826.2% in 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 in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

FLR has been the subject of a number of recent analyst reports. KeyCorp decreased 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. Citigroup decreased their price objective on shares of Fluor from $55.00 to $46.00 and set a “buy” rating for the company in a report on Friday, April 25th. Robert W. Baird set a $41.00 target price on shares of Fluor in a research report on Monday, May 5th. Truist Financial increased their price target on Fluor from $45.00 to $47.00 and gave the company a “buy” rating in a report on Monday, May 5th. Finally, UBS Group dropped their price target on Fluor from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluor currently has an average rating of “Moderate Buy” and a consensus target price of $45.43.

Fluor Price Performance

FLR opened at $37.92 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $35.62 and its 200-day simple moving average is $44.06. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 3.11, a PEG ratio of 1.36 and a beta of 1.24. Fluor Co. has a 12-month low of $29.20 and a 12-month high of $60.10.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.23. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.27 billion. Fluor had a return on equity of 15.14% and a net margin of 13.14%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $0.47 EPS. On average, equities research analysts anticipate that Fluor Co. will post 2.5 earnings per share 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.