California Public Employees Retirement System Reduces Stock Position in Fluor Corporation $FLR

California Public Employees Retirement System lessened its holdings in Fluor Corporation (NYSE:FLR) by 9.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 288,316 shares of the construction company’s stock after selling 29,983 shares during the period. California Public Employees Retirement System’s holdings in Fluor were worth $13,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Global Retirement Partners LLC grew its holdings in shares of Fluor by 91.7% in the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock worth $26,000 after purchasing an additional 311 shares during the last quarter. Assetmark Inc. lifted its holdings in Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after buying an additional 483 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Fluor in the 4th quarter valued at about $27,000. Larson Financial Group LLC grew its stake in Fluor by 6,116.7% in the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after acquiring an additional 734 shares in the last quarter. Finally, Banque Transatlantique SA increased its position in shares of Fluor by 312.5% during the second quarter. Banque Transatlantique SA now owns 825 shares of the construction company’s stock worth $43,000 after acquiring an additional 625 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Fluor Price Performance

NYSE FLR opened at $52.16 on Friday. The stock’s fifty day moving average price is $49.69 and its 200 day moving average price is $48.05. Fluor Corporation has a 1 year low of $37.62 and a 1 year high of $57.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 1.69 and a beta of 1.23.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.52). The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the company earned $0.73 earnings per share. As a group, equities research analysts forecast that Fluor Corporation will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on FLR shares. Truist Financial boosted their price target on Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Citigroup decreased their target price on Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Robert W. Baird increased their price target on Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Zacks Research lowered Fluor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.20.

Fluor Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.