Victory Capital Management Inc. Has $46.50 Million Stock Position in Fluor Co. (NYSE:FLR)

Victory Capital Management Inc. lowered its position in shares of Fluor Co. (NYSE:FLR) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 974,675 shares of the construction company’s stock after selling 97,298 shares during the quarter. Victory Capital Management Inc.’s holdings in Fluor were worth $46,502,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in shares of Fluor by 20.3% in the 1st quarter. Janus Henderson Group PLC now owns 78,374 shares of the construction company’s stock valued at $3,311,000 after buying an additional 13,203 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Fluor by 230.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 59,403 shares of the construction company’s stock valued at $2,587,000 after buying an additional 41,428 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of 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. Russell Investments Group Ltd. boosted its holdings in shares of Fluor by 19.8% in the 1st quarter. Russell Investments Group Ltd. now owns 226,306 shares of the construction company’s stock valued at $9,568,000 after buying an additional 37,435 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Fluor by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 17,112,278 shares of the construction company’s stock valued at $723,507,000 after buying an additional 51,322 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Stock Up 2.2 %

FLR stock opened at $51.93 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 34.62, a PEG ratio of 3.93 and a beta of 1.90. The business’s fifty day moving average price is $50.14 and its two-hundred day moving average price is $46.73. Fluor Co. has a fifty-two week low of $35.04 and a fifty-two week high of $60.10.

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

Insider Buying and Selling

In related news, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $47.57, for a total value of $729,485.95. Following the transaction, the chief financial officer now owns 57,834 shares in the company, valued at approximately $2,751,163.38. This trade represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 31,261 shares of company stock worth $1,528,574. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

FLR has been the subject of several recent analyst reports. DA Davidson increased their price objective on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday. Robert W. Baird raised their price target on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 5th. KeyCorp raised their price target on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. Finally, Truist Financial raised their price target on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Fluor has a consensus rating of “Moderate Buy” and an average price target of $60.29.

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.