Wellington Management Group LLP Sells 20,237,107 Shares of Fluor Co. (NYSE:FLR)

Wellington Management Group LLP cut its position in shares of Fluor Co. (NYSE:FLR) by 65.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,509,451 shares of the construction company’s stock after selling 20,237,107 shares during the period. Wellington Management Group LLP owned about 6.25% of Fluor worth $518,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in shares of Fluor by 2,509.5% in the 4th quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock valued at $27,000 after buying an additional 527 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Fluor in the fourth quarter worth about $33,000. Smartleaf Asset Management LLC lifted its stake in Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock worth $47,000 after purchasing an additional 287 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Fluor in the 4th quarter valued at approximately $57,000. Finally, Quarry LP raised its holdings in shares of Fluor by 244.7% in the 3rd quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after buying an additional 942 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Fluor Price Performance

Shares of FLR stock opened at $35.82 on Tuesday. 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 firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 2.94, a PEG ratio of 1.36 and a beta of 1.73. The firm’s 50 day moving average is $41.76 and its 200-day moving average is $48.05. Fluor Co. has a 1 year low of $34.01 and a 1 year high of $60.10.

Fluor (NYSE:FLR) last released its earnings results on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.30). The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. Sell-side analysts forecast that Fluor Co. will post 2.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Truist Financial decreased their price target on Fluor from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Citigroup lowered their target price on shares of Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. StockNews.com raised shares of Fluor from a “hold” rating to a “buy” rating in a report on Tuesday, March 25th. Barclays set a $40.00 price objective on shares of Fluor and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Finally, Robert W. Baird cut their target price on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.71.

About Fluor

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.