California Public Employees Retirement System Sells 10,679 Shares of Fluor Co. (NYSE:FLR)

California Public Employees Retirement System cut its position in Fluor Co. (NYSE:FLR - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 280,755 shares of the construction company's stock after selling 10,679 shares during the period. California Public Employees Retirement System owned about 0.16% of Fluor worth $13,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Level Four Advisory Services LLC lifted its position in Fluor by 52.3% during the fourth quarter. Level Four Advisory Services LLC now owns 8,105 shares of the construction company's stock valued at $400,000 after purchasing an additional 2,785 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of Fluor by 13.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 24,549 shares of the construction company's stock worth $1,211,000 after buying an additional 2,825 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of Fluor in the 4th quarter worth approximately $5,228,000. NEOS Investment Management LLC boosted its stake in Fluor by 22.9% in the 4th quarter. NEOS Investment Management LLC now owns 107,800 shares of the construction company's stock worth $5,317,000 after purchasing an additional 20,075 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in Fluor in the 4th quarter worth approximately $2,234,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Trading Down 3.6 %

Shares of NYSE FLR traded down $1.24 during midday trading on Thursday, hitting $33.49. The stock had a trading volume of 355,948 shares, compared to its average volume of 2,122,923. The company's 50-day simple moving average is $38.68 and its 200 day simple moving average is $47.21. The firm has a market cap of $5.63 billion, a P/E ratio of 2.75, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. Fluor Co. has a fifty-two week low of $29.20 and a fifty-two week high of $60.10. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77.

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

Analyst Ratings Changes

Several research firms recently issued reports on FLR. StockNews.com upgraded shares of Fluor from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. DA Davidson reduced their price target on shares of Fluor from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Barclays set a $40.00 target price on shares of Fluor and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. KeyCorp lowered their price objective on shares of Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, April 4th. Finally, Truist Financial lowered their target price on shares of Fluor from $60.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Fluor currently has an average rating of "Moderate Buy" and a consensus price target of $49.43.

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.