Formula Growth Ltd. Decreases Stake in Fluor Co. (NYSE:FLR)

Formula Growth Ltd. cut its stake in shares of Fluor Co. (NYSE:FLR - Free Report) by 60.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,545 shares of the construction company's stock after selling 38,786 shares during the period. Formula Growth Ltd.'s holdings in Fluor were worth $1,260,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FLR. Vanguard Group Inc. increased its position in Fluor by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,698,120 shares of the construction company's stock valued at $872,871,000 after acquiring an additional 168,822 shares during the period. Alliancebernstein L.P. increased its holdings in Fluor by 3.6% in the fourth quarter. Alliancebernstein L.P. now owns 3,093,998 shares of the construction company's stock valued at $152,596,000 after purchasing an additional 107,327 shares during the period. Invesco Ltd. raised its position in Fluor by 23.1% during the 4th quarter. Invesco Ltd. now owns 1,345,503 shares of the construction company's stock worth $66,360,000 after purchasing an additional 252,690 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in Fluor by 49.1% during the 4th quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company's stock worth $61,792,000 after buying an additional 412,312 shares during the period. Finally, Hennessy Advisors Inc. grew its position in shares of Fluor by 13.1% in the 4th quarter. Hennessy Advisors Inc. now owns 1,040,600 shares of the construction company's stock valued at $51,322,000 after buying an additional 120,800 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Up 3.2 %

FLR traded up $1.09 during midday trading on Thursday, hitting $35.53. The company had a trading volume of 1,492,735 shares, compared to its average volume of 3,033,447. The stock's 50 day moving average price is $35.96 and its 200 day moving average price is $46.26. Fluor Co. has a 52 week low of $29.20 and a 52 week high of $60.10. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 2.92, a PEG ratio of 1.36 and a beta of 1.66. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FLR shares. DA Davidson cut their price objective on Fluor from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird dropped their price target on shares of Fluor from $46.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Truist Financial decreased their price objective on shares of Fluor from $60.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. StockNews.com upgraded shares of Fluor from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. Finally, UBS Group decreased their price target on Fluor from $57.00 to $49.00 and set a "buy" rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Fluor currently has a consensus rating of "Moderate Buy" and an average price target of $47.43.

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.