Granite Investment Partners LLC Cuts Stock Holdings in Fluor Co. (NYSE:FLR)

Granite Investment Partners LLC cut its stake in Fluor Co. (NYSE:FLR - Free Report) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 326,384 shares of the construction company's stock after selling 77,897 shares during the period. Granite Investment Partners LLC owned about 0.19% of Fluor worth $16,097,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FLR. Clearbridge Investments LLC bought a new position in Fluor in the fourth quarter worth approximately $25,056,000. Cookson Peirce & Co. Inc. purchased a new position in shares of Fluor during the fourth quarter valued at $24,849,000. Artemis Investment Management LLP raised its holdings in shares of Fluor by 49.1% in the fourth quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company's stock valued at $61,792,000 after acquiring an additional 412,312 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Fluor in the fourth quarter worth about $13,130,000. Finally, Principal Financial Group Inc. grew its holdings in Fluor by 42.1% during the 3rd quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company's stock worth $41,077,000 after acquiring an additional 254,904 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Stock Performance

FLR traded up $0.44 during trading on Friday, reaching $33.99. 1,746,661 shares of the company's stock were exchanged, compared to its average volume of 2,154,936. The stock has a market capitalization of $5.71 billion, a P/E ratio of 2.79, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. Fluor Co. has a 1 year low of $29.20 and a 1 year high of $60.10. The company's fifty day simple moving average is $36.90 and its 200-day simple moving average is $46.66. 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 posted 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). 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%. As a group, research analysts predict that Fluor Co. will post 2.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup lowered their price target on shares of Fluor from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. KeyCorp dropped their target price on Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, April 4th. StockNews.com raised Fluor from a "hold" rating to a "buy" rating in a research report on Thursday. Truist Financial cut their target price on Fluor from $60.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, DA Davidson cut their price objective 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Fluor currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.43.

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.