New York State Common Retirement Fund Cuts Stake in Fluor Co. (NYSE:FLR)

New York State Common Retirement Fund decreased its holdings in Fluor Co. (NYSE:FLR - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,238 shares of the construction company's stock after selling 6,910 shares during the quarter. New York State Common Retirement Fund's holdings in Fluor were worth $3,908,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FLR. Westfield Capital Management Co. LP purchased a new position in Fluor during the 3rd quarter worth $39,289,000. Charles Schwab Investment Management Inc. raised its position in Fluor by 27.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company's stock worth $100,092,000 after buying an additional 457,220 shares during the last quarter. Artemis Investment Management LLP raised its position 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 last quarter. Principal Financial Group Inc. raised its position 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 buying an additional 254,904 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Fluor during the 3rd quarter worth $9,542,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Insiders Place Their Bets

In other Fluor news, insider Thomas P. D'agostino sold 7,681 shares of the firm's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the sale, the insider now directly owns 137,974 shares of the company's stock, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on FLR shares. Citigroup cut their price objective 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. Truist Financial lowered their price target on shares of Fluor from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird lowered their price target on shares of Fluor from $58.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Baird R W cut shares of Fluor from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Finally, Barclays set a $40.00 price target on shares of Fluor and gave the stock an "equal weight" rating in a research note on Thursday. Three 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.com, Fluor presently has an average rating of "Moderate Buy" and a consensus target price of $54.71.

Fluor Price Performance

NYSE FLR traded down $1.16 during trading hours on Monday, reaching $36.87. The company's stock had a trading volume of 3,479,196 shares, compared to its average volume of 3,262,362. The stock has a market cap of $6.22 billion, a PE ratio of 3.02, a PEG ratio of 1.36 and a beta of 1.89. Fluor Co. has a fifty-two week low of $36.00 and a fifty-two week high of $60.10. The company's 50-day moving average is $46.96 and its two-hundred day moving average is $49.58. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.30). The business 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%. Analysts forecast that Fluor Co. will post 2.5 EPS for the current year.

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.