Fluor Co. (NYSE:FLR) Shares Sold by Nierenberg Investment Management Company Inc.

Nierenberg Investment Management Company Inc. trimmed its holdings in Fluor Co. (NYSE:FLR - Free Report) by 71.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 122,555 shares of the construction company's stock after selling 309,503 shares during the period. Fluor accounts for approximately 3.4% of Nierenberg Investment Management Company Inc.'s holdings, making the stock its 7th largest holding. Nierenberg Investment Management Company Inc. owned approximately 0.07% of Fluor worth $6,044,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLR. Clearbridge Investments LLC purchased a new position in shares of Fluor in the 4th quarter worth $25,056,000. Cookson Peirce & Co. Inc. acquired a new stake in Fluor during the fourth quarter worth about $24,849,000. Artemis Investment Management LLP raised its holdings in shares of Fluor by 49.1% in the 4th quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company's stock worth $61,792,000 after purchasing an additional 412,312 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Fluor in the 4th quarter valued at about $13,130,000. Finally, Principal Financial Group Inc. grew its holdings in shares of 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 purchasing an additional 254,904 shares during the period. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Stock Up 0.7 %

NYSE:FLR traded up $0.24 on Friday, reaching $33.31. The stock had a trading volume of 3,873,780 shares, compared to its average volume of 2,147,982. The company has a 50-day moving average of $38.11 and a 200 day moving average of $47.03. 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 stock has a market cap of $5.60 billion, a P/E ratio of 2.73, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. Fluor Co. has a 12-month low of $29.20 and a 12-month high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly 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 business had revenue of $4.26 billion during the quarter, compared to analysts' expectations of $4.42 billion. On average, research analysts predict that Fluor Co. will post 2.5 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on FLR. Citigroup reduced their price target on shares of Fluor from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. KeyCorp cut their target price on shares of Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, April 4th. Barclays set a $40.00 price target on shares of Fluor and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Truist Financial cut their price objective on Fluor from $60.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, DA Davidson decreased their target price on Fluor from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company 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.