Victory Capital Management Inc. Cuts Stock Holdings in Fluor Co. (NYSE:FLR)

Victory Capital Management Inc. decreased its holdings in Fluor Co. (NYSE:FLR - Free Report) by 66.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,759 shares of the construction company's stock after selling 642,916 shares during the quarter. Victory Capital Management Inc. owned about 0.19% of Fluor worth $16,362,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its stake in Fluor by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company's stock worth $235,000 after acquiring an additional 176 shares during the last quarter. GAMMA Investing LLC raised its stake in Fluor by 10.3% in the 4th quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company's stock worth $112,000 after acquiring an additional 213 shares during the last quarter. Seelaus Asset Management LLC raised its stake in Fluor by 3.7% in the 3rd quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company's stock worth $307,000 after acquiring an additional 230 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Fluor by 2.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company's stock valued at $533,000 after buying an additional 241 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of Fluor by 4.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company's stock valued at $286,000 after buying an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

FLR has been the subject of a number of recent research reports. Citigroup reduced their price objective on Fluor from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Truist Financial reduced their price objective on Fluor from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Robert W. Baird reduced their price objective on Fluor from $58.00 to $46.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. StockNews.com lowered Fluor from a "buy" rating to a "hold" rating in a research note on Sunday, March 9th. Finally, DA Davidson cut their price target on Fluor from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $54.71.

Fluor Price Performance

Shares of Fluor stock traded up $1.90 on Friday, hitting $36.84. 2,861,363 shares of the company were exchanged, compared to its average volume of 3,304,636. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 3.02, a price-to-earnings-growth ratio of 1.36 and a beta of 1.73. The company has a 50-day moving average price of $44.41 and a 200 day moving average price of $48.75. Fluor Co. has a 1-year low of $34.01 and a 1-year high of $60.10. 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 released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.30). The firm had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. As a group, sell-side analysts predict that Fluor Co. will post 2.5 earnings per share for the current fiscal year.

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.