Victory Capital Management Inc. Sells 97,298 Shares of Fluor Co. (NYSE:FLR)

Victory Capital Management Inc. cut its holdings in Fluor Co. (NYSE:FLR - Free Report) by 9.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 974,675 shares of the construction company's stock after selling 97,298 shares during the period. Victory Capital Management Inc. owned approximately 0.57% of Fluor worth $46,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. ORG Partners LLC acquired a new stake in Fluor in the second quarter worth $34,000. GAMMA Investing LLC raised its stake in Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company's stock worth $39,000 after buying an additional 285 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Fluor by 6,642.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company's stock worth $41,000 after acquiring an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Fluor in the second quarter valued at approximately $51,000. Finally, Quest Partners LLC bought a new stake in shares of Fluor during the second quarter valued at approximately $52,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Stock Performance

Shares of Fluor stock traded up $1.12 during trading hours on Friday, hitting $51.92. 3,697,197 shares of the company's stock traded hands, compared to its average volume of 1,696,190. The company has a fifty day simple moving average of $50.14 and a 200-day simple moving average of $46.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 3.93 and a beta of 1.90. Fluor Co. has a 12-month low of $35.04 and a 12-month high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.25). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the firm posted $1.02 EPS. The business's revenue was up 3.3% on a year-over-year basis. Equities research analysts anticipate that Fluor Co. will post 2.62 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. KeyCorp increased their target price on Fluor from $57.00 to $64.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Citigroup raised shares of Fluor from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Truist Financial raised their price target on shares of Fluor from $61.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. DA Davidson increased their price objective on Fluor from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, UBS Group upped their price target on Fluor from $51.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.29.

Insider Buying and Selling at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of Fluor stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $50.01, for a total transaction of $200,640.12. Following the transaction, the chief financial officer now directly owns 53,527 shares of the company's stock, valued at approximately $2,676,885.27. This trade represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 31,261 shares of company stock valued at $1,528,574. Company insiders own 1.70% of the company's stock.

About Fluor

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.