Fluor Corporation $FLR Stock Holdings Lowered by Towle & Co.

Towle & Co. lessened its position in Fluor Corporation (NYSE:FLR) by 35.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 121,728 shares of the construction company’s stock after selling 66,871 shares during the period. Fluor makes up 2.2% of Towle & Co.’s portfolio, making the stock its 23rd biggest position. Towle & Co. owned approximately 0.09% of Fluor worth $5,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FLR. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Fluor during the fourth quarter valued at $1,350,000. Pacific Heights Asset Management LLC increased its holdings in shares of Fluor by 23.1% during the fourth quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company’s stock valued at $15,852,000 after acquiring an additional 75,000 shares in the last quarter. Mutual Advisors LLC purchased a new position in shares of Fluor in the 4th quarter worth about $863,000. CWM LLC raised its position in shares of Fluor by 68.1% in the 4th quarter. CWM LLC now owns 91,639 shares of the construction company’s stock worth $3,632,000 after purchasing an additional 37,112 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Fluor by 16.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 172,427 shares of the construction company’s stock worth $6,833,000 after purchasing an additional 23,892 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Stock Performance

Shares of NYSE FLR opened at $53.38 on Friday. The firm’s 50-day moving average price is $49.53 and its 200-day moving average price is $48.02. Fluor Corporation has a 52-week low of $37.62 and a 52-week high of $57.50. The company has a market cap of $7.46 billion, a PE ratio of 31.04, a PEG ratio of 1.63 and a beta of 1.23. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the company earned $0.73 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, analysts anticipate that Fluor Corporation will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FLR shares. Zacks Research cut shares of Fluor from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Weiss Ratings upgraded shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Robert W. Baird boosted their price objective on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Truist Financial upped their price objective on Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Citigroup cut their target price on Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fluor currently has a consensus rating of “Hold” and a consensus target price of $57.20.

About Fluor

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.