Swiss National Bank Cuts Stock Holdings in Fluor Co. (NYSE:FLR)

Swiss National Bank lowered its stake in shares of Fluor Co. (NYSE:FLR) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 334,300 shares of the construction company’s stock after selling 500 shares during the quarter. Swiss National Bank owned 0.20% of Fluor worth $15,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Thrivent Financial for Lutherans increased its position in shares of Fluor by 0.5% during the third quarter. Thrivent Financial for Lutherans now owns 2,004,775 shares of the construction company’s stock worth $95,648,000 after acquiring an additional 9,789 shares during the period. Natixis Advisors LLC grew its stake in shares of Fluor by 0.7% during the third quarter. Natixis Advisors LLC now owns 64,777 shares of the construction company’s stock worth $3,091,000 after purchasing an additional 442 shares in the last quarter. Seelaus Asset Management LLC grew its stake in shares of Fluor by 3.7% during the third quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock worth $307,000 after purchasing an additional 230 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Fluor by 3.7% during the third quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock worth $235,000 after purchasing an additional 176 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Fluor by 11.2% during the third quarter. KBC Group NV now owns 4,544 shares of the construction company’s stock worth $217,000 after purchasing an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FLR. DA Davidson boosted their target price on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Robert W. Baird upped their price objective on shares of Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Truist Financial upped their price objective on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. KeyCorp upped their price objective on shares of Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, UBS Group upped their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.29.

Insider Buying and Selling

In related news, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the transaction, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This represents a 21.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 31,261 shares of company stock valued at $1,528,574 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Fluor Price Performance

Shares of FLR opened at $55.79 on Friday. Fluor Co. has a fifty-two week low of $35.04 and a fifty-two week high of $60.10. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 37.19, a price-to-earnings-growth ratio of 4.12 and a beta of 1.90. The firm has a 50-day simple moving average of $51.05 and a 200-day simple moving average of $47.21. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77.

Fluor (NYSE:FLR) last announced its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share 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 business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the company posted $1.02 EPS. Fluor’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Fluor Co. will post 2.62 earnings per share for the current 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.