State of New Jersey Common Pension Fund D Sells 28,141 Shares of Fluor Co. (NYSE:FLR)

State of New Jersey Common Pension Fund D cut its stake in shares of Fluor Co. (NYSE:FLR) by 32.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,780 shares of the construction company’s stock after selling 28,141 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Fluor were worth $2,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. ClariVest Asset Management LLC raised its holdings in Fluor by 0.3% during the second quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock worth $3,379,000 after buying an additional 233 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in Fluor by 1.5% during the second quarter. Texas Permanent School Fund Corp now owns 151,320 shares of the construction company’s stock worth $6,590,000 after purchasing an additional 2,210 shares during the period. United Services Automobile Association boosted its position in shares of Fluor by 7.2% in the second quarter. United Services Automobile Association now owns 13,546 shares of the construction company’s stock valued at $590,000 after acquiring an additional 904 shares during the period. Choreo LLC bought a new position in shares of Fluor in the second quarter valued at approximately $250,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Fluor during the second quarter valued at approximately $51,000. 88.07% of the stock is owned by institutional investors.

Insider Activity at Fluor

In other Fluor news, CAO John C. Regan sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total value of $628,030.00. Following the completion of the transaction, the chief accounting officer now directly owns 55,965 shares of the company’s stock, valued at $2,703,669.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Fluor Price Performance

Shares of FLR stock opened at $45.93 on Thursday. Fluor Co. has a fifty-two week low of $32.31 and a fifty-two week high of $51.64. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.91 and a beta of 1.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.77 and a current ratio of 1.77. The stock’s 50-day simple moving average is $47.67 and its 200-day simple moving average is $43.54.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.34 billion. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share. As a group, equities analysts forecast that Fluor Co. will post 2.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on FLR shares. Citigroup lifted their price target on shares of Fluor from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. UBS Group upped their price target on shares of Fluor from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Robert W. Baird boosted their target price on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. KeyCorp raised Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price for the company in a research report on Wednesday, July 17th. Finally, DA Davidson boosted their target price on Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Fluor presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

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.