Renaissance Technologies LLC Reduces Stake in Fluor Co. (NYSE:FLR)

Renaissance Technologies LLC cut its holdings in shares of Fluor Co. (NYSE:FLR) by 84.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,500 shares of the construction company’s stock after selling 306,000 shares during the period. Renaissance Technologies LLC’s holdings in Fluor were worth $2,461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FLR. Corient Private Wealth LLC increased its position in Fluor by 5.7% during the 4th quarter. Corient Private Wealth LLC now owns 18,511 shares of the construction company’s stock valued at $725,000 after purchasing an additional 992 shares during the period. US Bancorp DE increased its position in shares of Fluor by 20.7% during the fourth quarter. US Bancorp DE now owns 19,068 shares of the construction company’s stock valued at $747,000 after buying an additional 3,267 shares during the period. Advisory Services Network LLC bought a new position in Fluor in the fourth quarter worth about $183,000. Parallel Advisors LLC lifted its holdings in Fluor by 19.6% in the fourth quarter. Parallel Advisors LLC now owns 2,053 shares of the construction company’s stock worth $80,000 after buying an additional 337 shares during the period. Finally, Sona Asset Management US LLC purchased a new position in shares of Fluor during the 4th quarter worth approximately $3,521,000. Institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

Shares of FLR opened at $46.91 on Wednesday. The company has a market capitalization of $8.03 billion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 2.02 and a beta of 1.91. Fluor Co. has a twelve month low of $32.31 and a twelve month high of $51.64. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $47.45 and a 200 day moving average of $44.20.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.17. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the previous year, the business earned $0.76 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts anticipate that Fluor Co. will post 2.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluor

In other news, CAO John C. Regan sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Joseph L. Brennan sold 15,335 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the sale, the chief financial officer now owns 57,834 shares of the company’s stock, valued at approximately $2,751,163.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO John C. Regan sold 13,000 shares of the firm’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 transaction of $628,030.00. Following the completion of the transaction, the chief accounting officer now directly owns 55,965 shares in the company, valued at approximately $2,703,669.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,630 shares of company stock worth $1,371,528. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FLR shares. Truist Financial raised their target price on Fluor from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, August 5th. UBS Group boosted their target price on shares of Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Barclays upped their target price on shares of Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Robert W. Baird lifted their price target on shares of Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, DA Davidson upped their price objective on shares of Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average 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.