New York State Teachers Retirement System Acquires 3,461 Shares of Fluor Co. (NYSE:FLR)

New York State Teachers Retirement System lifted its holdings in Fluor Co. (NYSE:FLR) by 2.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 174,331 shares of the construction company’s stock after acquiring an additional 3,461 shares during the quarter. New York State Teachers Retirement System’s holdings in Fluor were worth $7,592,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Fluor by 18.6% in the fourth quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company’s stock worth $668,278,000 after purchasing an additional 2,670,473 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Fluor in the 4th quarter valued at about $26,918,000. King Luther Capital Management Corp boosted its holdings in Fluor by 84.2% during the 4th quarter. King Luther Capital Management Corp now owns 637,150 shares of the construction company’s stock valued at $24,957,000 after acquiring an additional 291,210 shares during the period. Westend Capital Management LLC bought a new position in Fluor during the 1st quarter worth approximately $10,472,000. Finally, Energy Income Partners LLC increased its stake in Fluor by 39.0% in the 1st quarter. Energy Income Partners LLC now owns 761,757 shares of the construction company’s stock worth $32,207,000 after purchasing an additional 213,758 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Stock Up 1.8 %

FLR stock opened at $49.62 on Monday. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 2.55 and a beta of 1.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.67 and a current ratio of 1.67. The business’s 50 day moving average price is $46.73 and its two-hundred day moving average price is $42.54. Fluor Co. has a fifty-two week low of $32.31 and a fifty-two week high of $51.64.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. Fluor had a return on equity of 24.98% and a net margin of 1.97%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the company earned $0.76 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, analysts forecast that Fluor Co. will post 2.9 earnings per share for the current fiscal year.

Insider Activity at Fluor

In other Fluor news, CAO John C. Regan sold 13,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total value of $628,030.00. Following the sale, the chief accounting officer now owns 55,965 shares in the company, valued at $2,703,669.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FLR. Citigroup raised their target price on shares of Fluor from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. KeyCorp upgraded shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective on the stock in a research report on Wednesday, July 17th. DA Davidson increased their target price on shares of Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 5th. UBS Group boosted their price target on Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Barclays increased their price objective on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.