Victory Capital Management Inc. Sells 627,684 Shares of Fluor Co. (NYSE:FLR)

Victory Capital Management Inc. decreased its position in shares of Fluor Co. (NYSE:FLR) by 36.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,071,973 shares of the construction company’s stock after selling 627,684 shares during the quarter. Victory Capital Management Inc.’s holdings in Fluor were worth $46,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in shares of Fluor during the 1st quarter worth $28,000. ORG Partners LLC acquired a new stake in shares of Fluor during the 2nd quarter worth $34,000. GAMMA Investing LLC grew its holdings in shares of Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after purchasing an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after purchasing an additional 930 shares in the last quarter. Finally, Spire Wealth Management grew its holdings in shares of Fluor by 59.2% during the 4th quarter. Spire Wealth Management now owns 1,008 shares of the construction company’s stock worth $37,000 after purchasing an additional 375 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Transactions at Fluor

In other news, CAO John C. Regan sold 13,000 shares of the firm’s stock in a transaction dated 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 $2,703,669.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Fluor Price Performance

Fluor stock opened at $44.14 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $7.56 billion, a PE ratio of 25.66, a P/E/G ratio of 1.90 and a beta of 1.91. Fluor Co. has a 12 month low of $32.31 and a 12 month high of $51.64. The stock has a 50-day moving average price of $47.51 and a two-hundred day moving average price of $43.16.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 2nd. The construction company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.68 by $0.17. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.34 billion. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. Analysts expect that Fluor Co. will post 2.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FLR shares. DA Davidson increased their target price on Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Robert W. Baird raised their price objective on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Citigroup raised their price objective on Fluor from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. UBS Group raised their price objective on Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Barclays raised their price objective on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Fluor 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.