Pacer Advisors Inc. Increases Holdings in Fluor Co. (NYSE:FLR)

Posted by on May 3rd, 2023

Pacer Advisors Inc. increased its stake in shares of Fluor Co. (NYSE:FLR – Get Rating) by 227.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,228 shares of the construction company’s stock after buying an additional 18,906 shares during the quarter. Pacer Advisors Inc.’s holdings in Fluor were worth $944,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ronald Blue Trust Inc. raised its position in Fluor by 1,186.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,055 shares of the construction company’s stock valued at $26,000 after purchasing an additional 973 shares during the period. Atlas Capital Advisors LLC raised its position in Fluor by 665.0% in the second quarter. Atlas Capital Advisors LLC now owns 1,836 shares of the construction company’s stock valued at $45,000 after purchasing an additional 1,596 shares during the period. Neo Ivy Capital Management purchased a new stake in Fluor in the third quarter valued at $73,000. Wipfli Financial Advisors LLC purchased a new stake in Fluor in the third quarter valued at $77,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Fluor in the fourth quarter valued at $104,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

FLR has been the topic of a number of research analyst reports. Robert W. Baird lifted their target price on Fluor from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Wednesday, February 22nd. Credit Suisse Group boosted their price objective on Fluor from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, February 22nd. Finally, StockNews.com began coverage on Fluor in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.29.

Insider Buying and Selling

In other news, insider James R. Breuer sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $37.81, for a total transaction of $151,240.00. Following the completion of the sale, the insider now owns 41,742 shares in the company, valued at approximately $1,578,265.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

Fluor Stock Down 2.9 %

Shares of NYSE:FLR opened at $28.20 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. Fluor Co. has a fifty-two week low of $21.67 and a fifty-two week high of $38.20. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 38.63, a price-to-earnings-growth ratio of 0.69 and a beta of 2.27. The firm’s 50 day moving average price is $31.49 and its 200 day moving average price is $33.06.

Fluor (NYSE:FLR – Get Rating) last posted its earnings results on Tuesday, February 21st. The construction company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.11). Fluor had a net margin of 1.06% and a return on equity of 8.49%. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period last year, the company earned $0.31 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts predict that Fluor Co. will post 1.69 earnings per share for the current fiscal year.

Fluor Company Profile

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Fluor Corp. operates as a holding company. The firm engages in the provision of engineering, procurement, construction, fabrication and modularization, operations, maintenance and asset integrity, as well as project management services, on a global basis. It operates through the following segments: Energy & Chemicals, Mining & Industrial, Infrastructure & Power, Diversified Services and Government.

See Also

Institutional Ownership by Quarter for Fluor (NYSE:FLR)

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