Victory Capital Management Inc. Has $46.50 Million Stock Holdings in Fluor Co. (NYSE:FLR)

Victory Capital Management Inc. lessened its position in Fluor Co. (NYSE:FLR) by 9.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 974,675 shares of the construction company’s stock after selling 97,298 shares during the period. Victory Capital Management Inc. owned about 0.57% of Fluor worth $46,502,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Fluor by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 17,112,278 shares of the construction company’s stock valued at $723,507,000 after purchasing an additional 51,322 shares in the last quarter. Rubric Capital Management LP lifted its position in Fluor by 23.6% during the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock worth $139,992,000 after buying an additional 614,521 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Fluor by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock worth $110,930,000 after buying an additional 323,111 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Fluor during the 2nd quarter worth about $47,559,000. Finally, King Luther Capital Management Corp lifted its position in Fluor by 1.8% during the 2nd quarter. King Luther Capital Management Corp now owns 1,052,106 shares of the construction company’s stock worth $45,819,000 after buying an additional 18,535 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Buying and Selling

In related news, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the sale, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at approximately $2,107,972.40. This represents a 21.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 31,261 shares of company stock valued at $1,528,574. 1.70% of the stock is owned by corporate insiders.

Fluor Stock Performance

Shares of FLR stock opened at $51.93 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market cap of $8.91 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 3.93 and a beta of 1.90. The stock has a 50-day moving average of $50.14 and a 200-day moving average of $46.73. Fluor Co. has a one year low of $35.04 and a one year high of $60.10.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $1.02 earnings per share. As a group, sell-side analysts expect that Fluor Co. will post 2.62 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. DA Davidson upped their price target on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group boosted their price objective on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. Truist Financial boosted their price objective on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, KeyCorp boosted their price objective on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.29.

About Fluor

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.