Kentucky Retirement Systems Insurance Trust Fund Makes New Investment in Fluor Co. (NYSE:FLR)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in Fluor Co. (NYSE:FLR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,785 shares of the construction company’s stock, valued at approximately $285,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Fluor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company’s stock worth $190,953,000 after acquiring an additional 51,018 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Fluor by 27.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after acquiring an additional 457,220 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Fluor by 0.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,004,775 shares of the construction company’s stock worth $95,648,000 after acquiring an additional 9,789 shares in the last quarter. Artemis Investment Management LLP grew its stake in Fluor by 49.1% in the 4th quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock worth $61,792,000 after acquiring an additional 412,312 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its stake in Fluor by 13.1% in the 4th quarter. Hennessy Advisors Inc. now owns 1,040,600 shares of the construction company’s stock worth $51,322,000 after acquiring an additional 120,800 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Fluor Price Performance

Shares of FLR opened at $39.58 on Thursday. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 3.06 and a beta of 1.89. Fluor Co. has a twelve month low of $35.04 and a twelve month high of $60.10. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $49.31 and a two-hundred day moving average of $50.14.

Fluor (NYSE:FLR) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.30). The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.42 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. As a group, analysts predict that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the transaction, the insider now owns 147,045 shares of the company’s stock, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas P. D’agostino sold 7,681 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $56.39, for a total transaction of $433,131.59. Following the transaction, the insider now directly owns 137,974 shares of the company’s stock, valued at approximately $7,780,353.86. This trade represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. DA Davidson dropped their price objective on shares of Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial dropped their price objective on shares of Fluor from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday. Baird R W downgraded shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Robert W. Baird dropped their price objective on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, UBS Group increased their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.43.

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.