Corebridge Financial Inc. Sells 14,805 Shares of Fluor Co. (NYSE:FLR)

Corebridge Financial Inc. decreased its holdings in Fluor Co. (NYSE:FLR) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 277,778 shares of the construction company’s stock after selling 14,805 shares during the period. Corebridge Financial Inc.’s holdings in Fluor were worth $13,700,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of Fluor by 10.3% in the 4th quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock worth $112,000 after acquiring an additional 213 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Fluor by 2.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock valued at $533,000 after purchasing an additional 241 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Fluor by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company’s stock worth $256,000 after purchasing an additional 264 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Fluor by 4.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock valued at $286,000 after buying an additional 277 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Fluor by 43.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock worth $47,000 after buying an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

Shares of NYSE:FLR opened at $38.78 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28. Fluor Co. has a twelve month low of $34.01 and a twelve month high of $60.10. The company’s 50 day moving average is $42.81 and its 200 day moving average is $48.27. The company has a market cap of $6.52 billion, a PE ratio of 3.18, a price-to-earnings-growth ratio of 1.36 and a beta of 1.73.

Fluor (NYSE:FLR) last posted its earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. On average, sell-side analysts forecast that Fluor Co. will post 2.5 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FLR. Robert W. Baird lowered their target price on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. StockNews.com upgraded Fluor from a “hold” rating to a “buy” rating in a research note on Tuesday. KeyCorp increased their price target on Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. DA Davidson dropped their price target on Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Finally, Baird R W cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.71.

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.