Towle & Co. Sells 66,871 Shares of Fluor Corporation $FLR

Towle & Co. lowered its holdings in shares of Fluor Corporation (NYSE:FLR) by 35.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 121,728 shares of the construction company’s stock after selling 66,871 shares during the quarter. Fluor makes up approximately 2.2% of Towle & Co.’s investment portfolio, making the stock its 23rd largest position. Towle & Co.’s holdings in Fluor were worth $5,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FLR. Seelaus Asset Management LLC increased its holdings in Fluor by 2.9% during the fourth quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company’s stock valued at $348,000 after buying an additional 245 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after acquiring an additional 248 shares during the last quarter. Clear Creek Financial Management LLC grew its position in shares of Fluor by 2.7% during the 4th quarter. Clear Creek Financial Management LLC now owns 11,756 shares of the construction company’s stock valued at $466,000 after acquiring an additional 310 shares during the period. Global Retirement Partners LLC grew its position in shares of Fluor by 91.7% during the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after acquiring an additional 311 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Fluor by 5.8% in the 3rd quarter. Allworth Financial LP now owns 6,871 shares of the construction company’s stock worth $289,000 after purchasing an additional 374 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on FLR shares. Robert W. Baird lifted their target price on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Truist Financial raised their price objective on Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Citigroup lowered their price objective on Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Weiss Ratings raised shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Zacks Research cut shares of Fluor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.20.

Fluor Trading Up 3.5%

Shares of FLR stock opened at $53.38 on Friday. The stock has a fifty day simple moving average of $49.53 and a two-hundred day simple moving average of $48.02. Fluor Corporation has a 52-week low of $37.62 and a 52-week high of $57.50. The firm has a market capitalization of $7.46 billion, a PE ratio of 31.04, a PEG ratio of 1.63 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the company earned $0.73 EPS. The business’s revenue was down 8.0% on a year-over-year basis. On average, analysts predict that Fluor Corporation will post 2.63 EPS for the current fiscal year.

Fluor Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.