Kentucky Retirement Systems Invests $629,000 in Fluor Corporation $FLR

Kentucky Retirement Systems purchased a new position in shares of Fluor Corporation (NYSE:FLR) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 13,487 shares of the construction company’s stock, valued at approximately $629,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FLR. Global Retirement Partners LLC increased its stake in Fluor by 91.7% in the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after buying an additional 311 shares during the period. Assetmark Inc. lifted its stake in shares of Fluor by 249.0% in the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock worth $27,000 after acquiring an additional 483 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Fluor in the fourth quarter valued at about $27,000. Larson Financial Group LLC boosted its holdings in shares of Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after acquiring an additional 734 shares in the last quarter. Finally, Banque Transatlantique SA increased its stake in shares of Fluor by 312.5% during the second quarter. Banque Transatlantique SA now owns 825 shares of the construction company’s stock worth $43,000 after acquiring an additional 625 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Fluor Price Performance

Shares of NYSE:FLR opened at $50.17 on Friday. The business’s 50 day simple moving average is $50.26 and its 200-day simple moving average is $48.24. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 1.59 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. Fluor Corporation has a 12 month low of $37.62 and a 12 month high of $57.00.

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 the consensus estimate of $0.66 by ($0.52). The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.73 earnings per share. As a group, equities analysts forecast that Fluor Corporation will post 2.63 earnings per share 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.