Benin Management CORP Decreases Stake in Fluor Co. (NYSE:FLR)

Benin Management CORP trimmed its holdings in Fluor Co. (NYSE:FLR) by 3.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,250 shares of the construction company’s stock after selling 200 shares during the quarter. Benin Management CORP’s holdings in Fluor were worth $259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FLR. Aequim Alternative Investments LP boosted its stake in shares of Fluor by 6.0% in the 3rd quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock worth $35,437,000 after buying an additional 41,800 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Fluor by 139.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock valued at $819,000 after purchasing an additional 9,992 shares during the period. AQR Capital Management LLC increased its position in shares of Fluor by 63.8% during the 2nd quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock valued at $24,771,000 after purchasing an additional 222,070 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 457,220 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of Fluor by 67.7% in the third quarter. Dynamic Technology Lab Private Ltd now owns 49,152 shares of the construction company’s stock worth $2,345,000 after buying an additional 19,836 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Activity

In related news, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of the sale, the insider now owns 147,045 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, insider Thomas P. D’agostino sold 7,681 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the completion of the sale, the insider now directly owns 137,974 shares in the company, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Fluor Trading Down 1.3 %

Shares of NYSE:FLR opened at $54.58 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 firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 3.83 and a beta of 1.91. Fluor Co. has a 1 year low of $35.04 and a 1 year high of $60.10. The business’s 50 day moving average price is $52.46 and its 200-day moving average price is $50.29.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $1.02 EPS. On average, equities research analysts forecast that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $58.00 price target (up from $54.00) on shares of Fluor in a research report on Wednesday, December 18th. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $65.00 in a research report on Tuesday, October 22nd. KeyCorp upped their price target on Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. DA Davidson lifted their price objective on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Truist Financial reduced their target price on shares of Fluor from $66.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.14.

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.