9,811 Shares in Fluor Co. (NYSE:FLR) Acquired by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC acquired a new stake in Fluor Co. (NYSE:FLR) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 9,811 shares of the construction company’s stock, valued at approximately $484,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its stake in shares of Fluor by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock valued at $235,000 after purchasing an additional 176 shares during the last quarter. GAMMA Investing LLC raised its holdings in Fluor by 10.3% during the fourth quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock valued at $112,000 after buying an additional 213 shares in the last quarter. Seelaus Asset Management LLC lifted its position in shares of Fluor by 3.7% in the third quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock worth $307,000 after buying an additional 230 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Fluor by 2.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock valued at $533,000 after acquiring an additional 241 shares during the last quarter. Finally, Xponance Inc. raised its stake in shares of Fluor by 1.2% in the 2nd quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock valued at $1,006,000 after acquiring an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on FLR shares. Robert W. Baird reiterated a “neutral” rating and set a $58.00 price target (up previously from $54.00) on shares of Fluor in a report on Wednesday, December 18th. UBS Group raised their target price 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. DA Davidson boosted their target price on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Finally, Truist Financial cut their price objective on Fluor from $66.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.14.

Fluor Trading Down 1.3 %

Shares of FLR opened at $54.58 on Friday. The stock’s 50-day moving average price is $52.46 and its 200 day moving average price is $50.33. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. Fluor Co. has a 12-month low of $35.04 and a 12-month high of $60.10. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 3.83 and a beta of 1.91.

Fluor (NYSE:FLR) last issued its earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 earnings per share. As a group, research analysts predict that Fluor Co. will post 2.62 earnings per share for the current year.

Insider Activity at Fluor

In other news, insider Mark E. Fields sold 50,000 shares of the company’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 sale, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This represents a 25.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of Fluor 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 transaction, the insider now directly owns 137,974 shares of the company’s stock, valued at $7,780,353.86. This represents a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

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.