Cornerstone Wealth Management LLC Grows Stake in Fluor Corporation (NYSE:FLR)

Cornerstone Wealth Management LLC raised its stake in Fluor Corporation (NYSE:FLR) by 14.9% during the first quarter, HoldingsChannel reports. The fund owned 11,272 shares of the construction company’s stock after buying an additional 1,461 shares during the period. Cornerstone Wealth Management LLC’s holdings in Fluor were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FLR. Sterling Capital Management LLC grew its stake in shares of Fluor by 196.2% in the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company’s stock worth $30,000 after acquiring an additional 408 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Fluor by 121.5% during the first quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company’s stock valued at $43,000 after purchasing an additional 666 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after purchasing an additional 287 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Fluor during the fourth quarter valued at $57,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Fluor by 826.2% during the fourth quarter. Venturi Wealth Management LLC now owns 1,556 shares of the construction company’s stock valued at $77,000 after purchasing an additional 1,388 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Stock Down 1.0%

FLR stock opened at $49.55 on Friday. Fluor Corporation has a fifty-two week low of $29.20 and a fifty-two week high of $60.10. The business’s 50-day moving average is $39.84 and its two-hundred day moving average is $42.73. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.74 and a current ratio of 1.74. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 4.75, a P/E/G ratio of 2.40 and a beta of 1.30.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.50 by $0.23. Fluor had a return on equity of 14.59% and a net margin of 11.13%. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, analysts forecast that Fluor Corporation will post 2.5 earnings per share for the current year.

Insider Transactions at Fluor

In related news, Chairman David E. Constable sold 40,800 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total transaction of $1,999,200.00. Following the completion of the sale, the chairman now owns 870,627 shares in the company, valued at approximately $42,660,723. This trade represents a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $45.43, for a total value of $859,535.60. Following the sale, the insider now owns 64,383 shares of the company’s stock, valued at $2,924,919.69. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

FLR has been the topic of a number of research analyst reports. Wall Street Zen downgraded Fluor from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Truist Financial upped their price target on Fluor from $45.00 to $47.00 and gave the company a “buy” rating in a report on Monday, May 5th. Robert W. Baird set a $41.00 price target on Fluor in a report on Monday, May 5th. Citigroup lowered their price target on Fluor from $55.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Barclays set a $40.00 target price on Fluor and gave the company an “equal weight” rating in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.43.

Fluor Company Profile

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.