Geode Capital Management LLC Sells 23,957 Shares of Fluor Corporation $FLR

Geode Capital Management LLC reduced its stake in Fluor Corporation (NYSE:FLR) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,183,633 shares of the construction company’s stock after selling 23,957 shares during the quarter. Geode Capital Management LLC’s holdings in Fluor were worth $165,832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Rubric Capital Management LP boosted its position in shares of Fluor by 12.5% in the 3rd quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company’s stock worth $189,315,000 after purchasing an additional 500,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Fluor by 8.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,137,672 shares of the construction company’s stock worth $174,077,000 after purchasing an additional 328,122 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Fluor by 27.4% in the 3rd quarter. Alliancebernstein L.P. now owns 3,280,423 shares of the construction company’s stock worth $138,007,000 after purchasing an additional 704,779 shares in the last quarter. Northern Trust Corp boosted its position in shares of Fluor by 0.3% in the 3rd quarter. Northern Trust Corp now owns 2,109,240 shares of the construction company’s stock worth $88,736,000 after purchasing an additional 6,675 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Fluor by 38.5% in the 3rd quarter. AQR Capital Management LLC now owns 1,963,964 shares of the construction company’s stock worth $82,624,000 after purchasing an additional 546,182 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FLR has been the topic of a number of analyst reports. DA Davidson boosted their price target on Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Weiss Ratings raised Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Zacks Research cut Fluor from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. 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. Finally, UBS Group reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Fluor in a research report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.33.

Fluor Stock Up 1.8%

FLR opened at $50.23 on Thursday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average price of $47.48 and a 200-day moving average price of $45.73. Fluor Corporation has a twelve month low of $37.62 and a twelve month high of $57.50. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 1.53 and a beta of 1.25.

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 company had revenue of $3.66 billion for 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 firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 earnings per share. Equities research analysts forecast that Fluor Corporation will post 2.69 earnings per share for the current year.

Fluor Company 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.