Corebridge Financial Inc. Cuts Holdings in Fluor Co. (NYSE:FLR)

Corebridge Financial Inc. reduced its position in Fluor Co. (NYSE:FLR) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 277,778 shares of the construction company’s stock after selling 14,805 shares during the period. Corebridge Financial Inc. owned 0.16% of Fluor worth $13,700,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Fluor by 10.3% during the 4th quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock worth $112,000 after acquiring an additional 213 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Fluor by 2.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock valued at $533,000 after purchasing an additional 241 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Fluor by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company’s stock worth $256,000 after buying an additional 264 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of Fluor by 4.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock valued at $286,000 after buying an additional 277 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Fluor by 43.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after acquiring an additional 287 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Fluor Trading Down 0.4 %

Shares of FLR opened at $38.78 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 3.18, a PEG ratio of 1.36 and a beta of 1.73. The company has a 50-day moving average of $42.81 and a 200 day moving average of $48.27. Fluor Co. has a 1-year low of $34.01 and a 1-year high of $60.10.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. On average, research analysts expect that Fluor Co. will post 2.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FLR shares. Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Truist Financial lowered their price target on Fluor from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Citigroup cut their price objective on shares of Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Barclays set a $40.00 target price on shares of Fluor and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Finally, Robert W. Baird reduced their price objective on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.71.

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.