Public Employees Retirement System of Ohio Purchases Shares of 44,246 Fluor Corporation $FLR

Public Employees Retirement System of Ohio acquired a new position in shares of Fluor Corporation (NYSE:FLR) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 44,246 shares of the construction company’s stock, valued at approximately $2,318,000.

A number of other institutional investors also recently modified their holdings of the company. PenderFund Capital Management Ltd. acquired a new position in shares of Fluor in the 2nd quarter worth approximately $2,377,000. Corient Private Wealth LP bought a new position in Fluor in the 2nd quarter valued at $1,180,000. Birmingham Capital Management Co. Inc. AL acquired a new position in Fluor in the second quarter worth $221,000. Roberts Glore & Co. Inc. IL bought a new stake in shares of Fluor during the second quarter worth $220,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Fluor in the second quarter valued at $3,139,000. Institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FLR shares. UBS Group lifted their price target on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings cut shares of Fluor from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Robert W. Baird upped their target price on shares of Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Citigroup raised their price target on shares of Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Barclays boosted their price objective on shares of Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $63.33.

Fluor Stock Performance

Shares of NYSE:FLR opened at $56.15 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38. Fluor Corporation has a 1-year low of $39.33 and a 1-year high of $58.35. The stock has a market capitalization of $7.51 billion, a P/E ratio of -4.57, a P/E/G ratio of 1.76 and a beta of 1.26. The business has a 50-day moving average price of $51.84 and a two-hundred day moving average price of $49.56.

Fluor (NYSE:FLR) last issued its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.21. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS. Equities analysts predict that Fluor Corporation will post 2.66 earnings per share for the current year.

Insider Buying and Selling

In other Fluor news, insider Pierre Bechelany sold 5,000 shares of Fluor stock in a transaction on Friday, August 7th. The shares were sold at an average price of $55.24, for a total transaction of $276,200.00. Following the completion of the sale, the insider owned 36,064 shares of the company’s stock, valued at approximately $1,992,175.36. The trade was a 12.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company’s stock.

About Fluor

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.