Wellington Management Group LLP Has $518.33 Million Stake in Fluor Co. (NYSE:FLR)

Wellington Management Group LLP reduced its stake in shares of Fluor Co. (NYSE:FLR) by 65.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,509,451 shares of the construction company’s stock after selling 20,237,107 shares during the quarter. Wellington Management Group LLP owned about 0.06% of Fluor worth $518,326,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Fluor by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,698,120 shares of the construction company’s stock valued at $872,871,000 after purchasing an additional 168,822 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Fluor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company’s stock valued at $190,953,000 after buying an additional 51,018 shares in the last quarter. Artemis Investment Management LLP raised its stake in Fluor by 49.1% during the 4th quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock worth $61,792,000 after buying an additional 412,312 shares during the period. Hennessy Advisors Inc. grew its stake in Fluor by 13.1% in the fourth quarter. Hennessy Advisors Inc. now owns 1,040,600 shares of the construction company’s stock valued at $51,322,000 after acquiring an additional 120,800 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Fluor by 24.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 973,753 shares of the construction company’s stock worth $46,458,000 after acquiring an additional 193,071 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FLR has been the topic of several recent analyst reports. Citigroup cut their price objective on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Barclays set a $40.00 price objective on shares of Fluor and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. KeyCorp boosted their price objective on shares of Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. StockNews.com upgraded Fluor from a “hold” rating to a “buy” rating in a report on Tuesday, March 25th. Finally, DA Davidson reduced their price objective on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.71.

Fluor Price Performance

NYSE:FLR opened at $35.82 on Tuesday. Fluor Co. has a 52-week low of $34.01 and a 52-week high of $60.10. The company has a market cap of $6.02 billion, a P/E ratio of 2.94, a P/E/G ratio of 1.36 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. The stock’s 50-day simple moving average is $41.76 and its 200 day simple moving average is $48.05.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.30). The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.42 billion. Fluor had a return on equity of 15.14% and a net margin of 13.14%. As a group, sell-side analysts forecast that Fluor Co. will post 2.5 EPS for the current fiscal year.

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.