Cornercap Investment Counsel Inc. Has $1.03 Million Stake in Fluor Co. (NYSE:FLR)

Cornercap Investment Counsel Inc. boosted its position in Fluor Co. (NYSE:FLR) by 68.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,595 shares of the construction company’s stock after buying an additional 9,556 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Fluor were worth $1,028,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC acquired a new position in Fluor during the first quarter worth $28,000. ORG Partners LLC acquired a new stake in shares of Fluor in the 2nd quarter worth about $34,000. GAMMA Investing LLC lifted its position in Fluor by 46.4% in the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after acquiring an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after purchasing an additional 930 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Fluor during the 2nd quarter worth approximately $51,000. Institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FLR. Barclays lifted their target price on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. KeyCorp upgraded shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price for the company in a research note on Wednesday, July 17th. Truist Financial raised their price target on shares of Fluor from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, August 5th. UBS Group upped their price objective on shares of Fluor from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, Robert W. Baird lifted their target price on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.00.

Fluor Stock Performance

Shares of FLR stock opened at $44.92 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.90 and a beta of 1.91. Fluor Co. has a 52 week low of $32.31 and a 52 week high of $51.64. The firm’s 50-day simple moving average is $47.54 and its two-hundred day simple moving average is $43.23.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. Fluor’s revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that Fluor Co. will post 2.9 earnings per share for the current year.

Insider Activity

In related news, CAO John C. Regan sold 13,000 shares of Fluor stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total value of $628,030.00. Following the completion of the sale, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at approximately $2,703,669.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

About Fluor

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.