Fmr LLC Reduces Holdings in Fluor Co. (NYSE:FLR)

Fmr LLC cut its position in Fluor Co. (NYSE:FLR) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,776,145 shares of the construction company’s stock after selling 728,707 shares during the quarter. Fmr LLC owned 8.03% of Fluor worth $657,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new stake in Fluor during the 2nd quarter worth approximately $47,559,000. Westfield Capital Management Co. LP acquired a new stake in shares of Fluor during the third quarter worth approximately $39,289,000. Rubric Capital Management LP increased its stake in shares of Fluor by 23.6% in the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock worth $139,992,000 after buying an additional 614,521 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Fluor by 27.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after acquiring an additional 457,220 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Fluor by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock valued at $110,930,000 after acquiring an additional 323,111 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Price Performance

Shares of NYSE FLR opened at $55.25 on Friday. Fluor Co. has a 1-year low of $35.04 and a 1-year high of $60.10. The firm has a market capitalization of $9.48 billion, a PE ratio of 36.83, a P/E/G ratio of 4.38 and a beta of 1.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The business’s fifty day moving average price is $51.62 and its two-hundred day moving average price is $47.63.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.25). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts expect that Fluor Co. will post 2.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird upped their price objective on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Truist Financial lifted their target price on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. DA Davidson upped their price target on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, KeyCorp boosted their target price on shares of Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.29.

Insider Activity at Fluor

In related news, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $729,485.95. Following the transaction, the chief financial officer now owns 57,834 shares in the company, valued at $2,751,163.38. This trade represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark E. Fields sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of the sale, the insider now owns 147,045 shares of the company’s stock, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,261 shares of company stock worth $4,360,074 in the last three months. 1.70% of the stock is owned by company insiders.

Fluor 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.