Charles Schwab Investment Management Inc. Increases Stake in Fluor Co. (NYSE:FLR)

Charles Schwab Investment Management Inc. raised its holdings in shares of Fluor Co. (NYSE:FLR) by 27.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,097,931 shares of the construction company’s stock after buying an additional 457,220 shares during the period. Charles Schwab Investment Management Inc. owned about 1.22% of Fluor worth $100,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ORG Partners LLC purchased a new stake in shares of Fluor in the second quarter worth $34,000. GAMMA Investing LLC increased its stake in shares of Fluor by 46.4% in the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after purchasing an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Fluor by 6,642.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after purchasing an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Fluor in the second quarter worth $51,000. Finally, Quest Partners LLC purchased a new stake in shares of Fluor in the second quarter worth $52,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Fluor

In other news, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the transaction, the insider now owns 147,045 shares of the company’s stock, valued at $8,327,158.35. The trade was a 25.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph L. Brennan sold 11,619 shares of Fluor stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the transaction, the chief financial officer now directly owns 41,908 shares in the company, valued at approximately $2,107,972.40. The trade was a 21.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,261 shares of company stock valued at $4,360,074. Company insiders own 1.70% of the company’s stock.

Fluor Price Performance

Fluor stock opened at $55.93 on Wednesday. The firm has a 50-day moving average price of $51.24 and a 200-day moving average price of $47.45. The firm has a market capitalization of $9.59 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 4.36 and a beta of 1.90. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. Fluor Co. has a 12-month low of $35.04 and a 12-month high of $60.10.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.25). The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 EPS. As a group, equities research analysts forecast that Fluor Co. will post 2.62 EPS for the current year.

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.