Atom Investors LP Takes $3.75 Million Position in Fluor Co. (NYSE:FLR)

Atom Investors LP purchased a new position in shares of Fluor Co. (NYSE:FLR) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 78,524 shares of the construction company’s stock, valued at approximately $3,746,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hood River Capital Management LLC acquired a new position in Fluor in the 2nd quarter worth $47,559,000. Westfield Capital Management Co. LP acquired a new position in shares of Fluor in the third quarter worth about $39,289,000. Rubric Capital Management LP grew its stake in Fluor by 23.6% during the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after purchasing an additional 614,521 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fluor by 27.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after purchasing an additional 457,220 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of 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 buying an additional 323,111 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Transactions at Fluor

In related news, CFO Joseph L. Brennan sold 4,012 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the sale, the chief financial officer now owns 53,527 shares of the company’s stock, valued at $2,676,885.27. This represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 transaction of $2,831,500.00. Following the completion of the sale, the insider now directly owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This represents a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,261 shares of company stock worth $4,360,074. Company insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

FLR has been the topic of several recent analyst reports. UBS Group upped their price target on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. DA Davidson boosted their price objective on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird increased their target price on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Truist Financial upped their price target on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.29.

Fluor Price Performance

Shares of FLR opened at $56.13 on Monday. 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 company has a market cap of $9.63 billion, a P/E ratio of 37.42, a PEG ratio of 4.39 and a beta of 1.90. Fluor Co. has a 12 month low of $35.04 and a 12 month high of $60.10. The stock has a fifty day moving average price of $51.96 and a 200 day moving average price of $47.86.

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