ClearAlpha Technologies LP Acquires New Shares in Fluor Co. (NYSE:FLR)

ClearAlpha Technologies LP bought a new stake in Fluor Co. (NYSE:FLR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,221 shares of the construction company’s stock, valued at approximately $249,000.

Several other hedge funds also recently bought and sold shares of FLR. CIBC Asset Management Inc grew its stake in shares of Fluor by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock valued at $235,000 after buying an additional 176 shares in the last quarter. Seelaus Asset Management LLC increased its stake in shares of Fluor by 3.7% during the 3rd quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock worth $307,000 after purchasing an additional 230 shares during the last quarter. ClariVest Asset Management LLC increased its position in Fluor by 0.3% during the second quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock worth $3,379,000 after buying an additional 233 shares during the last quarter. Xponance Inc. boosted its stake in shares of Fluor by 1.2% during the 2nd quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock worth $1,006,000 after acquiring an additional 265 shares in the last quarter. Finally, JGP Wealth Management LLC increased its holdings in shares of Fluor by 5.6% during the 3rd quarter. JGP Wealth Management LLC now owns 5,313 shares of the construction company’s stock valued at $253,000 after acquiring an additional 283 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Fluor news, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the transaction, the insider now owns 147,045 shares in the company, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Joseph L. Brennan sold 4,012 shares of Fluor stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the sale, the chief financial officer now directly owns 53,527 shares in the company, valued at $2,676,885.27. The trade was a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,261 shares of company stock worth $4,360,074 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Fluor Stock Performance

NYSE:FLR opened at $55.11 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The firm’s 50-day moving average is $51.96 and its 200-day moving average is $47.93. Fluor Co. has a 52-week low of $35.04 and a 52-week high of $60.10. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 4.39 and a beta of 1.89.

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

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.