Mengis Capital Management Inc. Purchases Shares of 30,623 Fluor Co. (NYSE:FLR)

Mengis Capital Management Inc. acquired a new position in Fluor Co. (NYSE:FLR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,623 shares of the construction company’s stock, valued at approximately $1,510,000.

A number of other institutional investors have also made changes to their positions in FLR. Westfield Capital Management Co. LP bought a new stake in shares of Fluor in the third quarter worth $39,289,000. Charles Schwab Investment Management Inc. lifted its position in shares of 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 worth $100,092,000 after purchasing an additional 457,220 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of Fluor by 49.1% in the fourth quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock worth $61,792,000 after purchasing an additional 412,312 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Fluor by 42.1% in the third quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company’s stock worth $41,077,000 after purchasing an additional 254,904 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Fluor in the third quarter worth $9,542,000. Institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

NYSE:FLR opened at $37.12 on Tuesday. Fluor Co. has a one year low of $35.21 and a one year high of $60.10. The company has a market cap of $6.27 billion, a P/E ratio of 3.05, a P/E/G ratio of 1.36 and a beta of 1.89. The firm’s fifty day moving average price is $48.31 and its two-hundred day moving average price is $49.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77.

Fluor (NYSE:FLR) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a net margin of 13.14% and a return on equity of 15.14%. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.42 billion. Equities analysts expect that Fluor Co. will post 2.5 earnings per share for the current year.

Insider Activity at Fluor

In related news, insider Thomas P. D’agostino sold 7,681 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the transaction, the insider now directly owns 137,974 shares in the company, valued at approximately $7,780,353.86. This represents a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their target price on shares of Fluor from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. DA Davidson lowered their target price on shares of Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. KeyCorp boosted their target price on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Baird R W downgraded shares of Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Robert W. Baird lowered their target price on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Fluor presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.43.

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.