Caisse DE Depot ET Placement DU Quebec Makes New $8.17 Million Investment in Fluor Co. (NYSE:FLR)

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Fluor Co. (NYSE:FLR - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 171,138 shares of the construction company's stock, valued at approximately $8,165,000. Caisse DE Depot ET Placement DU Quebec owned 0.10% of Fluor at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hood River Capital Management LLC acquired a new stake in shares of Fluor during the 2nd quarter worth $47,559,000. Westfield Capital Management Co. LP acquired a new position in Fluor during the third quarter valued at approximately $39,289,000. Rubric Capital Management LP grew its stake in Fluor by 23.6% during 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 period. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 valued at $100,092,000 after acquiring an additional 457,220 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Fluor by 14.5% in the second 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 in the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FLR. Citigroup raised shares of Fluor from a "neutral" rating to a "buy" rating and upped their price objective for the company from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Truist Financial boosted their price objective on Fluor from $61.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. UBS Group lifted their target price on 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 lifted their price target on Fluor from $46.00 to $54.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Finally, DA Davidson boosted their price objective on Fluor from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $60.29.

Fluor Stock Performance

Shares of Fluor stock traded down $0.41 during midday trading on Tuesday, hitting $54.70. The company had a trading volume of 1,972,471 shares, compared to its average volume of 1,712,804. The stock has a market cap of $9.38 billion, a PE ratio of 36.47, a P/E/G ratio of 4.31 and a beta of 1.89. Fluor Co. has a 1-year low of $35.04 and a 1-year high of $60.10. The business's 50 day simple moving average is $52.13 and its two-hundred day simple moving average is $48.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the firm posted $1.02 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts predict that Fluor Co. will post 2.62 EPS for the current fiscal year.

Insider Activity at Fluor

In other Fluor news, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction 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 transaction, the insider now owns 147,045 shares in the company, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the sale, the chief financial officer now owns 53,527 shares in the company, valued at $2,676,885.27. The trade was a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,261 shares of company stock valued at $4,360,074 over the last quarter. 1.70% of the stock is owned by company insiders.

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.