Versor Investments LP Acquires New Position in Fluor Co. (NYSE:FLR)

Versor Investments LP bought a new stake in Fluor Co. (NYSE:FLR - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,400 shares of the construction company's stock, valued at approximately $1,069,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new stake in shares of Fluor during the second quarter worth $47,559,000. Rubric Capital Management LP increased its holdings in shares of Fluor by 23.6% in the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company's stock worth $139,992,000 after purchasing an additional 614,521 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 worth $110,930,000 after purchasing an additional 323,111 shares during the period. Great Lakes Advisors LLC increased its holdings in shares of Fluor by 2,441.9% in the second quarter. Great Lakes Advisors LLC now owns 282,655 shares of the construction company's stock worth $12,310,000 after purchasing an additional 271,535 shares during the period. Finally, Principal Financial Group Inc. increased its holdings 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 during the period. 88.07% of the stock is owned by institutional investors.

Fluor Price Performance

Shares of Fluor stock traded down $1.32 during trading hours on Tuesday, reaching $48.50. The company's stock had a trading volume of 2,741,011 shares, compared to its average volume of 1,667,626. The firm has a 50 day moving average price of $49.80 and a 200-day moving average price of $46.55. Fluor Co. has a one year low of $35.04 and a one year high of $60.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market cap of $8.31 billion, a P/E ratio of 31.93, a P/E/G ratio of 2.21 and a beta of 1.90.

Fluor (NYSE:FLR - Get Free Report) last issued its earnings results 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 company 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 25.02% and a net margin of 2.62%. Fluor's revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share. On average, analysts predict that Fluor Co. will post 2.88 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FLR shares. Barclays raised their price objective on Fluor from $39.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, July 18th. DA Davidson increased their target price on shares of Fluor from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday. Citigroup upgraded shares of Fluor from a "neutral" rating to a "buy" rating and increased their target price for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. Truist Financial increased 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. Finally, KeyCorp raised their price objective on shares of Fluor from $57.00 to $64.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $60.29.

Insider Transactions at Fluor

In related news, CAO John C. Regan sold 13,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction of $628,030.00. Following the completion of the sale, the chief accounting officer now owns 55,965 shares of the company's stock, valued at $2,703,669.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Joseph L. Brennan sold 4,012 shares of the firm's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $50.01, for a total transaction of $200,640.12. Following the sale, the chief financial officer now owns 53,527 shares in the company, valued at approximately $2,676,885.27. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO John C. Regan sold 13,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction of $628,030.00. Following the sale, the chief accounting officer now owns 55,965 shares in the company, valued at approximately $2,703,669.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,261 shares of company stock valued at $2,156,604. Company insiders own 1.70% of the company's stock.

Fluor Company 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.