Neo Ivy Capital Management Invests $2.17 Million in Fluor Co. (NYSE:FLR)

Neo Ivy Capital Management bought a new position in shares of Fluor Co. (NYSE:FLR - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 45,402 shares of the construction company's stock, valued at approximately $2,166,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its position in shares of Fluor by 3.7% in the third quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company's stock valued at $235,000 after acquiring an additional 176 shares in the last quarter. Seelaus Asset Management LLC raised its position in Fluor by 3.7% in the third quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company's stock valued at $307,000 after purchasing an additional 230 shares during the period. ClariVest Asset Management LLC raised its position in Fluor by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company's stock valued at $3,379,000 after purchasing an additional 233 shares during the period. Xponance Inc. raised its position in Fluor by 1.2% in the second quarter. Xponance Inc. now owns 23,097 shares of the construction company's stock valued at $1,006,000 after purchasing an additional 265 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in shares of Fluor by 4.9% in the third quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company's stock valued at $286,000 after buying an additional 277 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Stock Up 1.1 %

Shares of NYSE FLR traded up $0.59 during midday trading on Wednesday, reaching $55.78. 813,760 shares of the company's stock were exchanged, compared to its average volume of 1,713,854. Fluor Co. has a 52-week low of $35.04 and a 52-week high of $60.10. The stock has a market capitalization of $9.57 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 4.36 and a beta of 1.89. 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 business's fifty day moving average price is $53.15 and its two-hundred day moving average price is $48.70.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate 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 net margin of 1.64% and a return on equity of 20.05%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 earnings per share. Analysts forecast that Fluor Co. will post 2.62 EPS for the current year.

Insider Activity

In other news, insider Mark E. Fields sold 50,000 shares of the business'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 transaction, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph L. Brennan sold 15,335 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $47.57, for a total value of $729,485.95. Following the completion of the sale, the chief financial officer now owns 57,834 shares of the company's stock, valued at $2,751,163.38. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,942 shares of company stock valued at $4,793,206. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FLR has been the subject of several analyst reports. DA Davidson boosted their target price on Fluor from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Citigroup raised Fluor from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. KeyCorp lifted their price target on Fluor from $57.00 to $64.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. UBS Group lifted their price target on Fluor from $51.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, Truist Financial lifted their price target on Fluor from $61.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.29.

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.