Geode Capital Management LLC Boosts Holdings in Fluor Co. (NYSE:FLR)

Geode Capital Management LLC raised its holdings in Fluor Co. (NYSE:FLR - Free Report) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,001,622 shares of the construction company's stock after buying an additional 51,018 shares during the period. Geode Capital Management LLC owned about 2.33% of Fluor worth $190,953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLR. Aequim Alternative Investments LP boosted its position in shares of Fluor by 6.0% during the third quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company's stock valued at $35,437,000 after buying an additional 41,800 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Fluor by 139.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company's stock worth $819,000 after acquiring an additional 9,992 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Fluor by 63.8% during the second quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company's stock valued at $24,771,000 after purchasing an additional 222,070 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Fluor by 27.9% during 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 during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in Fluor by 67.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 49,152 shares of the construction company's stock valued at $2,345,000 after buying an additional 19,836 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Insider Activity at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the business's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the transaction, the chief financial officer now owns 57,834 shares of the company's stock, valued at approximately $2,751,163.38. The trade was a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas P. D'agostino sold 7,681 shares of the business's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the completion of the sale, the insider now owns 137,974 shares in the company, valued at approximately $7,780,353.86. This trade represents a 5.27 % 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 worth $4,793,206. 1.70% of the stock is owned by corporate insiders.

Fluor Stock Performance

FLR stock remained flat at $54.64 during midday trading on Monday. The company had a trading volume of 2,493,608 shares, compared to its average volume of 1,717,608. The stock has a market capitalization of $9.37 billion, a P/E ratio of 36.43, a PEG 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. Fluor Co. has a fifty-two week low of $35.04 and a fifty-two week high of $60.10. The business has a 50 day simple moving average of $53.54 and a 200-day simple moving average of $48.98.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings results 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). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business posted $1.02 earnings per share. The firm's revenue was up 3.3% on a year-over-year basis. Analysts expect that Fluor Co. will post 2.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLR has been the topic of a number of recent analyst reports. 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. Truist Financial increased their price target on shares of Fluor from $61.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. DA Davidson increased their target price on shares of Fluor from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. KeyCorp upped their price objective on Fluor from $57.00 to $64.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Finally, Citigroup upgraded Fluor from a "neutral" rating to a "buy" rating and increased their price target for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.