Fluor Co. (NYSE:FLR) Position Decreased by Rubric Capital Management LP

Rubric Capital Management LP reduced its stake in Fluor Co. (NYSE:FLR - Free Report) by 13.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,783,441 shares of the construction company's stock after selling 431,080 shares during the period. Fluor comprises approximately 2.2% of Rubric Capital Management LP's investment portfolio, making the stock its 9th largest position. Rubric Capital Management LP owned 1.62% of Fluor worth $132,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLR. ORG Partners LLC bought a new stake in shares of Fluor during the second quarter worth about $34,000. GAMMA Investing LLC grew its holdings in Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company's stock worth $39,000 after acquiring an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Fluor by 6,642.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company's stock valued at $41,000 after acquiring an additional 930 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Fluor during the second quarter worth $51,000. Finally, Quest Partners LLC bought a new stake in shares of Fluor in the second quarter worth $52,000. 88.07% of the stock is owned by institutional investors.

Fluor Stock Down 1.2 %

Fluor stock traded down $0.68 during midday trading on Wednesday, reaching $55.25. The stock had a trading volume of 1,607,407 shares, compared to its average volume of 1,715,522. The company has a fifty day moving average price of $51.44 and a two-hundred day moving average price of $47.57. Fluor Co. has a 12 month low of $35.04 and a 12 month high of $60.10. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $9.48 billion, a P/E ratio of 36.95, a PEG ratio of 4.38 and a beta of 1.90.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate 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 earned $1.02 EPS. The company's revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts expect that Fluor Co. will post 2.62 EPS for the current fiscal year.

Insider Buying and Selling at Fluor

In other news, insider Mark E. Fields sold 50,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 147,045 shares of the company's stock, valued at $8,327,158.35. This represents a 25.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Joseph L. Brennan sold 15,335 shares of Fluor stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the transaction, the chief financial officer now directly owns 57,834 shares in the company, valued at approximately $2,751,163.38. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,261 shares of company stock valued at $4,360,074. Corporate insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on FLR shares. Robert W. Baird increased their target price on shares of Fluor from $46.00 to $54.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. UBS Group increased their price objective on shares of Fluor from $51.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. KeyCorp boosted their target price on shares of Fluor from $57.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. DA Davidson lifted their price objective on Fluor from $58.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Finally, Citigroup upgraded Fluor from a "neutral" rating to a "buy" rating and upped their target price for the company from $52.00 to $65.00 in a research report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.29.

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.