Point72 Hong Kong Ltd Buys 29,378 Shares of Fluor Co. (NYSE:FLR)

Point72 Hong Kong Ltd increased its position in shares of Fluor Co. (NYSE:FLR - Free Report) by 366.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,399 shares of the construction company's stock after buying an additional 29,378 shares during the period. Point72 Hong Kong Ltd's holdings in Fluor were worth $1,784,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Fluor in the third quarter valued at $8,165,000. Captrust Financial Advisors increased its holdings in shares of Fluor by 1.8% in the third quarter. Captrust Financial Advisors now owns 18,666 shares of the construction company's stock valued at $891,000 after purchasing an additional 329 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Fluor by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 273,517 shares of the construction company's stock valued at $13,049,000 after acquiring an additional 7,242 shares in the last quarter. Brightline Capital Management LLC grew its stake in shares of Fluor by 24.7% in the third quarter. Brightline Capital Management LLC now owns 455,000 shares of the construction company's stock valued at $21,708,000 after acquiring an additional 90,000 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Fluor in the third quarter valued at about $9,542,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Fluor from $51.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. DA Davidson upped their price target on shares of Fluor from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. KeyCorp upped their price objective on shares of Fluor from $57.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Citigroup raised shares of Fluor from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Finally, Truist Financial raised their price objective on shares of Fluor from $61.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.29.

Insider Buying and Selling at Fluor

In other news, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction dated 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 sale, the insider now owns 147,045 shares in the company, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joseph L. Brennan sold 4,012 shares of Fluor stock in a transaction dated Friday, October 4th. The shares were 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 of the company's stock, valued at approximately $2,676,885.27. This trade represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,261 shares of company stock valued at $4,360,074 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Fluor Stock Performance

Shares of NYSE FLR traded down $0.46 during mid-day trading on Monday, reaching $55.67. 339,796 shares of the company's stock were exchanged, compared to its average volume of 1,707,078. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 37.40, a price-to-earnings-growth ratio of 4.39 and a beta of 1.90. Fluor Co. has a 52 week low of $35.04 and a 52 week high of $60.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a 50-day moving average price of $51.96 and a two-hundred day moving average price of $47.93.

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). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The firm had revenue of $4.09 billion during the quarter, compared to analysts' expectations of $4.74 billion. During the same period last year, the business posted $1.02 EPS. The company's revenue was up 3.3% compared to the same quarter last year. Analysts predict that Fluor Co. will post 2.62 EPS for the current year.

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.