Intech Investment Management LLC Raises Stake in Fluor Co. (NYSE:FLR)

Intech Investment Management LLC lifted its position in shares of Fluor Co. (NYSE:FLR - Free Report) by 192.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,505 shares of the construction company's stock after purchasing an additional 45,706 shares during the period. Intech Investment Management LLC's holdings in Fluor were worth $3,316,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Fluor

In other news, CFO Joseph L. Brennan sold 4,012 shares of the company's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $50.01, for a total transaction of $200,640.12. Following the transaction, the chief financial officer now owns 53,527 shares of the company's stock, valued at $2,676,885.27. This represents a 6.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 31,261 shares of company stock worth $1,528,574 in the last quarter. 1.70% of the stock is currently owned by company insiders.

Fluor Stock Up 2.0 %

Fluor stock traded up $1.07 during trading on Friday, hitting $55.79. 2,718,132 shares of the company were exchanged, compared to its average volume of 3,207,048. The business's 50 day moving average is $51.05 and its 200 day moving average is $47.33. Fluor Co. has a 52 week low of $35.04 and a 52 week high of $60.10. The company has a market capitalization of $9.57 billion, a P/E ratio of 37.19, a PEG ratio of 4.28 and a beta of 1.90. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) 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 company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the company posted $1.02 EPS. The company's quarterly revenue was up 3.3% compared to the same quarter last year. Analysts predict that Fluor Co. will post 2.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. DA Davidson lifted their price objective on Fluor from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. UBS Group boosted their price target on Fluor from $51.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Truist Financial boosted their price target on Fluor from $61.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Robert W. Baird boosted their price target on Fluor from $46.00 to $54.00 and gave the company an "outperform" rating in a research note on Monday, August 5th. Finally, Citigroup raised Fluor from a "neutral" rating to a "buy" rating and boosted their price target for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.