Jacobs Levy Equity Management Inc. Raises Stock Position in Fluor Co. (NYSE:FLR)

Jacobs Levy Equity Management Inc. boosted its holdings in shares of Fluor Co. (NYSE:FLR - Free Report) by 24.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 973,753 shares of the construction company's stock after buying an additional 193,071 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.57% of Fluor worth $46,458,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. ORG Partners LLC acquired a new position in Fluor in the second quarter worth about $34,000. GAMMA Investing LLC boosted its position in shares of Fluor by 46.4% during the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company's stock worth $39,000 after purchasing an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 worth $41,000 after purchasing an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Fluor during the second quarter worth $51,000. Finally, Quest Partners LLC bought a new position in shares of Fluor during the second quarter worth $52,000. 88.07% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the sale, the insider now owns 147,045 shares of the company's stock, valued at $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joseph L. Brennan sold 4,012 shares of the business's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $50.01, for a total transaction of $200,640.12. Following the completion of the sale, the chief financial officer now directly owns 53,527 shares in the company, 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 worth $4,360,074 over the last three months. 1.70% of the stock is currently owned by insiders.

Fluor Trading Up 1.8 %

Shares of FLR stock traded up $0.96 during trading hours on Wednesday, hitting $55.66. 1,821,281 shares of the company's stock traded hands, compared to its average volume of 1,713,104. Fluor Co. has a 12 month low of $35.04 and a 12 month high of $60.10. The stock's 50 day simple moving average is $52.30 and its 200 day simple moving average is $48.17. The stock has a market cap of $9.55 billion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 4.31 and a beta of 1.89. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48.

Fluor (NYSE:FLR - Get Free Report) last announced its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the business earned $1.02 EPS. Fluor's quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Fluor Co. will post 2.62 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group lifted 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 boosted their price objective on shares of Fluor from $58.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Truist Financial boosted their price objective on shares of Fluor from $61.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Citigroup upgraded shares of 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 report on Tuesday, October 22nd. Finally, KeyCorp increased their price target 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. One investment 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 stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.29.

About Fluor

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.