Algert Global LLC Grows Stock Holdings in Fluor Co. (NYSE:FLR)

Algert Global LLC boosted its holdings in Fluor Co. (NYSE:FLR - Free Report) by 182.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,140 shares of the construction company's stock after acquiring an additional 11,080 shares during the quarter. Algert Global LLC's holdings in Fluor were worth $746,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Fluor in the 1st quarter worth $28,000. ORG Partners LLC purchased a new stake in Fluor in the 2nd quarter valued at about $34,000. GAMMA Investing LLC boosted its stake in shares of Fluor by 46.4% in the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company's stock worth $39,000 after buying an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 valued at $41,000 after acquiring an additional 930 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Fluor in the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Fluor Price Performance

Shares of NYSE FLR opened at $49.97 on Friday. The stock has a fifty day simple moving average of $47.52 and a two-hundred day simple moving average of $44.32. Fluor Co. has a 1-year low of $32.31 and a 1-year high of $51.64. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 2.02 and a beta of 1.91. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51.

Fluor (NYSE:FLR - Get Free Report) last posted its earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.17. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.34 billion. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 earnings per share. Analysts anticipate that Fluor Co. will post 2.88 earnings per share for the current year.

Insiders Place Their Bets

In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the 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 sale, the chief financial officer now owns 57,834 shares in the company, valued at $2,751,163.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO John C. Regan sold 13,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total value of $628,030.00. Following the sale, the chief accounting officer now owns 55,965 shares in the company, valued at approximately $2,703,669.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $47.57, for a total value of $729,485.95. Following the completion of the sale, the chief financial officer now owns 57,834 shares in the company, valued at $2,751,163.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,630 shares of company stock worth $1,371,528 over the last 90 days. Corporate insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FLR. Citigroup upped their target price on Fluor from $47.00 to $52.00 and gave the company a "neutral" rating in a report on Monday, July 22nd. DA Davidson upped their target price on Fluor from $50.00 to $58.00 and gave the company a "buy" rating in a report on Monday, August 5th. Truist Financial upped their target price on Fluor from $54.00 to $61.00 and gave the company a "buy" rating in a report on Monday, August 5th. Robert W. Baird upped their target price on Fluor from $46.00 to $54.00 and gave the company an "outperform" rating in a report on Monday, August 5th. Finally, KeyCorp raised Fluor from a "sector weight" rating to an "overweight" rating and set a $57.00 target price for the company in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.

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.