Point72 DIFC Ltd Takes Position in Fluor Co. (NYSE:FLR)

Point72 DIFC Ltd bought a new stake in shares of Fluor Co. (NYSE:FLR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,640 shares of the construction company's stock, valued at approximately $508,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hood River Capital Management LLC purchased a new position in shares of Fluor during the 2nd quarter worth approximately $47,559,000. Westfield Capital Management Co. LP purchased a new stake in Fluor in the third quarter worth $39,289,000. Rubric Capital Management LP raised its holdings in Fluor by 23.6% in the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company's stock worth $139,992,000 after purchasing an additional 614,521 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Fluor by 27.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company's stock valued at $100,092,000 after buying an additional 457,220 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Fluor by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company's stock valued at $110,930,000 after buying an additional 323,111 shares in the last quarter. Institutional investors own 88.07% of the company's stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Fluor news, insider Mark E. Fields sold 50,000 shares of the business's 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 of the company's stock, valued at approximately $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 accessible through the SEC website. Also, insider Thomas P. D'agostino sold 7,681 shares of the company's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $56.39, for a total value of $433,131.59. Following the completion of the sale, the insider now owns 137,974 shares of the company's stock, valued at approximately $7,780,353.86. The trade was a 5.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,942 shares of company stock valued at $4,793,206. Company insiders own 1.70% of the company's stock.

Fluor Stock Performance

Shares of NYSE:FLR traded down $0.18 during midday trading on Friday, reaching $55.79. 1,419,380 shares of the company's stock traded hands, compared to its average volume of 2,994,355. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. Fluor Co. has a one year low of $35.04 and a one year high of $60.10. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 37.19, a P/E/G ratio of 4.38 and a beta of 1.89. The stock has a 50 day moving average of $52.83 and a 200 day moving average of $48.39.

Fluor (NYSE:FLR - Get Free Report) last posted its 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 net margin of 1.64% and a return on equity of 20.05%. The company 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 company posted $1.02 EPS. Fluor's revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that Fluor Co. will post 2.62 EPS for the current fiscal year.

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.