Quest Partners LLC Buys 14,962 Shares of Fluor Co. (NYSE:FLR)

Quest Partners LLC lifted its stake in shares of Fluor Co. (NYSE:FLR - Free Report) by 1,254.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,155 shares of the construction company's stock after acquiring an additional 14,962 shares during the quarter. Quest Partners LLC's holdings in Fluor were worth $771,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FLR. Hood River Capital Management LLC acquired a new position in Fluor in the second quarter worth approximately $47,559,000. Rubric Capital Management LP grew its position 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 buying an additional 614,521 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Fluor by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company's stock worth $110,930,000 after buying an additional 323,111 shares during the last quarter. Great Lakes Advisors LLC grew its position in Fluor by 2,441.9% in the second quarter. Great Lakes Advisors LLC now owns 282,655 shares of the construction company's stock worth $12,310,000 after buying an additional 271,535 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Fluor by 42.1% in the third quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company's stock worth $41,077,000 after buying an additional 254,904 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Insider Buying and Selling

In related news, CFO Joseph L. Brennan sold 15,335 shares of Fluor stock in a transaction on Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the transaction, the chief financial officer now owns 57,834 shares in the company, valued at $2,751,163.38. This trade represents a 20.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have 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 %

Shares of Fluor stock traded up $1.07 during midday trading on Friday, reaching $55.79. 2,650,404 shares of the company's stock traded hands, compared to its average volume of 1,712,751. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 37.19, a price-to-earnings-growth ratio of 4.12 and a beta of 1.90. The company's 50 day simple moving average is $51.05 and its 200 day simple moving average is $47.21. 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 52 week low of $35.04 and a 52 week high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly 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). The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 EPS. Equities analysts expect that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on FLR shares. KeyCorp raised their price objective on shares of Fluor from $57.00 to $64.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Citigroup raised shares of Fluor from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. DA Davidson raised their price objective on shares of Fluor from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Robert W. Baird lifted their target price on shares of Fluor from $46.00 to $54.00 and gave the company an "outperform" rating in a research note on Monday, August 5th. Finally, UBS Group lifted their target price 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently 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.