Fluor Co. (NYSE:FLR) Position Increased by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Fluor Co. (NYSE:FLR) by 1.3% during the third quarter, HoldingsChannel.com reports. The firm owned 4,001,622 shares of the construction company’s stock after buying an additional 51,018 shares during the quarter. Geode Capital Management LLC’s holdings in Fluor were worth $190,953,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in shares of Fluor by 4.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,477 shares of the construction company’s stock valued at $456,000 after buying an additional 429 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Fluor by 2.0% during the 2nd quarter. New York State Teachers Retirement System now owns 174,331 shares of the construction company’s stock worth $7,592,000 after purchasing an additional 3,461 shares during the last quarter. Moody Lynn & Lieberson LLC bought a new position in shares of Fluor during the 2nd quarter valued at $2,315,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Fluor by 6,642.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after purchasing an additional 930 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Fluor by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,505 shares of the construction company’s stock worth $1,285,000 after purchasing an additional 2,753 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fluor

In other Fluor news, insider Thomas P. D’agostino sold 7,681 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the sale, the insider now owns 137,974 shares of the company’s stock, valued at $7,780,353.86. The trade was a 5.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the transaction, the chief financial officer now directly owns 57,834 shares of the company’s stock, valued at $2,751,163.38. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,942 shares of company stock valued at $4,793,206 in the last quarter. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

FLR has been the topic of several recent research reports. Truist Financial raised their target price on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. KeyCorp upped their target price on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. UBS Group boosted their price objective on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, DA Davidson raised their target price on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Fluor currently has an average rating of “Moderate Buy” and a consensus price target of $60.29.

Fluor Trading Down 1.4 %

Shares of Fluor stock opened at $54.64 on Monday. Fluor Co. has a 1 year low of $35.04 and a 1 year high of $60.10. The company’s fifty day simple moving average is $53.54 and its 200-day simple moving average is $48.98. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 36.43, a PEG ratio of 4.36 and a beta of 1.89. 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) last posted 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). The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 earnings per share. As a group, sell-side analysts expect that Fluor Co. will post 2.62 EPS for the current year.

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.