MQS Management LLC Buys New Stake in Fluor Co. (NYSE:FLR)

MQS Management LLC acquired a new stake in shares of Fluor Co. (NYSE:FLR) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,063 shares of the construction company’s stock, valued at approximately $289,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Janus Henderson Group PLC raised its position in Fluor by 20.3% during the first quarter. Janus Henderson Group PLC now owns 78,374 shares of the construction company’s stock valued at $3,311,000 after acquiring an additional 13,203 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Fluor by 230.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 59,403 shares of the construction company’s stock worth $2,587,000 after purchasing an additional 41,428 shares during the period. Swiss National Bank increased its holdings in shares of Fluor by 19.1% during the 1st quarter. Swiss National Bank now owns 336,400 shares of the construction company’s stock valued at $14,223,000 after purchasing an additional 53,900 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Fluor by 63.8% in the 2nd quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock valued at $24,771,000 after purchasing an additional 222,070 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Fluor by 19.8% during the first quarter. Russell Investments Group Ltd. now owns 226,306 shares of the construction company’s stock worth $9,568,000 after buying an additional 37,435 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

FLR has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Truist Financial increased their price target on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. DA Davidson increased their target price on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group boosted their price target on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, 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 report on Monday, August 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.29.

Insider Activity at Fluor

In other news, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the sale, the chief financial officer now owns 53,527 shares of the company’s stock, valued at $2,676,885.27. This represents a 6.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 31,261 shares of company stock valued at $1,528,574. 1.70% of the stock is owned by company insiders.

Fluor Stock Up 1.0 %

FLR stock opened at $50.82 on Friday. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 2.32 and a beta of 1.90. The firm has a 50-day moving average of $49.98 and a two-hundred day moving average of $46.65. Fluor Co. has a 12 month low of $35.04 and a 12 month high of $60.10. 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 announced its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 EPS 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 company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business posted $1.02 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts forecast that Fluor Co. will post 2.61 earnings per share for the current fiscal 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.