Los Angeles Capital Management LLC Acquires 9,992 Shares of Fluor Co. (NYSE:FLR)

Los Angeles Capital Management LLC lifted its holdings in Fluor Co. (NYSE:FLR) by 139.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 17,174 shares of the construction company’s stock after acquiring an additional 9,992 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Fluor were worth $819,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Fluor by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 17,112,278 shares of the construction company’s stock worth $723,507,000 after purchasing an additional 51,322 shares during the period. Rubric Capital Management LP grew its holdings in shares of 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 during the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 during the last quarter. Hood River Capital Management LLC purchased a new stake in Fluor during the 2nd quarter valued at $47,559,000. Finally, King Luther Capital Management Corp grew its holdings in Fluor by 1.8% in the 2nd quarter. King Luther Capital Management Corp now owns 1,052,106 shares of the construction company’s stock worth $45,819,000 after acquiring an additional 18,535 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Activity at Fluor

In related news, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $50.01, for a total transaction of $200,640.12. Following the sale, the chief financial officer now directly owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. This represents a 6.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 31,261 shares of company stock valued at $1,528,574 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Fluor Stock Performance

Shares of Fluor stock opened at $51.93 on Friday. The business has a fifty day simple moving average of $50.14 and a two-hundred day simple moving average of $46.73. The firm has a market capitalization of $8.91 billion, a P/E ratio of 34.62, a P/E/G ratio of 3.93 and a beta of 1.90. 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 Co. has a 12 month low of $35.04 and a 12 month high of $60.10.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.25). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm earned $1.02 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Robert W. Baird increased their target price on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. KeyCorp lifted their price objective on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and upped their target price for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. Truist Financial lifted their price target on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, UBS Group upped their price objective on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One investment 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.29.

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.