Highland Capital Management LLC Invests $208,000 in Fluor Co. (NYSE:FLR)

Highland Capital Management LLC purchased a new position in shares of Fluor Co. (NYSE:FLR) during the third quarter, Holdings Channel.com reports. The fund purchased 4,365 shares of the construction company’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Diversified Trust Co acquired a new stake in Fluor in the 1st quarter valued at approximately $1,368,000. Janus Henderson Group PLC increased its position in Fluor by 20.3% in the 1st 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 during the period. Harbor Capital Advisors Inc. increased its position in Fluor by 230.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 59,403 shares of the construction company’s stock valued at $2,587,000 after acquiring an additional 41,428 shares during the period. Swiss National Bank increased its position in Fluor by 19.1% in the 1st quarter. Swiss National Bank now owns 336,400 shares of the construction company’s stock valued at $14,223,000 after acquiring an additional 53,900 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Fluor by 7.9% in the 1st quarter. BNP Paribas Financial Markets now owns 739,254 shares of the construction company’s stock valued at $31,256,000 after acquiring an additional 54,228 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fluor

In other news, CAO John C. Regan sold 13,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total value of $628,030.00. Following the completion of the sale, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at $2,703,669.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the sale, the chief financial officer now directly owns 57,834 shares in the company, valued at approximately $2,751,163.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John C. Regan sold 13,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total value of $628,030.00. Following the sale, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at approximately $2,703,669.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,261 shares of company stock valued at $2,156,604 over the last quarter. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

FLR has been the topic of several analyst reports. UBS Group raised their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. KeyCorp raised Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target for the company in a research note on Wednesday, July 17th. Truist Financial increased their price target on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. DA Davidson increased their price target on Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Citigroup raised Fluor from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fluor currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.29.

Fluor Stock Performance

FLR opened at $52.28 on Monday. The firm has a market cap of $8.96 billion, a PE ratio of 22.34, a P/E/G ratio of 2.32 and a beta of 1.91. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $48.83 and a 200-day simple moving average of $45.50. Fluor Co. has a fifty-two week low of $32.31 and a fifty-two week high of $55.86.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.17. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.34 billion. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.76 EPS. As a group, equities analysts predict that Fluor Co. will post 2.88 EPS for the current fiscal year.

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.