MQS Management LLC Acquires New Holdings in Fluor Co. (NYSE:FLR)

MQS Management LLC bought a new position in shares of Fluor Co. (NYSE:FLR) in the 3rd quarter, HoldingsChannel reports. The fund bought 6,063 shares of the construction company’s stock, valued at approximately $289,000.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC boosted its position in shares of Fluor by 143.4% during the 1st quarter. SG Americas Securities LLC now owns 11,297 shares of the construction company’s stock worth $478,000 after purchasing an additional 6,655 shares during the period. Swiss National Bank boosted its position in shares of Fluor by 19.1% during the first quarter. Swiss National Bank now owns 336,400 shares of the construction company’s stock worth $14,223,000 after buying an additional 53,900 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Fluor by 19.8% in the first quarter. Russell Investments Group Ltd. now owns 226,306 shares of the construction company’s stock valued at $9,568,000 after buying an additional 37,435 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Fluor by 4.2% in the 1st quarter. ProShare Advisors LLC now owns 33,955 shares of the construction company’s stock valued at $1,436,000 after buying an additional 1,369 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in Fluor by 12.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 45,644 shares of the construction company’s stock worth $1,930,000 after acquiring an additional 4,910 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fluor

In other news, CFO Joseph L. Brennan sold 15,335 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 owns 57,834 shares in the company, valued at approximately $2,751,163.38. The trade was a 20.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 31,261 shares of company stock valued at $1,528,574 over the last three months. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FLR shares. Barclays lifted their target price on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. KeyCorp lifted their price objective on shares of Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Truist Financial increased their target price on shares of Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. 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 research note on Wednesday, October 23rd. Finally, DA Davidson increased their price objective on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.29.

Fluor Price Performance

Shares of FLR opened at $50.82 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The firm’s fifty day simple moving average is $49.98 and its 200-day simple moving average is $46.65. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 2.32 and a beta of 1.90. Fluor Co. has a twelve month low of $35.04 and a twelve month high of $60.10.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (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 business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the firm earned $1.02 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that Fluor Co. will post 2.61 EPS for the current fiscal year.

Fluor 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.