Fluor Co. (NYSE:FLR) Shares Sold by Millrace Asset Group Inc.

Millrace Asset Group Inc. trimmed its position in Fluor Co. (NYSE:FLR) by 10.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,904 shares of the construction company’s stock after selling 5,047 shares during the period. Fluor comprises about 2.0% of Millrace Asset Group Inc.’s investment portfolio, making the stock its 17th largest position. Millrace Asset Group Inc.’s holdings in Fluor were worth $1,999,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Hood River Capital Management LLC acquired a new position in Fluor in the 2nd quarter valued at $47,559,000. Westfield Capital Management Co. LP acquired a new stake in Fluor in the 3rd quarter worth about $39,289,000. Rubric Capital Management LP grew its holdings in Fluor by 23.6% in the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after buying an additional 614,521 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Fluor by 27.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after acquiring an additional 457,220 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Fluor by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock worth $110,930,000 after acquiring an additional 323,111 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on FLR shares. Robert W. Baird lifted their price target on shares of Fluor from $46.00 to $54.00 and gave the company 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 company an “overweight” rating in a research note on Thursday, November 7th. DA Davidson increased their target price on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. UBS Group lifted their price target on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial increased their price objective on shares of Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.29.

Fluor Stock Performance

Fluor stock opened at $56.04 on Tuesday. The stock has a market cap of $9.61 billion, a P/E ratio of 37.36, a price-to-earnings-growth ratio of 4.36 and a beta of 1.90. The stock has a 50 day moving average of $51.24 and a 200-day moving average of $47.45. 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 52 week low of $35.04 and a 52 week high of $60.10.

Fluor (NYSE:FLR) last posted its quarterly earnings results 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 firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the business posted $1.02 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts expect that Fluor Co. will post 2.62 EPS for the current fiscal year.

Insider Buying and Selling at Fluor

In other news, CFO Joseph L. Brennan sold 4,012 shares of Fluor stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $50.01, for a total transaction of $200,640.12. Following the sale, the chief financial officer now owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. The trade was a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark E. Fields sold 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of the transaction, the insider now directly owns 147,045 shares of the company’s stock, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,261 shares of company stock worth $4,360,074 over the last 90 days. Insiders own 1.70% of the company’s stock.

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.