Brightline Capital Management LLC Boosts Stock Position in Fluor Co. (NYSE:FLR)

Brightline Capital Management LLC grew its stake in shares of Fluor Co. (NYSE:FLR) by 24.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 455,000 shares of the construction company’s stock after acquiring an additional 90,000 shares during the period. Fluor accounts for 9.2% of Brightline Capital Management LLC’s holdings, making the stock its largest position. Brightline Capital Management LLC owned about 0.27% of Fluor worth $21,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC bought a new position in Fluor during the second quarter worth about $34,000. GAMMA Investing LLC boosted its stake in shares of Fluor by 46.4% in the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after buying an additional 285 shares during the period. Allspring Global Investments Holdings LLC grew its position in Fluor by 6,642.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after buying an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Fluor during the 2nd quarter worth $51,000. Finally, Quest Partners LLC acquired a new position in Fluor in the 2nd quarter valued at $52,000. 88.07% of the stock is currently owned by institutional investors.

Insider Transactions at Fluor

In other Fluor news, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the transaction, the insider now directly owns 147,045 shares in the company, valued at $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joseph L. Brennan sold 4,012 shares of the firm’s 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 position. The disclosure for this sale can be found here. Insiders sold a total of 81,261 shares of company stock valued at $4,360,074 over the last ninety days. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FLR. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. DA Davidson boosted their target price on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. 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. Truist Financial increased their price objective on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, UBS Group upped 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. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.29.

Fluor Trading Up 1.3 %

Shares of NYSE:FLR traded up $0.71 during mid-day trading on Wednesday, reaching $56.64. 103,634 shares of the company’s stock were exchanged, compared to its average volume of 1,708,894. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. Fluor Co. has a twelve month low of $35.04 and a twelve month high of $60.10. The firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 4.38 and a beta of 1.90. The business’s fifty day moving average price is $51.24 and its 200-day moving average price is $47.45.

Fluor (NYSE:FLR) last released 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 net margin of 1.64% and a return on equity of 20.05%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 EPS. On average, research analysts predict that Fluor Co. will post 2.62 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.