Fluor Co. (NYSE:FLR) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its stake in shares of Fluor Co. (NYSE:FLR) by 24.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 973,753 shares of the construction company’s stock after purchasing an additional 193,071 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Fluor were worth $46,458,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FLR. HighTower Advisors LLC lifted its position in Fluor by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 33,922 shares of the construction company’s stock worth $1,618,000 after acquiring an additional 1,324 shares in the last quarter. Centiva Capital LP acquired a new position in shares of Fluor during the third quarter worth $426,000. ClearAlpha Technologies LP purchased a new position in shares of Fluor in the third quarter valued at $249,000. Benjamin Edwards Inc. acquired a new stake in Fluor during the 3rd quarter valued at $1,161,000. Finally, Atom Investors LP purchased a new stake in Fluor during the 3rd quarter worth $3,746,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Buying and Selling

In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 53,527 shares of the company’s stock, valued at $2,676,885.27. The trade was a 6.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the sale, the insider now owns 147,045 shares in the company, valued at $8,327,158.35. The trade was a 25.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 81,261 shares of company stock worth $4,360,074 in the last three months. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FLR. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and raised their target price for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. UBS Group lifted their price objective on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. KeyCorp upped their target price on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. DA Davidson raised their price target 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. Finally, Truist Financial upped 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.29.

Fluor Stock Down 0.8 %

FLR stock opened at $54.70 on Wednesday. The firm has a fifty day moving average price of $52.13 and a two-hundred day moving average price of $48.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. Fluor Co. has a 1-year low of $35.04 and a 1-year high of $60.10. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of 36.46, a PEG ratio of 4.31 and a beta of 1.89.

Fluor (NYSE:FLR) last issued its 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). The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 EPS. Research analysts predict that Fluor Co. will post 2.62 EPS for the current year.

About Fluor

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.