Mengis Capital Management Inc. Purchases New Shares in Fluor Co. (NYSE:FLR)

Mengis Capital Management Inc. acquired a new position in shares of Fluor Co. (NYSE:FLR) in the 4th quarter, Holdings Channel.com reports. The firm acquired 30,623 shares of the construction company’s stock, valued at approximately $1,510,000.

Several other institutional investors and hedge funds have also bought and sold shares of FLR. Creative Planning lifted its position in Fluor by 35.5% during the third quarter. Creative Planning now owns 42,001 shares of the construction company’s stock worth $2,004,000 after purchasing an additional 11,014 shares during the period. Raymond James & Associates lifted its position in Fluor by 9.4% during the third quarter. Raymond James & Associates now owns 96,025 shares of the construction company’s stock worth $4,581,000 after purchasing an additional 8,232 shares during the period. Mount Yale Investment Advisors LLC bought a new stake in Fluor during the third quarter worth about $300,000. Highland Capital Management LLC bought a new stake in Fluor during the third quarter worth about $208,000. Finally, Allworth Financial LP lifted its position in Fluor by 676.7% during the third quarter. Allworth Financial LP now owns 6,128 shares of the construction company’s stock worth $292,000 after purchasing an additional 5,339 shares during the period. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Down 1.6 %

NYSE:FLR opened at $37.12 on Tuesday. The firm’s 50 day simple moving average is $48.31 and its 200 day simple moving average is $49.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77. Fluor Co. has a one year low of $35.21 and a one year high of $60.10. The company has a market cap of $6.27 billion, a PE ratio of 3.05, a P/E/G ratio of 1.36 and a beta of 1.89.

Fluor (NYSE:FLR) last posted its earnings results on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a return on equity of 15.14% and a net margin of 13.14%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.42 billion. On average, research analysts anticipate that Fluor Co. will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In other Fluor news, insider Thomas P. D’agostino sold 7,681 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the completion of the transaction, the insider now owns 137,974 shares in the company, valued at approximately $7,780,353.86. This trade represents a 5.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FLR shares. DA Davidson dropped their target price on shares of Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. KeyCorp increased their target price on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Robert W. Baird dropped their target price on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Truist Financial dropped their target price on shares of Fluor from $65.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com raised shares of Fluor from a “hold” rating to a “buy” rating in a report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.43.

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.