45,402 Shares in Fluor Co. (NYSE:FLR) Bought by Neo Ivy Capital Management

Neo Ivy Capital Management purchased a new position in Fluor Co. (NYSE:FLR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 45,402 shares of the construction company’s stock, valued at approximately $2,166,000.

A number of other institutional investors also recently bought and sold shares of FLR. Hood River Capital Management LLC bought a new stake in Fluor in the second quarter worth $47,559,000. Westfield Capital Management Co. LP bought a new stake in shares of Fluor during the third quarter worth $39,289,000. Rubric Capital Management LP lifted its position in shares of Fluor by 23.6% during the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock worth $139,992,000 after purchasing an additional 614,521 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fluor by 27.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after purchasing an additional 457,220 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Fluor by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock worth $110,930,000 after purchasing an additional 323,111 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Fluor Price Performance

FLR opened at $55.20 on Wednesday. The business’s 50-day moving average is $53.15 and its two-hundred day moving average is $48.70. Fluor Co. has a 1 year low of $35.04 and a 1 year high of $60.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market capitalization of $9.47 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 4.36 and a beta of 1.89.

Fluor (NYSE:FLR) last posted its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $4.74 billion. During the same quarter last year, the firm earned $1.02 EPS. Fluor’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts anticipate that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FLR. Truist Financial lifted their target price on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. UBS Group lifted their target price on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson raised their price target on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, KeyCorp raised their price target on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Fluor currently has a consensus rating of “Moderate Buy” and an average target price of $60.29.

Insider Buying and Selling at Fluor

In other Fluor news, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $47.57, for a total value of $729,485.95. Following the completion of the sale, the chief financial officer now directly owns 57,834 shares of the company’s stock, valued at approximately $2,751,163.38. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,942 shares of company stock worth $4,793,206 over the last quarter. Insiders own 1.70% of the company’s stock.

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.