Quest Partners LLC Acquires 14,962 Shares of Fluor Co. (NYSE:FLR)

Quest Partners LLC lifted its holdings in shares of Fluor Co. (NYSE:FLR) by 1,254.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,155 shares of the construction company’s stock after purchasing an additional 14,962 shares during the period. Quest Partners LLC’s holdings in Fluor were worth $771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ORG Partners LLC purchased a new position in Fluor in the second quarter valued at about $34,000. GAMMA Investing LLC grew its holdings in Fluor by 46.4% during the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after purchasing an additional 285 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Fluor by 6,642.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after buying an additional 930 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Fluor during the 2nd quarter valued at $51,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Fluor during the 2nd quarter worth $93,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FLR shares. Truist Financial increased their target price 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. UBS Group lifted their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. Robert W. Baird boosted their price objective on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, KeyCorp raised their target price on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Fluor has a consensus rating of “Moderate Buy” and an average price target of $60.29.

Fluor Price Performance

Fluor stock opened at $54.72 on Friday. The business has a 50-day simple moving average of $50.85 and a 200 day simple moving average of $47.09. Fluor Co. has a 52 week low of $35.04 and a 52 week high of $60.10. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 4.12 and a beta of 1.90. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48.

Fluor (NYSE:FLR) last announced its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share 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 analysts’ expectations of $4.74 billion. During the same period in the prior year, the business earned $1.02 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts forecast that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Joseph L. Brennan sold 15,335 shares of the company’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 transaction, the chief financial officer now directly owns 57,834 shares in the company, valued at approximately $2,751,163.38. This represents a 20.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 31,261 shares of company stock worth $1,528,574. Corporate insiders own 1.70% of the company’s stock.

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.