The Manufacturers Life Insurance Company Decreases Stock Holdings in Fluor Co. (NYSE:FLR)

The Manufacturers Life Insurance Company cut its stake in shares of Fluor Co. (NYSE:FLR) by 3.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 198,886 shares of the construction company’s stock after selling 7,174 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Fluor were worth $9,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Partners LLC bought a new stake in Fluor during the second quarter valued at approximately $34,000. GAMMA Investing LLC lifted its position in shares of Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after buying an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after acquiring an additional 930 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Fluor in the 2nd quarter worth approximately $51,000. Finally, Quest Partners LLC bought a new position in Fluor in the 2nd quarter worth $52,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Fluor Stock Down 0.8 %

Shares of NYSE FLR opened at $54.70 on Wednesday. The company has a market cap of $9.38 billion, a P/E ratio of 36.47, a PEG ratio of 4.31 and a beta of 1.89. The firm has a 50-day simple moving average of $52.13 and a two-hundred day simple moving average of $48.05. 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.

Fluor (NYSE:FLR) last posted its quarterly earnings data 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). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the firm earned $1.02 EPS. Fluor’s revenue was up 3.3% compared to the same quarter last year. Research analysts anticipate that Fluor Co. will post 2.62 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Transactions at Fluor

In other news, insider Mark E. Fields sold 50,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the transaction, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This represents a 25.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the sale, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at approximately $2,107,972.40. This trade represents a 21.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,261 shares of company stock worth $4,360,074. Insiders own 1.70% of the company’s stock.

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.