KBC Group NV Grows Stock Position in Fluor Co. (NYSE:FLR)

KBC Group NV grew its stake in shares of Fluor Co. (NYSE:FLR) by 62.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,399 shares of the construction company’s stock after acquiring an additional 2,855 shares during the quarter. KBC Group NV’s holdings in Fluor were worth $365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FLR. Geode Capital Management LLC increased its stake in Fluor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company’s stock valued at $190,953,000 after purchasing an additional 51,018 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $100,092,000 after buying an additional 457,220 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Fluor by 0.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,004,775 shares of the construction company’s stock worth $95,648,000 after acquiring an additional 9,789 shares during the last quarter. Artemis Investment Management LLP lifted its position in Fluor by 49.1% during the 4th quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock worth $61,792,000 after acquiring an additional 412,312 shares during the period. Finally, Hennessy Advisors Inc. grew its stake in Fluor by 13.1% during the 4th quarter. Hennessy Advisors Inc. now owns 1,040,600 shares of the construction company’s stock valued at $51,322,000 after purchasing an additional 120,800 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FLR shares. Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. KeyCorp lifted their price objective on shares of Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. DA Davidson increased their price objective on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. UBS Group boosted their target price on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup reduced their price objective on Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.29.

Fluor Price Performance

Shares of Fluor stock opened at $48.30 on Monday. The firm has a market cap of $8.28 billion, a PE ratio of 32.20, a P/E/G ratio of 3.40 and a beta of 1.91. The business has a 50-day moving average price of $51.85 and a 200 day moving average price of $50.35. 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 Co. has a twelve month low of $35.04 and a twelve month high of $60.10.

Fluor (NYSE:FLR) last released its quarterly 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 company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. Fluor’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 EPS. Sell-side analysts predict that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the transaction, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Thomas P. D’agostino sold 7,681 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the sale, the insider now directly owns 137,974 shares of the company’s stock, valued at approximately $7,780,353.86. This represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

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.