Rockefeller Capital Management L.P. Trims Stock Holdings in Fluor Co. (NYSE:FLR)

Rockefeller Capital Management L.P. lowered its holdings in shares of Fluor Co. (NYSE:FLR) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,398 shares of the construction company’s stock after selling 9,114 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Fluor were worth $3,740,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. CIBC Asset Management Inc boosted its stake in shares of Fluor by 3.7% during the third quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock valued at $235,000 after purchasing an additional 176 shares during the period. Seelaus Asset Management LLC boosted its position in Fluor by 3.7% in the 3rd quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock valued at $307,000 after buying an additional 230 shares during the period. ClariVest Asset Management LLC grew its stake in Fluor by 0.3% in the 2nd quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock worth $3,379,000 after acquiring an additional 233 shares in the last quarter. Xponance Inc. increased its position in shares of Fluor by 1.2% during the second quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock worth $1,006,000 after acquiring an additional 265 shares during the period. Finally, JGP Wealth Management LLC boosted its holdings in shares of Fluor by 5.6% in the third quarter. JGP Wealth Management LLC now owns 5,313 shares of the construction company’s stock valued at $253,000 after purchasing an additional 283 shares during the period. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Down 0.1 %

Shares of Fluor stock opened at $55.97 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. The company has a market cap of $9.60 billion, a P/E ratio of 37.38, a PEG ratio of 4.27 and a beta of 1.89. The firm’s 50 day moving average price is $52.50 and its 200-day moving average price is $48.22. Fluor Co. has a 52-week low of $35.04 and a 52-week high of $60.10.

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

Analyst Ratings Changes

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

Insider Buying and Selling at Fluor

In other news, CFO Joseph L. Brennan sold 11,619 shares of Fluor stock in a transaction on Monday, October 7th. The shares were 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 in the company, valued at approximately $2,107,972.40. The trade was a 21.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the sale, the insider now directly owns 147,045 shares in the company, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,261 shares of company stock worth $4,360,074. 1.70% of the stock is owned by 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.