Highland Capital Management LLC Buys New Shares in Fluor Co. (NYSE:FLR)

Highland Capital Management LLC bought a new stake in Fluor Co. (NYSE:FLR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,365 shares of the construction company’s stock, valued at approximately $208,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC acquired a new stake in Fluor during the first quarter worth about $374,000. LVW Advisors LLC acquired a new stake in Fluor during the first quarter worth about $211,000. Diversified Trust Co acquired a new stake in Fluor during the first quarter worth about $1,368,000. State of Michigan Retirement System increased its stake in Fluor by 2.2% during the first quarter. State of Michigan Retirement System now owns 41,797 shares of the construction company’s stock worth $1,767,000 after acquiring an additional 900 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in Fluor by 0.3% during the first quarter. Retirement Systems of Alabama now owns 213,948 shares of the construction company’s stock worth $9,046,000 after acquiring an additional 562 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Trading Down 0.2 %

Shares of FLR opened at $52.28 on Monday. The company has a market capitalization of $8.96 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.32 and a beta of 1.91. Fluor Co. has a one year low of $32.31 and a one year high of $55.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a 50-day moving average price of $48.83 and a 200 day moving average price of $45.50.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.17. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the business posted $0.76 earnings per share. Fluor’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts forecast that Fluor Co. will post 2.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FLR. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. KeyCorp raised Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price for the company in a research report on Wednesday, July 17th. UBS Group upped 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. Barclays upped their target price on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Finally, Robert W. Baird upped their target price on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.29.

Insiders Place Their Bets

In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the transaction, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the transaction, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the transaction, the chief financial officer now directly owns 53,527 shares in the company, valued at approximately $2,676,885.27. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,261 shares of company stock valued at $2,156,604 in the last quarter. 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.