GAMMA Investing LLC Raises Stock Position in Fluor Co. (NYSE:FLR)

GAMMA Investing LLC raised its stake in shares of Fluor Co. (NYSE:FLR) by 2,695.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,760 shares of the construction company’s stock after purchasing an additional 61,479 shares during the period. GAMMA Investing LLC’s holdings in Fluor were worth $2,284,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CIBC Asset Management Inc boosted its holdings in shares of Fluor by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company’s stock valued at $256,000 after purchasing an additional 264 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Fluor by 43.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after purchasing an additional 287 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Fluor by 0.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,954 shares of the construction company’s stock valued at $1,724,000 after acquiring an additional 300 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Fluor by 196.2% in the 4th quarter. Sterling Capital Management LLC now owns 616 shares of the construction company’s stock valued at $30,000 after acquiring an additional 408 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Fluor by 0.8% in the 4th quarter. Arizona State Retirement System now owns 49,711 shares of the construction company’s stock valued at $2,452,000 after acquiring an additional 418 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

Fluor stock opened at $48.21 on Friday. The company has a 50 day moving average price of $38.16 and a 200-day moving average price of $42.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. Fluor Co. has a fifty-two week low of $29.20 and a fifty-two week high of $60.10. The company has a market capitalization of $7.94 billion, a PE ratio of 3.96, a P/E/G ratio of 1.36 and a beta of 1.30.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.23. Fluor had a net margin of 13.14% and a return on equity of 15.14%. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts forecast that Fluor Co. will post 2.5 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman David E. Constable sold 40,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $49.00, for a total value of $1,999,200.00. Following the completion of the transaction, the chairman now owns 870,627 shares of the company’s stock, valued at $42,660,723. The trade was a 4.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alvin C. Collins III sold 18,920 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $45.43, for a total transaction of $859,535.60. Following the completion of the transaction, the insider now directly owns 64,383 shares of the company’s stock, valued at $2,924,919.69. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FLR has been the subject of a number of analyst reports. Robert W. Baird set a $41.00 price target on shares of Fluor in a report on Monday, May 5th. UBS Group lowered their price target on shares of Fluor from $49.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Truist Financial increased their price target on shares of Fluor from $45.00 to $47.00 and gave the company a “buy” rating in a report on Monday, May 5th. KeyCorp decreased their price objective on shares of Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, April 4th. Finally, Citigroup decreased their price objective on shares of Fluor from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Fluor has an average rating of “Moderate Buy” and a consensus price target of $45.43.

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.