Fluor Co. (NYSE:FLR) Stock Position Boosted by Rubric Capital Management LP

Rubric Capital Management LP increased its holdings in shares of Fluor Co. (NYSE:FLR) by 23.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,214,521 shares of the construction company’s stock after purchasing an additional 614,521 shares during the quarter. Fluor comprises about 3.7% of Rubric Capital Management LP’s investment portfolio, making the stock its 6th biggest holding. Rubric Capital Management LP’s holdings in Fluor were worth $139,992,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new stake in Fluor during the first quarter worth about $28,000. ORG Partners LLC purchased a new position in Fluor in the second quarter valued at about $34,000. GAMMA Investing LLC boosted its holdings in Fluor by 46.4% in the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after purchasing an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Fluor by 6,642.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after purchasing an additional 930 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Fluor in the second quarter valued at about $51,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on FLR shares. Truist Financial increased their price target on Fluor from $54.00 to $61.00 and gave the company a “buy” rating in a report on Monday, August 5th. Robert W. Baird increased their target price on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. DA Davidson increased their target price on Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Citigroup increased their target price on Fluor from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, KeyCorp raised Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price on the stock in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Fluor Stock Down 0.5 %

Shares of FLR stock opened at $47.23 on Friday. Fluor Co. has a 1 year low of $32.31 and a 1 year high of $51.64. The stock has a market cap of $8.09 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 1.91 and a beta of 1.91. The business’s fifty day moving average is $47.70 and its 200-day moving average is $43.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.77 and a current ratio of 1.77.

Fluor (NYSE:FLR) last issued its earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. Equities analysts expect that Fluor Co. will post 2.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO John C. Regan sold 13,000 shares of Fluor stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total value of $628,030.00. Following the transaction, the chief accounting officer now directly owns 55,965 shares in the company, valued at approximately $2,703,669.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.