Sei Investments Co. Buys 62,887 Shares of Fluor Co. (NYSE:FLR)

Sei Investments Co. boosted its stake in shares of Fluor Co. (NYSE:FLR) by 79.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 142,350 shares of the construction company’s stock after purchasing an additional 62,887 shares during the period. Sei Investments Co.’s holdings in Fluor were worth $6,199,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Fluor during the first quarter valued at approximately $28,000. ORG Partners LLC purchased a new position in Fluor during the 2nd quarter worth $34,000. GAMMA Investing LLC raised its position in Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after purchasing an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after buying an additional 930 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Fluor during the second quarter valued at $51,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fluor

In other news, CAO John C. Regan sold 13,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction of $628,030.00. Following the sale, the chief accounting officer now directly owns 55,965 shares of the company’s stock, valued at $2,703,669.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO John C. Regan sold 13,000 shares of Fluor stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total transaction of $628,030.00. Following the completion of the sale, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at $2,703,669.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the transaction, the chief financial officer now owns 57,834 shares in the company, valued at approximately $2,751,163.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,630 shares of company stock worth $1,371,528. 1.70% of the stock is owned by corporate insiders.

Fluor Stock Performance

Shares of FLR opened at $47.71 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51. The firm has a market cap of $8.17 billion, a PE ratio of 27.74, a P/E/G ratio of 2.02 and a beta of 1.91. Fluor Co. has a 12 month low of $32.31 and a 12 month high of $51.64. The stock has a fifty day moving average price of $47.50 and a 200-day moving average price of $44.14.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share 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 analyst estimates of $4.34 billion. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share. Equities research analysts predict that Fluor Co. will post 2.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FLR. Barclays increased their target price on shares of Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Citigroup lifted their price objective on shares of Fluor from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Truist Financial upped their target price on Fluor from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, August 5th. DA Davidson lifted their price target on Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, KeyCorp upgraded Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective for the company in a research note on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Fluor presently has an average rating of “Moderate Buy” and an average target price of $54.00.

About Fluor

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.