Creative Planning Raises Holdings in Fluor Co. (NYSE:FLR)

Creative Planning raised its holdings in Fluor Co. (NYSE:FLR) by 35.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,001 shares of the construction company’s stock after purchasing an additional 11,014 shares during the quarter. Creative Planning’s holdings in Fluor were worth $2,004,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FLR. Hood River Capital Management LLC purchased a new position in shares of Fluor during the second quarter worth $47,559,000. Rubric Capital Management LP grew its position in Fluor by 23.6% in the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after acquiring an additional 614,521 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Fluor by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock valued at $110,930,000 after purchasing an additional 323,111 shares during the period. Great Lakes Advisors LLC increased its stake in Fluor by 2,441.9% during the 2nd quarter. Great Lakes Advisors LLC now owns 282,655 shares of the construction company’s stock worth $12,310,000 after buying an additional 271,535 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Fluor by 63.8% during the 2nd quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock worth $24,771,000 after buying an additional 222,070 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the company’s stock in a transaction on Friday, September 20th. The shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $50.01, for a total transaction of $200,640.12. Following the sale, the chief financial officer now directly owns 53,527 shares in the company, valued at approximately $2,676,885.27. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction dated Friday, September 20th. The shares were 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 of the company’s stock, valued at $2,751,163.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,261 shares of company stock valued at $2,156,604. 1.70% of the stock is owned by company insiders.

Fluor Stock Performance

Shares of FLR opened at $53.62 on Tuesday. The company’s 50 day simple moving average is $48.93 and its 200-day simple moving average is $45.58. Fluor Co. has a 12-month low of $32.31 and a 12-month high of $55.86. The firm has a market cap of $9.18 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 2.32 and a beta of 1.91. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51.

Fluor (NYSE:FLR) last announced its 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 net margin of 2.62% and a return on equity of 25.02%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the prior year, the company earned $0.76 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts predict that Fluor Co. will post 2.88 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on FLR. Truist Financial boosted their price target on shares of Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. KeyCorp upgraded Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target on the stock in a report on Wednesday, July 17th. UBS Group lifted their price objective on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird upped their target price on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, DA Davidson lifted their price target on shares of Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.29.

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.