Charles Schwab Investment Management Inc. Grows Position in Fluor Co. (NYSE:FLR)

Charles Schwab Investment Management Inc. grew its stake in Fluor Co. (NYSE:FLR) by 27.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,097,931 shares of the construction company’s stock after buying an additional 457,220 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Fluor were worth $100,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. ORG Partners LLC purchased a new position in shares of Fluor during the 2nd quarter valued at approximately $34,000. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC lifted 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 valued at $41,000 after buying an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Fluor during the 2nd quarter valued at approximately $51,000. Finally, Quest Partners LLC purchased a new position in shares of Fluor during the 2nd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

FLR stock opened at $55.93 on Wednesday. The business has a 50 day moving average price of $51.24 and a 200 day moving average price of $47.45. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 4.36 and a beta of 1.90. Fluor Co. has a fifty-two week low of $35.04 and a fifty-two week high of $60.10. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.25). The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $1.02 EPS. Equities research analysts anticipate that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

FLR has been the subject of several recent research reports. UBS Group increased 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. DA Davidson increased their price objective on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Truist Financial increased their price objective on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. KeyCorp increased their price objective on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Citigroup raised Fluor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.29.

Insider Activity

In related news, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the sale, the insider now directly owns 147,045 shares in the company, valued at $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joseph L. Brennan sold 4,012 shares of Fluor stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the sale, the chief financial officer now owns 53,527 shares in the company, valued at approximately $2,676,885.27. This trade represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,261 shares of company stock valued at $4,360,074. Company insiders own 1.70% of the company’s stock.

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.