The Manufacturers Life Insurance Company Sells 7,174 Shares of Fluor Co. (NYSE:FLR)

The Manufacturers Life Insurance Company reduced its position in Fluor Co. (NYSE:FLR) by 3.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 198,886 shares of the construction company’s stock after selling 7,174 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of Fluor worth $9,489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FLR. Hood River Capital Management LLC purchased a new stake in shares of Fluor during the second quarter worth $47,559,000. Westfield Capital Management Co. LP purchased a new stake in shares of Fluor in the third quarter worth $39,289,000. Rubric Capital Management LP grew its position in Fluor by 23.6% during the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock worth $139,992,000 after buying an additional 614,521 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Fluor by 27.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after purchasing an additional 457,220 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Fluor by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock worth $110,930,000 after buying an additional 323,111 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on FLR shares. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Truist Financial upped their price target on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. KeyCorp lifted their price objective on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group increased their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, DA Davidson boosted their price objective on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.29.

Insider Activity

In other Fluor news, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the sale, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph L. Brennan sold 15,335 shares of the business’s 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 of the company’s stock, valued at approximately $2,751,163.38. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,261 shares of company stock worth $4,360,074. Corporate insiders own 1.70% of the company’s stock.

Fluor Stock Down 0.8 %

Shares of Fluor stock opened at $54.70 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. Fluor Co. has a 12-month low of $35.04 and a 12-month high of $60.10. The company has a market cap of $9.38 billion, a P/E ratio of 36.47, a PEG ratio of 4.31 and a beta of 1.89. The company’s fifty day simple moving average is $52.13 and its two-hundred day simple moving average is $48.05.

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

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.