Renaissance Technologies LLC Sells 306,000 Shares of Fluor Co. (NYSE:FLR)

Renaissance Technologies LLC lowered its stake in Fluor Co. (NYSE:FLR) by 84.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,500 shares of the construction company’s stock after selling 306,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Fluor were worth $2,461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FLR. Rise Advisors LLC bought a new stake in Fluor during the 1st quarter worth approximately $28,000. ORG Partners LLC bought a new position in Fluor in the 2nd quarter worth $34,000. GAMMA Investing LLC increased its stake in Fluor by 46.4% in the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after buying an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Fluor by 6,642.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after acquiring an additional 930 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Fluor in the second quarter worth about $51,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Stock Performance

Shares of NYSE:FLR opened at $46.91 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 27.27, a PEG 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 firm’s 50-day moving average is $47.45 and its 200 day moving average is $44.20.

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 the consensus estimate of $0.68 by $0.17. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the business posted $0.76 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts predict that Fluor Co. will post 2.88 EPS for the current year.

Insider Activity

In related news, CAO John C. Regan sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total value of $628,030.00. Following the transaction, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at approximately $2,703,669.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Fluor news, CAO John C. Regan sold 13,000 shares of the company’s 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following 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. Over the last ninety days, insiders sold 28,630 shares of company stock valued at $1,371,528. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group lifted their target price on Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Robert W. Baird boosted their target price on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Truist Financial boosted their price target on shares of Fluor from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Citigroup raised their price objective on Fluor from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, DA Davidson boosted their target price on Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Fluor Company 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.