Centiva Capital LP Makes New Investment in Fluor Co. (NYSE:FLR)

Centiva Capital LP acquired a new position in shares of Fluor Co. (NYSE:FLR) during the third quarter, HoldingsChannel reports. The fund acquired 8,922 shares of the construction company’s stock, valued at approximately $426,000.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in shares of Fluor in the 2nd quarter valued at about $34,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Fluor by 6,642.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after purchasing an additional 930 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Fluor in the 2nd quarter valued at about $51,000. Quest Partners LLC bought a new position in Fluor during the 2nd quarter worth approximately $52,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Fluor during the 3rd quarter worth approximately $96,000. Institutional investors own 88.07% of the company’s stock.

Insider Activity

In other news, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction that occurred on Monday, November 25th. The shares were 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. This trade represents a 25.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the completion of the transaction, the insider now directly owns 137,974 shares of the company’s stock, valued at $7,780,353.86. This represents a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,942 shares of company stock worth $4,793,206 over the last ninety days. Insiders own 1.70% of the company’s stock.

Fluor Stock Performance

Shares of FLR stock opened at $55.27 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $9.48 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 4.36 and a beta of 1.89. The company’s 50 day moving average price is $52.98 and its two-hundred day moving average price is $48.60. Fluor Co. has a 52 week low of $35.04 and a 52 week high of $60.10.

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

Analyst Ratings Changes

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

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.