Harvest Fund Management Co. Ltd Makes New Investment in Fluor Co. (NYSE:FLR)

Harvest Fund Management Co. Ltd bought a new stake in shares of Fluor Co. (NYSE:FLR) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,015 shares of the construction company’s stock, valued at approximately $96,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd increased its stake in Fluor by 67.7% in the third quarter. Dynamic Technology Lab Private Ltd now owns 49,152 shares of the construction company’s stock worth $2,345,000 after purchasing an additional 19,836 shares during the period. Westfield Capital Management Co. LP purchased a new position in Fluor in the 3rd quarter worth about $39,289,000. Cerity Partners LLC lifted its holdings in Fluor by 64.0% during the 3rd quarter. Cerity Partners LLC now owns 64,029 shares of the construction company’s stock valued at $3,055,000 after buying an additional 24,979 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Fluor by 27.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after buying an additional 457,220 shares during the period. Finally, Intech Investment Management LLC grew its stake in Fluor by 192.1% in the 3rd quarter. Intech Investment Management LLC now owns 69,505 shares of the construction company’s stock worth $3,316,000 after acquiring an additional 45,706 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FLR shares. KeyCorp boosted their price target on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. Robert W. Baird lifted their price objective on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Truist Financial upped 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. Finally, DA Davidson boosted their price target on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.29.

Fluor Stock Performance

FLR stock opened at $55.25 on Thursday. Fluor Co. has a one year low of $35.04 and a one year high of $60.10. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 4.38 and a beta of 1.90. 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 firm has a 50-day simple moving average of $51.44 and a two-hundred day simple moving average of $47.57.

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

Insider Buying and Selling

In other Fluor news, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Joseph L. Brennan sold 15,335 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 57,834 shares in the company, valued at $2,751,163.38. The trade was a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,261 shares of company stock worth $4,360,074 in the last ninety days. 1.70% of the stock is owned by insiders.

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.