Fluor Co. (NYSE:FLR) Shares Sold by Rubric Capital Management LP

Rubric Capital Management LP lowered its position in shares of Fluor Co. (NYSE:FLR) by 13.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,783,441 shares of the construction company’s stock after selling 431,080 shares during the period. Fluor accounts for approximately 2.2% of Rubric Capital Management LP’s investment portfolio, making the stock its 9th biggest holding. Rubric Capital Management LP owned approximately 1.62% of Fluor worth $132,798,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FLR. Hood River Capital Management LLC bought a new stake in shares of Fluor in the second quarter valued at about $47,559,000. Westfield Capital Management Co. LP bought a new stake in Fluor in the 3rd quarter valued at about $39,289,000. Charles Schwab Investment Management Inc. grew its position in shares of Fluor by 27.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after purchasing an additional 457,220 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Fluor by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock valued at $110,930,000 after buying an additional 323,111 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its stake in Fluor by 2,441.9% during the 2nd quarter. Great Lakes Advisors LLC now owns 282,655 shares of the construction company’s stock worth $12,310,000 after acquiring an additional 271,535 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on FLR shares. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. Robert W. Baird boosted their price objective on shares of Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Truist Financial upped their target price on 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 target on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, DA Davidson lifted their target price 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 assigned a buy rating to the stock. According to MarketBeat.com, Fluor currently has an average rating of “Moderate Buy” and an average price target of $60.29.

Fluor Price Performance

Shares of FLR opened at $55.93 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. The stock has a market cap of $9.59 billion, a PE ratio of 37.29, a PEG ratio of 4.38 and a beta of 1.90. Fluor Co. has a 12-month low of $35.04 and a 12-month high of $60.10. The business has a 50-day simple moving average of $51.24 and a two-hundred day simple moving average of $47.45.

Fluor (NYSE:FLR) last issued 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 the consensus estimate of $4.74 billion. During the same quarter last year, the business earned $1.02 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts anticipate that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Insider Activity

In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $50.01, for a total transaction of $200,640.12. Following the completion of the sale, the chief financial officer now owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. This represents a 6.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark E. Fields sold 50,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. This represents a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,261 shares of company stock valued at $4,360,074. Insiders own 1.70% of the company’s stock.

Fluor 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.