Ashton Thomas Private Wealth LLC Buys New Shares in Fluor Co. (NYSE:FLR)

Ashton Thomas Private Wealth LLC acquired a new stake in shares of Fluor Co. (NYSE:FLR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,160 shares of the construction company’s stock, valued at approximately $51,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in Fluor by 7.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 794,174 shares of the construction company’s stock worth $31,108,000 after acquiring an additional 53,398 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Fluor by 18.5% during the 4th quarter. Principal Financial Group Inc. now owns 631,381 shares of the construction company’s stock valued at $24,731,000 after purchasing an additional 98,381 shares during the period. Hennessy Advisors Inc. raised its position in Fluor by 18.0% during the 1st quarter. Hennessy Advisors Inc. now owns 810,700 shares of the construction company’s stock valued at $34,276,000 after purchasing an additional 123,500 shares during the last quarter. Diversified Trust Co bought a new stake in shares of Fluor in the 1st quarter worth approximately $1,368,000. Finally, Janus Henderson Group PLC increased its stake in shares of Fluor by 20.3% during the first quarter. Janus Henderson Group PLC now owns 78,374 shares of the construction company’s stock valued at $3,311,000 after buying an additional 13,203 shares during the period. Institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FLR shares. Robert W. Baird raised their target price on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. DA Davidson upped their target price on Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Citigroup raised their target price on Fluor from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Barclays increased their price objective on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Finally, KeyCorp upgraded shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target for the company in a research note on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Fluor currently has an average rating of “Moderate Buy” and an average target price of $54.00.

Insider Activity

In other Fluor news, CAO John C. Regan sold 13,000 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at approximately $2,703,669.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.70% of the company’s stock.

Fluor Stock Performance

Shares of FLR stock opened at $45.89 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 1.91 and a beta of 1.91. Fluor Co. has a one year low of $32.31 and a one year high of $51.64. The company’s 50-day moving average is $47.58 and its 200 day moving average is $43.41.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.17. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.34 billion. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. Sell-side analysts expect that Fluor Co. will post 2.9 EPS for the current fiscal 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.