New England Research & Management Inc. Sells 8,350 Shares of Fluor Co. (NYSE:FLR)

New England Research & Management Inc. reduced its stake in Fluor Co. (NYSE:FLR) by 62.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,100 shares of the construction company’s stock after selling 8,350 shares during the period. New England Research & Management Inc.’s holdings in Fluor were worth $243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Fluor by 18.6% during the 4th quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company’s stock valued at $668,278,000 after purchasing an additional 2,670,473 shares during the period. Hood River Capital Management LLC bought a new stake in shares of Fluor during the 2nd quarter valued at about $47,559,000. Rubric Capital Management LP boosted its position in Fluor by 23.6% during the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after acquiring an additional 614,521 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Fluor by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock worth $110,930,000 after acquiring an additional 323,111 shares during the period. Finally, Great Lakes Advisors LLC lifted its stake in shares of Fluor by 2,441.9% in the 2nd quarter. Great Lakes Advisors LLC now owns 282,655 shares of the construction company’s stock valued at $12,310,000 after purchasing an additional 271,535 shares during the period. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

Shares of FLR opened at $50.64 on Tuesday. The company has a market cap of $8.67 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 2.02 and a beta of 1.91. The business’s fifty day simple moving average is $47.58 and its two-hundred day simple moving average is $44.46. Fluor Co. has a 12 month low of $32.31 and a 12 month high of $51.64. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 EPS for the quarter, topping 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 return on equity of 25.02% and a net margin of 2.62%. Fluor’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. Research analysts anticipate that Fluor Co. will post 2.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

FLR has been the subject of several recent research reports. Robert W. Baird raised their price objective on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. UBS Group boosted their price objective on shares of Fluor from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Citigroup raised their target price on shares of Fluor from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Barclays boosted their price target on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Finally, DA Davidson lifted their price objective on Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Insider Activity at Fluor

In other Fluor news, CAO John C. Regan sold 13,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction 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 $2,703,669.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $50.01, for a total transaction of $200,640.12. Following the completion of the transaction, the chief financial officer now owns 53,527 shares in the company, valued at $2,676,885.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,261 shares of company stock worth $2,156,604 over the last quarter. Company insiders own 1.70% of the company’s stock.

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.