Artemis Investment Management LLP Has $40.10 Million Stock Position in Fluor Co. (NYSE:FLR)

Artemis Investment Management LLP lifted its stake in Fluor Co. (NYSE:FLR) by 9.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 840,564 shares of the construction company’s stock after buying an additional 75,070 shares during the period. Artemis Investment Management LLP owned about 0.49% of Fluor worth $40,103,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FLR. Rise Advisors LLC bought a new position in shares of Fluor during the first quarter valued at $28,000. ORG Partners LLC acquired a new stake in shares of Fluor during the second quarter worth approximately $34,000. GAMMA Investing LLC raised its stake in shares of Fluor by 46.4% in the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after acquiring an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings 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 worth $41,000 after acquiring an additional 930 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Fluor during the 2nd quarter worth approximately $51,000. Institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

FLR has been the topic of a number of recent analyst reports. KeyCorp raised Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective on the stock in a research note on Wednesday, July 17th. Barclays raised their price objective on shares of Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. UBS Group increased their price target on shares of Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. DA Davidson raised their price target on shares of Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Truist Financial upped their price objective on Fluor from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Insiders Place Their Bets

In related news, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $50.30, for a total value of $584,435.70. Following the completion of the sale, the chief financial officer now owns 41,908 shares in the company, valued at $2,107,972.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the sale, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at approximately $2,107,972.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO John C. Regan sold 13,000 shares of Fluor stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 44,261 shares of company stock worth $2,156,604. Company insiders own 1.70% of the company’s stock.

Fluor Price Performance

FLR opened at $50.43 on Wednesday. The company has a fifty day moving average price of $47.65 and a two-hundred day moving average price of $44.52. 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 firm has a market capitalization of $8.63 billion, a PE ratio of 29.32, a P/E/G ratio of 2.02 and a beta of 1.91. Fluor Co. has a 52 week low of $32.31 and a 52 week high of $51.64.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.17. The business 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%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. As a group, analysts anticipate that Fluor Co. will post 2.88 earnings per share for the current 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.