Westfield Capital Management Co. LP Buys Shares of 823,490 Fluor Co. (NYSE:FLR)

Westfield Capital Management Co. LP acquired a new stake in shares of Fluor Co. (NYSE:FLR) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 823,490 shares of the construction company’s stock, valued at approximately $39,289,000.

A number of other hedge funds also recently made changes to their positions in the stock. ORG Partners LLC purchased a new position in shares of Fluor in the 2nd quarter worth about $34,000. GAMMA Investing LLC raised its stake in shares of Fluor by 46.4% during the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after acquiring an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC lifted 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 during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Fluor in the 2nd quarter valued at $51,000. Finally, Quest Partners LLC bought a new position in shares of Fluor during the 2nd quarter valued at $52,000. 88.07% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Joseph L. Brennan sold 15,335 shares of the business’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 value of $729,485.95. Following the completion of the transaction, the chief financial officer now directly owns 57,834 shares in the company, valued at $2,751,163.38. The trade was a 20.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 31,261 shares of company stock worth $1,528,574 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

Fluor Trading Up 2.0 %

NYSE FLR opened at $55.79 on Monday. The stock’s 50 day moving average is $51.05 and its 200 day moving average is $47.33. 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 firm has a market capitalization of $9.57 billion, a PE ratio of 37.19, a P/E/G ratio of 4.36 and a beta of 1.90. Fluor Co. has a twelve month low of $35.04 and a twelve month high of $60.10.

Fluor (NYSE:FLR) last issued its quarterly earnings results 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). The business 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 last year, the business earned $1.02 earnings per share. Research analysts forecast that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FLR shares. DA Davidson lifted their price objective on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. UBS Group boosted their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. KeyCorp increased their target price on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Truist Financial boosted their price target on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Fluor has an average rating of “Moderate Buy” and an average target price of $60.29.

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.