Fluor Co. (NYSE:FLR) Stake Lessened by Millrace Asset Group Inc.

Millrace Asset Group Inc. decreased its position in shares of Fluor Co. (NYSE:FLR) by 10.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,904 shares of the construction company’s stock after selling 5,047 shares during the period. Fluor accounts for about 2.0% of Millrace Asset Group Inc.’s investment portfolio, making the stock its 17th largest holding. Millrace Asset Group Inc.’s holdings in Fluor were worth $1,999,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in Fluor by 20.3% during the first quarter. Janus Henderson Group PLC now owns 78,374 shares of the construction company’s stock worth $3,311,000 after buying an additional 13,203 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Fluor by 230.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 59,403 shares of the construction company’s stock worth $2,587,000 after acquiring an additional 41,428 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Fluor by 139.1% during the third quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock worth $819,000 after purchasing an additional 9,992 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Fluor by 63.8% during the second quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock valued at $24,771,000 after purchasing an additional 222,070 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Fluor by 11.0% in the 1st quarter. California State Teachers Retirement System now owns 169,441 shares of the construction company’s stock valued at $7,164,000 after purchasing an additional 16,769 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Price Performance

NYSE FLR opened at $56.04 on Tuesday. The stock has a market capitalization of $9.61 billion, a PE ratio of 37.36, a P/E/G ratio of 4.36 and a beta of 1.90. The stock has a 50-day simple moving average of $51.24 and a 200 day simple moving average of $47.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. Fluor Co. has a twelve month low of $35.04 and a twelve month high of $60.10.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.25). The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.02 EPS. Research analysts anticipate that Fluor Co. will post 2.62 EPS for the current year.

Insider Buying and Selling at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of Fluor stock in a transaction 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 directly owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. This trade represents a 6.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark E. Fields sold 50,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the sale, the insider now owns 147,045 shares of the company’s stock, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,261 shares of company stock valued at $4,360,074 in the last 90 days. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FLR has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 5th. DA Davidson increased their price objective on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. UBS Group raised their price target on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, KeyCorp increased their target price on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.