Brightline Capital Management LLC Has $21.71 Million Stake in Fluor Co. (NYSE:FLR)

Brightline Capital Management LLC grew its stake in shares of Fluor Co. (NYSE:FLR) by 24.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 455,000 shares of the construction company’s stock after acquiring an additional 90,000 shares during the period. Fluor accounts for approximately 9.2% of Brightline Capital Management LLC’s portfolio, making the stock its largest holding. Brightline Capital Management LLC’s holdings in Fluor were worth $21,708,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Fluor by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 103,721 shares of the construction company’s stock worth $4,386,000 after acquiring an additional 5,224 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Fluor by 15.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 26,285 shares of the construction company’s stock worth $1,111,000 after buying an additional 3,426 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Fluor by 20.3% during the 1st quarter. Janus Henderson Group PLC now owns 78,374 shares of the construction company’s stock worth $3,311,000 after acquiring an additional 13,203 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Fluor by 11.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,727 shares of the construction company’s stock valued at $242,000 after acquiring an additional 601 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings 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 worth $7,164,000 after purchasing an additional 16,769 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $50.01, for a total transaction of $200,640.12. Following the sale, the chief financial officer now directly owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. This represents a 6.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark E. Fields sold 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were 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 in the company, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,261 shares of company stock worth $4,360,074. Insiders own 1.70% of the company’s stock.

Fluor Stock Up 1.3 %

Fluor stock traded up $0.71 during trading hours on Wednesday, hitting $56.64. 103,634 shares of the stock traded hands, compared to its average volume of 1,708,894. Fluor Co. has a one year low of $35.04 and a one year high of $60.10. The company has a market cap of $9.71 billion, a PE ratio of 37.29, a PEG ratio of 4.38 and a beta of 1.90. The firm’s 50-day moving average price is $51.24 and its two-hundred day moving average price is $47.45. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48.

Fluor (NYSE:FLR) last released its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company earned $1.02 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts forecast that Fluor Co. will post 2.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FLR. Truist Financial boosted their price objective on shares of Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. DA Davidson raised their price objective on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and increased their target price for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. UBS Group boosted their price objective on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, 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 report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.29.

Fluor Company Profile

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.