Harbor Capital Advisors Inc. Grows Stake in Fluor Co. (NYSE:FLR)

Harbor Capital Advisors Inc. increased its holdings in Fluor Co. (NYSE:FLR) by 166.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 158,571 shares of the construction company’s stock after buying an additional 99,168 shares during the period. Harbor Capital Advisors Inc.’s holdings in Fluor were worth $7,565,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new stake in shares of Fluor in the 2nd quarter valued at about $47,559,000. Rubric Capital Management LP raised its stake in Fluor by 23.6% in the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after purchasing an additional 614,521 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Fluor by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock valued at $110,930,000 after purchasing an additional 323,111 shares during the last quarter. Great Lakes Advisors LLC grew its stake in Fluor by 2,441.9% in the 2nd quarter. Great Lakes Advisors LLC now owns 282,655 shares of the construction company’s stock worth $12,310,000 after buying an additional 271,535 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Fluor by 63.8% in the 2nd quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock worth $24,771,000 after buying an additional 222,070 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Up 1.2 %

Shares of NYSE FLR opened at $52.89 on Friday. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.26 and a beta of 1.90. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $49.24 and its 200 day moving average is $45.85. Fluor Co. has a 52 week low of $33.50 and a 52 week high of $55.86.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the business posted $0.76 earnings per share. Fluor’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts expect that Fluor Co. will post 2.88 earnings per share for the current year.

Insider Buying and Selling at Fluor

In other news, CFO Joseph L. Brennan sold 11,619 shares of the business’s 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 transaction, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at approximately $2,107,972.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the sale, the chief financial officer now directly owns 53,527 shares in the company, valued at $2,676,885.27. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the transaction, the chief financial officer now owns 41,908 shares in the company, valued at $2,107,972.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,261 shares of company stock valued at $2,156,604 in the last 90 days. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

FLR has been the subject of several research reports. DA Davidson upped their target price on shares of Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays increased their price objective on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. KeyCorp upgraded Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price for the company in a research report on Wednesday, July 17th. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Finally, UBS Group upped their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $58.29.

Fluor 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.