Hotchkis & Wiley Capital Management LLC Reduces Holdings in Fluor Co. (NYSE:FLR)

Hotchkis & Wiley Capital Management LLC lowered its position in shares of Fluor Co. (NYSE:FLR) by 15.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,423,585 shares of the construction company’s stock after selling 615,840 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 2.00% of Fluor worth $163,339,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Hood River Capital Management LLC bought a new position in Fluor in the 2nd quarter worth approximately $47,559,000. Westfield Capital Management Co. LP bought a new position in Fluor in the third quarter worth approximately $39,289,000. Rubric Capital Management LP lifted its stake in shares of Fluor by 23.6% in the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after acquiring an additional 614,521 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Fluor by 27.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after buying an additional 457,220 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Fluor by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock worth $110,930,000 after purchasing an additional 323,111 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling at Fluor

In other news, CFO Joseph L. Brennan sold 4,012 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were 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 $2,676,885.27. This trade represents a 6.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction on 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 completion of the transaction, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,261 shares of company stock worth $4,360,074. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on FLR. 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 price target on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Truist Financial raised their target price on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. DA Davidson increased their price target on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird upped their price target on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluor currently has a consensus rating of “Moderate Buy” and an average price target of $60.29.

Fluor Trading Down 1.8 %

NYSE FLR opened at $55.11 on Tuesday. The business has a fifty day simple moving average of $51.96 and a 200 day simple moving average of $47.93. The firm has a market capitalization of $9.45 billion, a P/E ratio of 36.74, a PEG ratio of 4.39 and a beta of 1.89. 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 Co. has a 12 month low of $35.04 and a 12 month high of $60.10.

Fluor (NYSE:FLR) last released its quarterly earnings results 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). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the firm posted $1.02 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that Fluor Co. will post 2.62 EPS for the current fiscal year.

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.