Rubric Capital Management LP Cuts Position in Fluor Co. (NYSE:FLR)

Rubric Capital Management LP cut its holdings in Fluor Co. (NYSE:FLR) by 13.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,783,441 shares of the construction company’s stock after selling 431,080 shares during the quarter. Fluor accounts for 2.2% of Rubric Capital Management LP’s investment portfolio, making the stock its 9th biggest holding. Rubric Capital Management LP’s holdings in Fluor were worth $132,798,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position 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 valued at $110,930,000 after buying an additional 323,111 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Fluor by 27.9% during 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 acquiring an additional 457,220 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Fluor by 0.5% during the third quarter. Thrivent Financial for Lutherans now owns 2,004,775 shares of the construction company’s stock worth $95,648,000 after purchasing an additional 9,789 shares during the period. Hood River Capital Management LLC acquired a new stake in Fluor in the 2nd quarter valued at $47,559,000. Finally, King Luther Capital Management Corp increased its stake in Fluor by 1.8% during the 2nd quarter. King Luther Capital Management Corp now owns 1,052,106 shares of the construction company’s stock valued at $45,819,000 after purchasing an additional 18,535 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of Fluor stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the transaction, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. The trade was a 21.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark E. Fields sold 50,000 shares of the firm’s 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 completion of the transaction, 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 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 valued at $4,360,074. 1.70% of the stock is owned by company insiders.

Fluor Stock Down 0.2 %

Shares of NYSE:FLR opened at $55.93 on Wednesday. The company has a market capitalization of $9.59 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 4.38 and a beta of 1.90. Fluor Co. has a 1 year low of $35.04 and a 1 year high of $60.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The business has a fifty day moving average price of $51.24 and a two-hundred day moving average price of $47.45.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FLR. DA Davidson lifted their price objective on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. KeyCorp boosted their price objective on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group raised their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial upped their price target on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Robert W. Baird raised their price objective on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.29.

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.