Meyer Handelman Co. Makes New Investment in Fluor Co. (NYSE:FLR)

Meyer Handelman Co. purchased a new stake in shares of Fluor Co. (NYSE:FLR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,600 shares of the construction company’s stock, valued at approximately $267,000.

A number of other large investors have also recently bought and sold shares of the business. GLOBALT Investments LLC GA acquired a new position in Fluor during the fourth quarter valued at approximately $1,831,000. Virtu Financial LLC bought a new position in Fluor in the 4th quarter worth $250,000. American International Group Inc. boosted its holdings in Fluor by 10.2% during the fourth quarter. American International Group Inc. now owns 299,683 shares of the construction company’s stock valued at $11,739,000 after acquiring an additional 27,669 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Fluor by 7.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 794,174 shares of the construction company’s stock valued at $31,108,000 after purchasing an additional 53,398 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Fluor by 18.6% in the fourth quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company’s stock worth $668,278,000 after purchasing an additional 2,670,473 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Insider Transactions at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total value of $584,435.70. Following the transaction, the chief financial officer now directly owns 41,908 shares in the company, valued at $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 available at this hyperlink. In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of Fluor stock in a transaction 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 completion of the transaction, the chief financial officer now owns 41,908 shares in the company, valued at approximately $2,107,972.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the sale, the chief financial officer now owns 53,527 shares in the company, valued at $2,676,885.27. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,261 shares of company stock valued at $2,156,604. 1.70% of the stock is owned by insiders.

Fluor Stock Performance

NYSE:FLR opened at $51.06 on Friday. 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 has a 50-day moving average price of $47.82 and a 200 day moving average price of $44.70. The firm has a market capitalization of $8.75 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 2.18 and a beta of 1.91. Fluor Co. has a 12-month low of $32.31 and a 12-month high of $51.64.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FLR shares. KeyCorp raised Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price on the stock in a report on Wednesday, July 17th. Citigroup boosted their target price on shares of Fluor from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. UBS Group increased their price target on shares of Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. DA Davidson boosted their price objective on shares of Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Robert W. Baird increased their target price on shares of Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fluor has an average rating of “Moderate Buy” and an average target price of $54.71.

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.