Point72 Hong Kong Ltd Has $1.78 Million Holdings in Fluor Co. (NYSE:FLR)

Point72 Hong Kong Ltd boosted its position in shares of Fluor Co. (NYSE:FLR) by 366.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,399 shares of the construction company’s stock after acquiring an additional 29,378 shares during the period. Point72 Hong Kong Ltd’s holdings in Fluor were worth $1,784,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLR. Rubric Capital Management LP increased its position in Fluor by 23.6% during the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock worth $139,992,000 after acquiring an additional 614,521 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Fluor by 14.5% during 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 during the period. Charles Schwab Investment Management Inc. raised its position 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 buying an additional 457,220 shares during the last quarter. Thrivent Financial for Lutherans grew its position in 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 buying an additional 9,789 shares in the last quarter. Finally, Hood River Capital Management LLC bought a new position in Fluor during the second quarter valued at about $47,559,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fluor

In other news, 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 value of $2,831,500.00. Following the completion of the sale, the insider now directly owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the transaction, the chief financial officer now directly owns 53,527 shares in the company, valued at $2,676,885.27. This trade represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,261 shares of company stock worth $4,360,074. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. DA Davidson lifted their price objective on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Citigroup upgraded 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. UBS Group raised their price objective on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird upped 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. Finally, KeyCorp lifted their price objective on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.29.

Fluor Stock Performance

NYSE:FLR opened at $56.13 on Monday. The stock has a market capitalization of $9.63 billion, a P/E ratio of 37.42, a price-to-earnings-growth ratio of 4.39 and a beta of 1.90. 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 1 year low of $35.04 and a 1 year high of $60.10. The firm has a 50 day moving average of $51.96 and a 200-day moving average of $47.86.

Fluor (NYSE:FLR) last issued its quarterly earnings data 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 business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fluor Co. will post 2.62 EPS for the current fiscal year.

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.