Atlas Wealth LLC Cuts Stock Position in Fluor Co. (NYSE:FLR)

Atlas Wealth LLC reduced its position in Fluor Co. (NYSE:FLR) by 11.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,488 shares of the construction company’s stock after selling 2,000 shares during the quarter. Atlas Wealth LLC’s holdings in Fluor were worth $739,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in FLR. ORG Partners LLC purchased a new stake in Fluor in the second quarter valued at about $34,000. GAMMA Investing LLC grew its position in Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after purchasing an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Fluor by 6,642.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after buying an additional 930 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Fluor during the second quarter worth $51,000. Finally, Quest Partners LLC purchased a new stake in shares of Fluor during the second quarter valued at $52,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fluor

In related news, CFO Joseph L. Brennan sold 4,012 shares of the company’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 owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. This represents a 6.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the sale, the insider now owns 147,045 shares of the company’s stock, valued at $8,327,158.35. This represents a 25.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,261 shares of company stock valued at $4,360,074. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FLR. Truist Financial boosted their price target on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. 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 report on Wednesday, October 23rd. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. DA Davidson upped their price target on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird lifted 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 investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.29.

Fluor Trading Up 1.6 %

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

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the business posted $1.02 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Fluor Co. will post 2.62 earnings per share 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.