Convergence Investment Partners LLC Takes $203,000 Position in Fluor Co. (NYSE:FLR)

Convergence Investment Partners LLC acquired a new stake in Fluor Co. (NYSE:FLR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,109 shares of the construction company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of Fluor by 2,509.5% in the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock valued at $27,000 after purchasing an additional 527 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Fluor in the fourth quarter valued at approximately $33,000. Quarry LP raised its holdings in Fluor by 244.7% in the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock valued at $63,000 after acquiring an additional 942 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Fluor by 826.2% in the fourth quarter. Venturi Wealth Management LLC now owns 1,556 shares of the construction company’s stock valued at $77,000 after acquiring an additional 1,388 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Fluor in the third quarter valued at approximately $96,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Activity

In related news, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction on Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the transaction, the insider now directly owns 147,045 shares in the company, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of Fluor stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the completion of the transaction, the insider now owns 137,974 shares in the company, valued at approximately $7,780,353.86. This trade represents a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Fluor Stock Down 0.4 %

FLR stock opened at $39.58 on Thursday. The company’s 50 day moving average is $49.31 and its two-hundred day moving average is $50.14. The stock has a market cap of $6.79 billion, a P/E ratio of 26.38, a PEG ratio of 3.06 and a beta of 1.89. Fluor Co. has a twelve month low of $35.04 and a twelve month high of $60.10. 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 (NYSE:FLR) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.42 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. Research analysts expect that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

FLR has been the topic of several analyst reports. Citigroup reduced their target price on shares of Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. UBS Group raised their target price on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Baird R W cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. KeyCorp raised their target price on shares of Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Finally, Truist Financial cut their price objective on shares of Fluor from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.43.

About Fluor

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.