Gabelli Funds LLC Purchases 21,620 Shares of Fluor Corporation $FLR

Gabelli Funds LLC boosted its position in Fluor Corporation (NYSE:FLR) by 59.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,893 shares of the construction company’s stock after buying an additional 21,620 shares during the period. Gabelli Funds LLC’s holdings in Fluor were worth $2,436,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. DLD Asset Management LP acquired a new position in Fluor in the second quarter valued at approximately $1,025,400,000. Dimensional Fund Advisors LP grew its position in shares of Fluor by 8.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,137,672 shares of the construction company’s stock worth $174,077,000 after buying an additional 328,122 shares during the period. Rubric Capital Management LP bought a new stake in shares of Fluor in the 2nd quarter valued at $205,080,000. Sourcerock Group LLC acquired a new position in shares of Fluor during the 2nd quarter valued at $85,327,000. Finally, Balyasny Asset Management L.P. boosted its stake in Fluor by 90.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,586,492 shares of the construction company’s stock worth $81,339,000 after acquiring an additional 755,337 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FLR shares. Zacks Research raised shares of Fluor from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Citigroup increased their price objective on shares of Fluor from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Truist Financial boosted their target price on Fluor from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. UBS Group reaffirmed a “buy” rating and set a $57.00 price target on shares of Fluor in a research note on Thursday, February 19th. Finally, Robert W. Baird raised their price objective on Fluor from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.33.

Fluor Price Performance

FLR opened at $44.96 on Wednesday. Fluor Corporation has a 1 year low of $29.20 and a 1 year high of $57.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of -57.63, a P/E/G ratio of 1.16 and a beta of 1.36. The firm’s fifty day moving average price is $46.53 and its two-hundred day moving average price is $44.59.

Fluor (NYSE:FLR) last released its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Fluor had a negative net margin of 0.34% and a positive return on equity of 7.96%. The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts anticipate that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at Fluor

In related news, insider Anthony Morgan sold 3,387 shares of Fluor stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $53.09, for a total transaction of $179,815.83. Following the sale, the insider directly owned 45,999 shares in the company, valued at approximately $2,442,086.91. This trade represents a 6.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark E. Fields sold 5,178 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $52.36, for a total value of $271,120.08. Following the completion of the transaction, the insider owned 194,514 shares of the company’s stock, valued at $10,184,753.04. This trade represents a 2.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 22,110 shares of company stock worth $1,168,920. 1.70% of the stock is owned by insiders.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.