Hotchkis & Wiley Capital Management LLC Sells 615,840 Shares of Fluor Co. (NYSE:FLR)

Hotchkis & Wiley Capital Management LLC cut its position in shares of Fluor Co. (NYSE:FLR) by 15.2% in the third quarter, Holdings Channel.com reports. The firm owned 3,423,585 shares of the construction company’s stock after selling 615,840 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in Fluor were worth $163,339,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. ORG Partners LLC acquired a new position in Fluor in the second quarter valued at about $34,000. GAMMA Investing LLC lifted its stake in Fluor by 46.4% during the second 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 lifted its position in Fluor by 6,642.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after acquiring an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Fluor during the second quarter valued at about $51,000. Finally, Quest Partners LLC purchased a new position in shares of Fluor during the second quarter worth approximately $52,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Activity

In other Fluor 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 transaction of $200,640.12. Following the sale, the chief financial officer now directly owns 53,527 shares of the company’s stock, valued at $2,676,885.27. This represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark E. Fields sold 50,000 shares of the firm’s 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 $8,327,158.35. The trade was a 25.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,261 shares of company stock valued at $4,360,074. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on FLR. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Truist Financial upped their price target on shares of Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group lifted their price objective on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. DA Davidson increased their price objective on 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 upped their price target on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Fluor currently has a consensus rating of “Moderate Buy” and an average target price of $60.29.

Fluor Stock Down 1.8 %

Fluor stock opened at $55.11 on Tuesday. Fluor Co. has a 1-year low of $35.04 and a 1-year 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. The company has a fifty day simple moving average of $51.96 and a 200 day simple moving average of $47.93. The company has a market cap of $9.45 billion, a P/E ratio of 36.74, a price-to-earnings-growth ratio of 4.39 and a beta of 1.89.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.25). The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. Fluor’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS. Research analysts anticipate that Fluor Co. will post 2.62 earnings per share 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.