Fluor Corporation $FLR Shares Bought by Gamco Investors INC. ET AL

Key Points

• Gamco Investors increased its Fluor stake by 271.7% in the fourth quarter, ending with 49,490 shares valued at about $1.96 million. Several other institutional investors also boosted holdings, and institutions now own 88.07% of the stock.
• Two insiders, Michael E. Alexander and Anthony Morgan, each sold 3,387 shares on February 23 at around $53 per share. The sales reduced their ownership positions, though corporate insiders still hold 1.70% of Fluor shares.
• Fluor reported weaker-than-expected quarterly results, with EPS of $0.14 versus estimates of $0.66 and revenue of $3.66 billion versus $3.89 billion expected. Analysts remain mixed, with a consensus rating of “Moderate Buy” and an average target price of $53.33.

Gamco Investors INC. ET AL raised its position in Fluor Corporation (NYSE:FLR - Free Report) by 271.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,490 shares of the construction company's stock after purchasing an additional 36,177 shares during the quarter. Gamco Investors INC. ET AL's holdings in Fluor were worth $1,961,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of FLR. Assetmark Inc. boosted its holdings in Fluor by 249.0% in the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company's stock valued at $27,000 after purchasing an additional 483 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Fluor by 6,116.7% in the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company's stock worth $31,000 after acquiring an additional 734 shares during the last quarter. Banque Transatlantique SA lifted its holdings in shares of Fluor by 312.5% in the 2nd quarter. Banque Transatlantique SA now owns 825 shares of the construction company's stock worth $43,000 after acquiring an additional 625 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Fluor in the 4th quarter worth approximately $52,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Fluor by 1,167.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,267 shares of the construction company's stock worth $53,000 after acquiring an additional 1,167 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fluor news, insider Michael E. Alexander sold 3,387 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $53.07, for a total value of $179,748.09. Following the sale, the insider directly owned 68,664 shares of the company's stock, valued at approximately $3,643,998.48. This represents a 4.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anthony Morgan sold 3,387 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $53.09, for a total transaction of $179,815.83. Following the completion of the sale, the insider directly owned 45,999 shares in the company, valued at approximately $2,442,086.91. This represents a 6.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.70% of the company's stock.

Fluor Price Performance

Shares of FLR opened at $44.54 on Friday. Fluor Corporation has a fifty-two week low of $37.48 and a fifty-two week high of $57.50. The firm's 50 day moving average price is $47.13 and its 200 day moving average price is $45.65. The company has a market cap of $6.22 billion, a P/E ratio of 25.89, a PEG ratio of 1.32 and a beta of 1.33. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36.

Fluor (NYSE:FLR - Get Free Report) last announced its earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same period in the previous year, the company earned $0.73 earnings per share. Fluor's quarterly revenue was down 8.0% on a year-over-year basis. On average, research analysts forecast that Fluor Corporation will post 2.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial restated a "buy" rating and issued a $57.00 price objective (down from $59.00) on shares of Fluor in a report on Monday, May 11th. Zacks Research lowered shares of Fluor from a "strong-buy" rating to a "hold" rating in a report on Monday, April 20th. Wall Street Zen upgraded shares of Fluor from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. Weiss Ratings upgraded shares of Fluor from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Finally, DA Davidson upped their price objective on shares of Fluor from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.33.

About Fluor

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.

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