Westfield Capital Management Co. LP Boosts Stake in Fluor Corporation (NYSE:FLR)

Key Points

• Westfield Capital Management Co. LP has increased its stake in Fluor Corporation by 1.6%, owning approximately 0.69% of the company valued at $40.9 million as of the most recent quarter.
• Analysts have adjusted their ratings on Fluor, with Citigroup lowering its target price from $71.00 to $57.00, while UBS Group raised its target from $48.00 to $60.00.
• Fluor reported earnings of $0.43 per share for the last quarter, falling short of analysts' expectations, with revenue of $3.98 billion compared to the projected $4.55 billion.

Westfield Capital Management Co. LP raised its stake in Fluor Corporation (NYSE:FLR - Free Report) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,142,294 shares of the construction company's stock after buying an additional 18,346 shares during the period. Westfield Capital Management Co. LP owned about 0.69% of Fluor worth $40,917,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Fluor by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,515,911 shares of the construction company's stock valued at $124,087,000 after purchasing an additional 25,528 shares during the last quarter. Northern Trust Corp lifted its holdings in Fluor by 12.9% in the fourth quarter. Northern Trust Corp now owns 2,391,954 shares of the construction company's stock valued at $117,971,000 after buying an additional 273,156 shares during the period. Alyeska Investment Group L.P. grew its holdings in Fluor by 329.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company's stock worth $97,954,000 after acquiring an additional 1,523,647 shares during the period. Hood River Capital Management LLC raised its position in shares of Fluor by 58.4% in the 4th quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company's stock worth $96,285,000 after acquiring an additional 719,583 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Fluor by 23.1% in the 4th quarter. Invesco Ltd. now owns 1,345,503 shares of the construction company's stock valued at $66,360,000 after purchasing an additional 252,690 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Fluor Stock Performance

NYSE:FLR traded down $2.18 during trading on Friday, reaching $41.95. The company's stock had a trading volume of 5,122,518 shares, compared to its average volume of 3,571,511. Fluor Corporation has a 12 month low of $29.20 and a 12 month high of $60.10. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 1.73, a price-to-earnings-growth ratio of 2.60 and a beta of 1.43. The firm has a 50 day moving average of $49.91 and a 200-day moving average of $42.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.74 and a current ratio of 1.62.

Fluor (NYSE:FLR - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.16). The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.55 billion. Fluor had a net margin of 25.35% and a return on equity of 9.27%. Fluor's quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. Research analysts expect that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Analyst Ratings Changes

FLR has been the subject of several recent analyst reports. UBS Group decreased their target price on Fluor from $60.00 to $56.00 and set a "buy" rating for the company in a research note on Wednesday. Truist Financial set a $52.00 price objective on shares of Fluor in a research note on Monday. KeyCorp downgraded shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 target price on the stock. in a research report on Tuesday, July 15th. Citigroup reduced their price target on shares of Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a report on Monday. Finally, Robert W. Baird decreased their price target on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating for the company in a research note on Monday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Fluor currently has an average rating of "Hold" and a consensus target price of $49.57.

Insider Buying and Selling at Fluor

In related news, Chairman David E. Constable sold 38,600 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total transaction of $2,011,446.00. Following the sale, the chairman directly owned 792,027 shares in the company, valued at approximately $41,272,526.97. This represents a 4.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alvin C. Collins III sold 18,920 shares of Fluor stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $45.43, for a total transaction of $859,535.60. Following the completion of the transaction, the insider owned 64,383 shares of the company's stock, valued at $2,924,919.69. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,320 shares of company stock worth $4,870,182. Corporate insiders own 1.70% of the company's stock.

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.