Massachusetts Financial Services Co. MA Purchases New Stake in Fluor Corporation $FLR

Key Points

• Massachusetts Financial Services Co. purchased a new Q4 stake of 29,345 shares in Fluor, valued at approximately $1.16 million, while institutional investors now own about 88.07% of the company.
• Insider selling has been notable: insiders sold 22,110 shares in the past 90 days worth about $1.17 million (including Michael E. Alexander and Kevin B. Hammonds), and company insiders currently own roughly 1.70% of the stock.
• Analyst sentiment is mixed-to-positive with an average rating of "Moderate Buy" and an average target price of $54.33, and recent targets include Citigroup at $61 and UBS at $57.

Massachusetts Financial Services Co. MA purchased a new stake in shares of Fluor Corporation (NYSE:FLR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,345 shares of the construction company's stock, valued at approximately $1,163,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of Fluor by 6.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,591 shares of the construction company's stock valued at $151,000 after acquiring an additional 223 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company's stock valued at $194,000 after acquiring an additional 248 shares in the last quarter. Brighton Jones LLC raised its position in shares of Fluor by 3.1% during the 3rd quarter. Brighton Jones LLC now owns 9,060 shares of the construction company's stock valued at $381,000 after acquiring an additional 273 shares in the last quarter. Clearstead Advisors LLC raised its position in shares of Fluor by 20.9% during the 3rd quarter. Clearstead Advisors LLC now owns 1,594 shares of the construction company's stock valued at $67,000 after acquiring an additional 276 shares in the last quarter. Finally, Truist Financial Corp raised its position in shares of Fluor by 5.7% during the 3rd quarter. Truist Financial Corp now owns 5,361 shares of the construction company's stock valued at $226,000 after acquiring an additional 288 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Michael E. Alexander sold 3,387 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $53.07, for a total value of $179,748.09. Following the completion of the transaction, the insider owned 68,664 shares of the company's stock, valued at approximately $3,643,998.48. This represents a 4.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kevin B. Hammonds sold 2,988 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $52.61, for a total value of $157,198.68. Following the completion of the transaction, the insider directly owned 16,273 shares of the company's stock, valued at approximately $856,122.53. The trade was a 15.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 22,110 shares of company stock valued at $1,168,920. Company insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

FLR has been the topic of several research reports. UBS Group reissued a "buy" rating and set a $57.00 price target on shares of Fluor in a research report on Thursday, February 19th. Citigroup increased their target price on Fluor from $57.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Zacks Research raised Fluor from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 19th. Wall Street Zen raised Fluor from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Finally, Weiss Ratings lowered Fluor from a "hold (c)" rating to a "sell (d+)" rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $54.33.

Fluor Price Performance

Shares of NYSE FLR opened at $48.55 on Friday. Fluor Corporation has a 1-year low of $32.44 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 business's fifty day moving average price is $47.77 and its two-hundred day moving average price is $45.50. The firm has a market capitalization of $6.95 billion, a PE ratio of -62.24, a P/E/G ratio of 1.19 and a beta of 1.30.

Fluor (NYSE:FLR - Get Free Report) last issued its earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period in the prior year, the business earned $0.48 earnings per share. Fluor's quarterly revenue was down 2.0% on a year-over-year basis. On average, research analysts expect that Fluor Corporation will post 2.5 EPS for the current year.

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.

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