Cim Investment Management Inc. Invests $391,000 in Fluor Co. (NYSE:FLR)

Cim Investment Management Inc. purchased a new position in Fluor Co. (NYSE:FLR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,204 shares of the construction company’s stock, valued at approximately $391,000.

Several other hedge funds also recently added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its position in Fluor by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock worth $235,000 after purchasing an additional 176 shares in the last quarter. Seelaus Asset Management LLC grew its position in Fluor by 3.7% during the third quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock valued at $307,000 after buying an additional 230 shares during the period. ClariVest Asset Management LLC raised its position in shares of Fluor by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock worth $3,379,000 after acquiring an additional 233 shares during the period. Xponance Inc. boosted its stake in shares of Fluor by 1.2% during the 2nd quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock worth $1,006,000 after acquiring an additional 265 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Fluor by 4.9% in the third quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock valued at $286,000 after purchasing an additional 277 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Trading Down 0.7 %

NYSE FLR opened at $55.43 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $53.44 and a two-hundred day moving average of $48.79. The stock has a market capitalization of $9.51 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 4.36 and a beta of 1.89. Fluor Co. has a 52 week low of $35.04 and a 52 week high of $60.10.

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

Analyst Ratings Changes

A number of equities analysts have commented on FLR shares. UBS Group increased their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. DA Davidson lifted their target price on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. KeyCorp increased their target price on shares of Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Truist Financial boosted 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. Finally, Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Fluor currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.29.

Insider Buying and Selling

In other news, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the transaction, the chief financial officer now owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. The trade was a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas P. D’agostino sold 7,681 shares of Fluor stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the completion of the transaction, the insider now owns 137,974 shares in the company, valued at approximately $7,780,353.86. This trade represents a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,942 shares of company stock worth $4,793,206 in the last 90 days. Company insiders own 1.70% of the company’s stock.

Fluor Company 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.