Nomura Asset Management Co. Ltd. Reduces Holdings in Fluor Co. (NYSE:FLR)

Nomura Asset Management Co. Ltd. cut its position in Fluor Co. (NYSE:FLR) by 45.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,219 shares of the construction company’s stock after selling 2,656 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Fluor were worth $154,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new position in Fluor in the 2nd quarter valued at about $47,559,000. Westfield Capital Management Co. LP purchased a new position in Fluor in the third quarter valued at about $39,289,000. Rubric Capital Management LP grew its stake in Fluor by 23.6% during the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after purchasing an additional 614,521 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fluor by 27.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after purchasing an additional 457,220 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Fluor by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock valued at $110,930,000 after purchasing an additional 323,111 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FLR. DA Davidson lifted their price target 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. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. KeyCorp increased their price target on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Truist Financial boosted their price objective on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, UBS Group lifted their target price on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.29.

Insider Buying and Selling at Fluor

In other Fluor news, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the transaction, the insider now owns 147,045 shares in the company, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas P. D’agostino sold 7,681 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the transaction, the insider now directly owns 137,974 shares in the company, valued at $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 88,942 shares of company stock valued at $4,793,206 in the last ninety days. Company insiders own 1.70% of the company’s stock.

Fluor Trading Down 1.4 %

Shares of NYSE FLR opened at $54.64 on Monday. Fluor Co. has a 12-month low of $35.04 and a 12-month high of $60.10. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 36.43, a price-to-earnings-growth ratio of 4.36 and a beta of 1.89. 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 stock’s 50 day simple moving average is $53.54 and its 200 day simple moving average is $48.98.

Fluor (NYSE:FLR) last posted its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The company had revenue of $4.09 billion during 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%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 earnings per share. Equities research analysts expect that Fluor Co. will post 2.62 EPS for the current year.

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.