Hennessy Advisors Inc. Purchases 120,800 Shares of Fluor Co. (NYSE:FLR)

Hennessy Advisors Inc. boosted its position in Fluor Co. (NYSE:FLR) by 13.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,040,600 shares of the construction company’s stock after acquiring an additional 120,800 shares during the quarter. Fluor accounts for 1.5% of Hennessy Advisors Inc.’s holdings, making the stock its 19th largest holding. Hennessy Advisors Inc. owned 0.61% of Fluor worth $51,322,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Park Avenue Securities LLC grew its position in Fluor by 26.9% in the fourth quarter. Park Avenue Securities LLC now owns 13,396 shares of the construction company’s stock valued at $661,000 after acquiring an additional 2,839 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Fluor by 5.8% during the 4th quarter. Diversified Trust Co now owns 39,090 shares of the construction company’s stock valued at $1,928,000 after acquiring an additional 2,150 shares in the last quarter. GAMMA Investing LLC grew its position in Fluor by 10.3% during the 4th quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock worth $112,000 after acquiring an additional 213 shares during the last quarter. Versant Capital Management Inc increased its holdings in Fluor by 2,509.5% in the 4th quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock worth $27,000 after purchasing an additional 527 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Fluor by 42.1% in the third quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company’s stock valued at $41,077,000 after purchasing an additional 254,904 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction on Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of the sale, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $433,131.59. Following the completion of 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. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FLR has been the subject of several recent research reports. UBS Group upped their price objective on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird reaffirmed a “neutral” rating and set a $58.00 price target (up previously from $54.00) on shares of Fluor in a research note on Wednesday, December 18th. Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. DA Davidson lifted their target price on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Truist Financial lowered their price objective on Fluor from $66.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.14.

Fluor Stock Performance

Shares of Fluor stock opened at $49.44 on Friday. The company has a market cap of $8.48 billion, a P/E ratio of 32.96, a PEG ratio of 3.39 and a beta of 1.91. 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 business has a 50-day moving average price of $52.15 and a two-hundred day moving average price of $49.91. Fluor Co. has a 1-year low of $35.04 and a 1-year high of $60.10.

Fluor (NYSE:FLR) last issued its quarterly 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 business 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%. Fluor’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.02 earnings per share. As a group, analysts anticipate that Fluor Co. will post 2.62 EPS for the current year.

Fluor 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.