MetLife Investment Management LLC Sells 3,058 Shares of Fluor Co. (NYSE:FLR)

MetLife Investment Management LLC lessened its position in shares of Fluor Co. (NYSE:FLR) by 1.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 182,487 shares of the construction company’s stock after selling 3,058 shares during the period. MetLife Investment Management LLC owned 0.11% of Fluor worth $8,706,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. ORG Partners LLC acquired a new stake in Fluor during the second quarter worth approximately $34,000. GAMMA Investing LLC grew its stake in shares of Fluor by 46.4% in the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after buying an additional 285 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after buying an additional 930 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Fluor in the second quarter worth approximately $51,000. Finally, Quest Partners LLC acquired a new stake in Fluor in the second quarter valued at approximately $52,000. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

Shares of FLR stock opened at $55.25 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 4.38 and a beta of 1.90. Fluor Co. has a 52 week low of $35.04 and a 52 week high of $60.10. The firm’s 50-day simple moving average is $51.62 and its two-hundred day simple moving average is $47.63.

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

Wall Street Analyst Weigh In

FLR has been the subject of a number of recent research reports. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. KeyCorp raised their price target 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 raised their price objective on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. DA Davidson upped 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. Finally, UBS Group raised their price target on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.29.

Insider Transactions at Fluor

In other news, CFO Joseph L. Brennan sold 4,012 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 53,527 shares of the company’s stock, valued at $2,676,885.27. This trade represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark E. Fields sold 50,000 shares of the business’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,261 shares of company stock worth $4,360,074 over the last quarter. Corporate 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.