GSA Capital Partners LLP acquired a new stake in Fluor Corporation (NYSE:FLR – Free Report) in the 2nd quarter, Holdings Channel reports. The firm acquired 17,584 shares of the construction company’s stock, valued at approximately $921,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in shares of Fluor by 40.3% in the 1st quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock valued at $361,000 after purchasing an additional 2,896 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Fluor by 337.7% in the first quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock valued at $587,000 after buying an additional 12,645 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Fluor during the 1st quarter worth about $266,000. Acadian Asset Management LLC acquired a new stake in shares of Fluor during the 1st quarter worth about $54,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Fluor by 7.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after purchasing an additional 248 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have commented on FLR. Robert W. Baird increased their price target on shares of Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Truist Financial reissued a “buy” rating and issued a $71.00 target price (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Zacks Research raised shares of Fluor from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. UBS Group upped their price objective on shares of Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Barclays upped their target price on shares of Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.33.
Fluor Trading Down 2.5%
NYSE:FLR opened at $53.38 on Wednesday. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of -4.35, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. The business’s 50-day simple moving average is $51.32 and its 200 day simple moving average is $48.90. Fluor Corporation has a one year low of $39.33 and a one year high of $57.93.
Fluor (NYSE:FLR – Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts predict that Fluor Corporation will post 2.66 earnings per share for the current fiscal year.
Insider Buying and Selling at Fluor
In other news, insider Pierre Edward Bechelany sold 5,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the sale, the insider owned 36,064 shares in the company, valued at approximately $1,992,175.36. This represents a 12.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.70% of the company’s stock.
About Fluor
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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