Kingsview Wealth Management LLC acquired a new stake in shares of Fluor Corporation (NYSE:FLR – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,608 shares of the construction company’s stock, valued at approximately $608,000.
Several other hedge funds also recently added to or reduced their stakes in FLR. Seelaus Asset Management LLC lifted its position in shares of Fluor by 2.9% during the fourth quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company’s stock worth $348,000 after purchasing an additional 245 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Fluor by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after buying an additional 248 shares during the last quarter. Global Retirement Partners LLC raised its stake in Fluor by 91.7% during the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after buying an additional 311 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Fluor by 16.4% during the 1st quarter. Parallel Advisors LLC now owns 2,667 shares of the construction company’s stock worth $124,000 after buying an additional 375 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Fluor by 18.7% in the 4th quarter. UMB Bank n.a. now owns 2,438 shares of the construction company’s stock worth $97,000 after acquiring an additional 384 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.
Insider Activity 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 transaction of $276,200.00. Following the completion of the transaction, the insider owned 36,064 shares in the company, valued at approximately $1,992,175.36. This represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company’s stock.
Fluor Trading Up 0.2%
Fluor (NYSE:FLR – Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the business earned $0.43 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. Equities research analysts expect that Fluor Corporation will post 2.66 EPS for the current year.
Wall Street Analysts Forecast Growth
FLR has been the topic of several research reports. UBS Group upped their price target on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Citigroup boosted their target price on shares of Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Truist Financial reissued a “buy” rating and set a $71.00 target price (up from $64.00) on shares of Fluor in a report on Monday, August 10th. Robert W. Baird raised their price target on shares of Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded shares of Fluor from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.33.
Read Our Latest Stock Analysis on FLR
Fluor Profile
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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