Clearline Capital LP Has $26.61 Million Holdings in Fluor Corporation $FLR

Clearline Capital LP lifted its holdings in shares of Fluor Corporation (NYSE:FLR) by 32.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 632,469 shares of the construction company’s stock after purchasing an additional 154,637 shares during the period. Fluor accounts for about 1.2% of Clearline Capital LP’s portfolio, making the stock its 10th largest position. Clearline Capital LP’s holdings in Fluor were worth $26,608,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FLR. MTM Investment Management LLC acquired a new position in Fluor during the 2nd quarter worth about $26,000. CoreCap Advisors LLC increased its position in Fluor by 129.5% in the 3rd quarter. CoreCap Advisors LLC now owns 723 shares of the construction company’s stock valued at $30,000 after acquiring an additional 408 shares in the last quarter. Banque Transatlantique SA raised its stake in shares of Fluor by 312.5% in the second quarter. Banque Transatlantique SA now owns 825 shares of the construction company’s stock worth $43,000 after acquiring an additional 625 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Fluor during the first quarter worth approximately $54,000. Finally, Westfuller Advisors LLC bought a new stake in shares of Fluor during the third quarter valued at approximately $55,000. 88.07% of the stock is owned by institutional investors.

Fluor Stock Down 1.1%

NYSE:FLR opened at $43.01 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.33. Fluor Corporation has a 12-month low of $29.20 and a 12-month high of $57.50. The stock’s fifty day simple moving average is $46.73 and its 200-day simple moving average is $44.62. The firm has a market capitalization of $6.30 billion, a P/E ratio of -55.15, a P/E/G ratio of 1.07 and a beta of 1.36.

Fluor (NYSE:FLR) last released its earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). Fluor had a negative net margin of 0.34% and a positive return on equity of 7.96%. The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period in the previous year, the company posted $0.48 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts expect that Fluor Corporation will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Mark E. Fields sold 5,178 shares of Fluor stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $52.36, for a total transaction of $271,120.08. Following the transaction, the insider owned 194,514 shares of the company’s stock, valued at $10,184,753.04. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin B. Hammonds sold 2,988 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $52.61, for a total transaction of $157,198.68. Following the completion of the sale, the insider directly owned 16,273 shares of the company’s stock, valued at $856,122.53. The trade was a 15.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,110 shares of company stock worth $1,168,920 over the last ninety days. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Fluor from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Truist Financial lifted their target price on Fluor from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Citigroup raised their price target on Fluor from $57.00 to $61.00 and gave the company a “buy” rating in a report on Friday, February 20th. Weiss Ratings cut Fluor from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, February 17th. Finally, Zacks Research raised shares of Fluor from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fluor has an average rating of “Moderate Buy” and a consensus target price of $54.33.

Fluor Company 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.