Meeder Asset Management Inc. Acquires Shares of 52,036 Fluor Corporation $FLR

Meeder Asset Management Inc. bought a new position in Fluor Corporation (NYSE:FLR) in the second quarter, HoldingsChannel reports. The fund bought 52,036 shares of the construction company’s stock, valued at approximately $2,726,000.

A number of other institutional investors also recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new position in shares of Fluor during the 2nd quarter valued at $25,000. Assetmark Inc. raised its holdings in shares of Fluor by 249.0% during the fourth quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock worth $27,000 after acquiring an additional 483 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Fluor during the fourth quarter valued at $27,000. Larson Financial Group LLC grew its stake in Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after purchasing an additional 734 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in Fluor in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Stock Down 2.5%

Shares of Fluor stock opened at $53.38 on Wednesday. Fluor Corporation has a 12-month low of $39.33 and a 12-month high of $57.93. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $51.32 and a two-hundred day moving average price of $48.90. The stock has a market capitalization of $7.14 billion, a P/E ratio of -4.35, a PEG ratio of 1.64 and a beta of 1.25.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.21. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 earnings per share. Equities analysts expect that Fluor Corporation will post 2.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FLR shares. Robert W. Baird raised their price target on Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Truist Financial restated a “buy” rating and issued a $71.00 price objective (up from $64.00) on shares of Fluor in a report on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fluor in a research report on Friday, August 7th. Zacks Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Citigroup boosted their target price on shares of Fluor from $56.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Fluor has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Insider Buying and Selling

In other Fluor news, insider Pierre Edward Bechelany sold 5,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $1,992,175.36. The trade was a 12.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by company insiders.

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.