Quantitative Investment Management LLC Takes $1.08 Million Position in Fluor Corporation $FLR

Quantitative Investment Management LLC purchased a new stake in Fluor Corporation (NYSE:FLR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 20,541 shares of the construction company’s stock, valued at approximately $1,076,000.

Other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in shares of Fluor in the 2nd quarter valued at $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Fluor during the fourth quarter valued at $27,000. Ancora Advisors LLC bought a new position in Fluor in the second quarter valued at about $31,000. Larson Financial Group LLC boosted its holdings 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 acquiring an additional 734 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in Fluor in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FLR. Zacks Research raised shares of Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Robert W. Baird lifted their target price on shares of Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Truist Financial reiterated a “buy” rating and set a $71.00 target price (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Citigroup increased their price target on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Barclays boosted their target price on Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Fluor currently has an average rating of “Hold” and an average price target of $63.33.

Fluor Stock Up 3.1%

Fluor stock opened at $56.22 on Wednesday. The company has a 50 day moving average of $51.65 and a 200-day moving average of $49.35. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. Fluor Corporation has a twelve month low of $39.33 and a twelve month high of $57.93. The stock has a market capitalization of $7.52 billion, a PE ratio of -4.58, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.70 by $0.21. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. On average, equities research analysts anticipate that Fluor Corporation will post 2.66 EPS for the current fiscal year.

Insider Activity at Fluor

In other news, insider Pierre Edward Bechelany sold 5,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $55.24, for a total value of $276,200.00. Following the sale, the insider directly owned 36,064 shares in the company, valued at $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 currently owned by company insiders.

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.