Fluor Corporation $FLR Position Increased by Engineers Gate Manager LP

Engineers Gate Manager LP boosted its holdings in Fluor Corporation (NYSE:FLR) by 49.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,131 shares of the construction company’s stock after buying an additional 14,331 shares during the quarter. Engineers Gate Manager LP’s holdings in Fluor were worth $2,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. HB Wealth Management LLC grew its holdings in shares of Fluor by 7.2% in the 2nd quarter. HB Wealth Management LLC now owns 5,191 shares of the construction company’s stock worth $272,000 after acquiring an additional 348 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Fluor by 16.4% during the first quarter. Parallel Advisors LLC now owns 2,667 shares of the construction company’s stock valued at $124,000 after purchasing an additional 375 shares during the last quarter. Root Financial Partners LLC boosted its position in shares of Fluor by 121.4% in the 1st quarter. Root Financial Partners LLC now owns 826 shares of the construction company’s stock valued at $39,000 after purchasing an additional 453 shares during the period. NewEdge Advisors LLC increased its stake in Fluor by 10.0% in the 2nd quarter. NewEdge Advisors LLC now owns 5,092 shares of the construction company’s stock worth $267,000 after purchasing an additional 464 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in Fluor during the 2nd quarter worth about $25,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Robert W. Baird raised 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. Citigroup upped their price target on shares of Fluor from $56.00 to $68.00 and gave the company a “buy” rating 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 research note on Tuesday, August 11th. UBS Group lifted 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, Wall Street Zen raised shares of Fluor from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $63.33.

Insider Buying and Selling

In other Fluor news, insider Pierre Bechelany sold 5,000 shares of the company’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 transaction, the insider directly owned 36,064 shares of the company’s stock, valued at $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 is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by company insiders.

Fluor Stock Down 1.4%

FLR stock opened at $53.43 on Tuesday. The company has a 50 day moving average of $52.28 and a two-hundred day moving average of $49.72. The company has a market cap of $7.15 billion, a price-to-earnings ratio of -4.35, a PEG ratio of 1.71 and a beta of 1.26. Fluor Corporation has a 12-month low of $39.33 and a 12-month high of $58.35. 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 (NYSE:FLR) last posted its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the company posted $0.43 EPS. Fluor’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts anticipate that Fluor Corporation will post 2.64 earnings per share for the current fiscal year.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, construction and project management company. It provides design and construction services, program management, operations and maintenance, and other professional services for complex capital projects. Fluor serves clients in areas including energy, chemicals and petrochemicals, advanced technologies, infrastructure, mining and metals, and government and defense.

The company delivers projects across the full development cycle, from front-end engineering and design through procurement, construction, commissioning and ongoing operations.