Hsbc Holdings PLC Makes New $3.22 Million Investment in Fluor Corporation $FLR

Hsbc Holdings PLC acquired a new position in Fluor Corporation (NYSE:FLR) in the 2nd quarter, HoldingsChannel reports. The firm acquired 61,671 shares of the construction company’s stock, valued at approximately $3,218,000.

Several other hedge funds also recently modified their holdings of FLR. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Fluor in the 4th quarter worth $1,350,000. Empowered Funds LLC boosted its stake in shares of Fluor by 45.2% in the 1st quarter. Empowered Funds LLC now owns 138,342 shares of the construction company’s stock worth $6,454,000 after buying an additional 43,078 shares during the last quarter. State of Wyoming bought a new position in shares of Fluor in the second quarter valued at approximately $1,358,000. Energy Income Partners LLC bought a new position in shares of Fluor in the second quarter valued at approximately $5,826,000. Finally, Pacific Heights Asset Management LLC lifted its holdings in Fluor by 23.1% during the fourth quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company’s stock worth $15,852,000 after acquiring an additional 75,000 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

FLR has been the topic of several research analyst reports. UBS Group boosted their price objective on Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Citigroup lifted their target price on Fluor from $56.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Barclays boosted their price target on shares of Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Truist Financial restated a “buy” rating and set a $71.00 price target (up from $64.00) on shares of Fluor 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 report on Saturday, August 15th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fluor has a consensus rating of “Hold” 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 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 $1,992,175.36. This trade represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by company insiders.

Fluor Stock Performance

NYSE:FLR opened at $53.35 on Friday. The company has a market capitalization of $7.14 billion, a P/E ratio of -4.34, a P/E/G ratio of 1.67 and a beta of 1.25. The business has a fifty day simple moving average of $51.59 and a two-hundred day simple moving average of $49.24. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.80. Fluor Corporation has a 1 year low of $39.33 and a 1 year high of $57.93.

Fluor (NYSE:FLR) last issued 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. 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 for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts expect that Fluor Corporation will post 2.66 earnings per share for the current year.

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.