MMCAP International Inc. SPC Takes $4.21 Million Position in Fluor Corporation $FLR

MMCAP International Inc. SPC bought a new stake in Fluor Corporation (NYSE:FLR) in the 3rd quarter, Holdings Channel.com reports. The fund bought 100,000 shares of the construction company’s stock, valued at approximately $4,207,000.

A number of other hedge funds have also recently added to or reduced their stakes in FLR. Farther Finance Advisors LLC increased its stake in shares of Fluor by 6.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,591 shares of the construction company’s stock valued at $151,000 after acquiring an additional 223 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Fluor by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after purchasing an additional 248 shares during the period. Brighton Jones LLC increased its position in Fluor by 3.1% during the third quarter. Brighton Jones LLC now owns 9,060 shares of the construction company’s stock worth $381,000 after purchasing an additional 273 shares during the last quarter. Truist Financial Corp raised its stake in Fluor by 5.7% during the third quarter. Truist Financial Corp now owns 5,361 shares of the construction company’s stock worth $226,000 after purchasing an additional 288 shares during the period. Finally, Profund Advisors LLC boosted its holdings in shares of Fluor by 5.6% in the 3rd quarter. Profund Advisors LLC now owns 6,642 shares of the construction company’s stock valued at $279,000 after purchasing an additional 354 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FLR shares. Wall Street Zen upgraded Fluor from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Zacks Research upgraded Fluor from a “hold” rating to a “strong-buy” rating in a research note on Thursday. UBS Group reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Fluor in a research note on Thursday. Truist Financial increased their target price on shares of Fluor from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, DA Davidson raised their price target on shares of Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fluor presently has a consensus rating of “Moderate Buy” and an average price target of $52.29.

Fluor Price Performance

FLR stock opened at $53.67 on Monday. The firm has a market cap of $7.87 billion, a P/E ratio of -68.80, a price-to-earnings-growth ratio of 1.37 and a beta of 1.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 1.91. Fluor Corporation has a 1 year low of $29.20 and a 1 year high of $57.50. The stock has a 50-day simple moving average of $44.56 and a 200-day simple moving average of $43.97.

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

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.