OneAscent Financial Services LLC Acquires Shares of 25,571 Fluor Corporation $FLR

OneAscent Financial Services LLC acquired a new stake in shares of Fluor Corporation (NYSE:FLR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 25,571 shares of the construction company’s stock, valued at approximately $1,340,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Seelaus Asset Management LLC increased its stake in Fluor by 2.9% during the 4th quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company’s stock worth $348,000 after buying an additional 245 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Fluor by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after acquiring an additional 248 shares in the last quarter. Global Retirement Partners LLC grew its stake in Fluor by 91.7% during the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after purchasing an additional 311 shares in the last quarter. Parallel Advisors LLC increased its holdings in Fluor by 16.4% during the 1st quarter. Parallel Advisors LLC now owns 2,667 shares of the construction company’s stock worth $124,000 after purchasing an additional 375 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Fluor by 18.7% in the 4th quarter. UMB Bank n.a. now owns 2,438 shares of the construction company’s stock valued at $97,000 after purchasing an additional 384 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Barclays lifted their price target on shares of Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Truist Financial restated a “buy” rating and issued a $71.00 target price (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. Wall Street Zen upgraded Fluor from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Fluor in a report on Friday, August 7th. Finally, Citigroup increased their target price on Fluor from $56.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Fluor currently has an average rating of “Moderate Buy” and an average target price of $63.33.

Fluor Price Performance

FLR opened at $52.28 on Friday. 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 company’s 50-day moving average price is $51.51 and its 200 day moving average price is $49.00. Fluor Corporation has a fifty-two week low of $39.33 and a fifty-two week high of $57.93. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of -4.26, a price-to-earnings-growth ratio of 1.70 and a beta of 1.25.

Fluor (NYSE:FLR) last issued its 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 during the quarter, compared to the consensus estimate of $3.92 billion. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.Fluor’s quarterly 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 earnings per share. As a group, sell-side analysts expect that Fluor Corporation will post 2.66 earnings per share for the current year.

Insider Transactions at Fluor

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the completion of the transaction, the insider directly owned 36,064 shares in the company, valued at $1,992,175.36. This represents a 12.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by corporate insiders.

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.