Maverick Capital Ltd. Invests $66.04 Million in Fluor Corporation $FLR

Maverick Capital Ltd. purchased a new position in Fluor Corporation (NYSE:FLR) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,415,557 shares of the construction company’s stock, valued at approximately $66,036,000. Maverick Capital Ltd. owned about 1.01% of Fluor at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Quantinno Capital Management LP increased its stake in Fluor by 26.0% during the 1st quarter. Quantinno Capital Management LP now owns 29,518 shares of the construction company’s stock valued at $1,377,000 after purchasing an additional 6,090 shares in the last quarter. Troluce Capital Advisors LLC purchased a new stake in shares of Fluor during the first quarter valued at approximately $18,660,000. Delta Global Management LP purchased a new stake in shares of Fluor during the first quarter valued at approximately $2,457,000. Entropy Technologies LP bought a new stake in shares of Fluor during the first quarter valued at approximately $1,330,000. Finally, Renaissance Technologies LLC purchased a new position in Fluor in the 1st quarter worth approximately $8,859,000. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

FLR stock opened at $51.60 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. Fluor Corporation has a 1 year low of $37.62 and a 1 year high of $57.50. The company has a market cap of $7.21 billion, a P/E ratio of 30.00, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. The stock’s fifty day moving average price is $49.83 and its 200-day moving average price is $48.12.

Fluor (NYSE:FLR) last posted its earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 EPS. On average, equities analysts forecast that Fluor Corporation will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

FLR has been the topic of several recent analyst reports. Robert W. Baird increased their target price on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings upgraded Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Zacks Research cut Fluor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Truist Financial lifted their price objective on Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Citigroup lowered their target price on shares of Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $57.20.

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.