OneAscent Financial Services LLC Makes New $1.34 Million Investment in Fluor Corporation $FLR

OneAscent Financial Services LLC purchased a new stake in shares of Fluor Corporation (NYSE:FLR) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 25,571 shares of the construction company’s stock, valued at approximately $1,340,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC bought a new position in Fluor in the 2nd quarter worth approximately $25,000. Assetmark Inc. raised its stake in Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after acquiring an additional 483 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Fluor during the 4th quarter worth $27,000. Larson Financial Group LLC grew its stake in shares of Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after purchasing an additional 734 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of Fluor in the fourth quarter worth $35,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Trading Down 3.3%

Shares of Fluor stock opened at $52.28 on Friday. The business has a fifty day simple moving average of $51.51 and a 200-day simple moving average of $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. 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 released its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $3.92 billion. During the same period in the previous year, the company earned $0.43 earnings per share. Fluor’s revenue was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that Fluor Corporation will post 2.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on FLR. Wall Street Zen upgraded shares of 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 research note on Friday, August 7th. 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. Citigroup upped their price target on shares of Fluor from $56.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Zacks Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.33.

Insider Activity

In other news, insider Pierre Edward Bechelany sold 5,000 shares of Fluor stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the transaction, the insider owned 36,064 shares of the company’s stock, valued at $1,992,175.36. The trade was a 12.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by corporate insiders.

About Fluor

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.