20,541 Shares in Fluor Corporation $FLR Bought by Quantitative Investment Management LLC

Quantitative Investment Management LLC bought a new stake in Fluor Corporation (NYSE:FLR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,541 shares of the construction company’s stock, valued at approximately $1,076,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its position in Fluor by 40.3% during the 1st quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock worth $361,000 after buying an additional 2,896 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Fluor by 337.7% in the 1st quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock valued at $587,000 after acquiring an additional 12,645 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Fluor in the first quarter valued at about $266,000. Acadian Asset Management LLC bought a new stake in Fluor during the first quarter worth about $54,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Fluor by 7.0% during 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. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Stock Performance

Shares of NYSE FLR opened at $56.22 on Wednesday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $7.52 billion, a P/E ratio of -4.58, a P/E/G ratio of 1.71 and a beta of 1.26. Fluor Corporation has a 12 month low of $39.33 and a 12 month high of $57.93. The stock has a 50 day moving average of $51.65 and a 200-day moving average of $49.35.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share 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 business 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 business earned $0.43 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities research analysts predict that Fluor Corporation will post 2.66 EPS for the current year.

Analysts Set New Price Targets

FLR has been the subject of a number of analyst reports. Weiss Ratings downgraded Fluor from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Truist Financial reiterated a “buy” rating and set a $71.00 price objective (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. UBS Group increased their price objective on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a report on Monday, August 10th. Wall Street Zen raised shares of Fluor from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Robert W. Baird boosted their target price on shares of Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Fluor currently has a consensus rating of “Hold” and an average target price of $63.33.

Insider Buying and Selling at Fluor

In other news, insider Pierre Edward Bechelany sold 5,000 shares of the firm’s 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 sale, the insider owned 36,064 shares in the company, valued at approximately $1,992,175.36. This trade represents a 12.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by insiders.

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.