Fox Run Management L.L.C. Purchases New Stake in Fluor Corporation $FLR

Fox Run Management L.L.C. acquired a new position in shares of Fluor Corporation (NYSE:FLR) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,789 shares of the construction company’s stock, valued at approximately $622,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. DLD Asset Management LP acquired a new stake in shares of Fluor during the 2nd quarter worth approximately $1,025,400,000. Rubric Capital Management LP bought a new stake in Fluor during the second quarter worth $205,080,000. Sourcerock Group LLC acquired a new stake in shares of Fluor in the 2nd quarter valued at $85,327,000. Ameriprise Financial Inc. boosted its holdings in shares of Fluor by 361.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company’s stock valued at $77,289,000 after purchasing an additional 1,180,838 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Fluor by 90.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,586,492 shares of the construction company’s stock worth $81,339,000 after buying an additional 755,337 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FLR. Wall Street Zen raised Fluor from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. UBS Group reissued a “buy” rating and issued a $57.00 target price on shares of Fluor in a report on Thursday, February 19th. Truist Financial raised their price target on shares of Fluor from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Weiss Ratings cut shares of Fluor from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, February 17th. Finally, DA Davidson increased their price objective on shares of Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Fluor presently has an average rating of “Moderate Buy” and a consensus target price of $54.33.

Fluor Stock Performance

NYSE:FLR opened at $52.27 on Friday. The stock’s 50-day moving average is $45.63 and its 200-day moving average is $44.30. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $57.50. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.33. The stock has a market cap of $7.66 billion, a P/E ratio of -67.02, a price-to-earnings-growth ratio of 1.32 and a beta of 1.37.

Fluor (NYSE:FLR) last posted its 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 business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts anticipate that Fluor Corporation will post 2.5 earnings per share for the current year.

Insider Buying and Selling

In other Fluor news, insider Tracey H. Cook sold 2,589 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $53.22, for a total value of $137,786.58. Following the sale, the insider owned 10,731 shares in the company, valued at approximately $571,103.82. The trade was a 19.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark E. Fields sold 5,178 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $52.36, for a total value of $271,120.08. Following the completion of the sale, the insider directly owned 194,514 shares of the company’s stock, valued at approximately $10,184,753.04. The trade was a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,110 shares of company stock valued at $1,168,920 over the last quarter. 1.70% of the stock is currently owned by company 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.