Pallas Capital Advisors LLC Invests $493,000 in Fluor Corporation $FLR

Pallas Capital Advisors LLC purchased a new position in shares of Fluor Corporation (NYSE:FLR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 9,406 shares of the construction company’s stock, valued at approximately $493,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FLR. Starboard Value LP bought a new position in Fluor during the 4th quarter worth $205,732,000. Rubric Capital Management LP bought a new stake in shares of Fluor in the second quarter valued at about $205,080,000. AQR Capital Management LLC grew its stake in shares of Fluor by 163.1% in the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock valued at $204,795,000 after acquiring an additional 3,203,712 shares in the last quarter. Sourcerock Group LLC bought a new position in Fluor during the second quarter worth about $85,327,000. Finally, Maverick Capital Ltd. bought a new position in Fluor during the first quarter worth about $66,036,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FLR has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fluor in a research report on Friday, August 7th. Truist Financial reiterated a “buy” rating and issued a $71.00 price target (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. Wall Street Zen raised Fluor from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Citigroup lifted their price objective on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Fluor currently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

Fluor Price Performance

Shares of NYSE:FLR opened at $54.03 on Thursday. 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 stock has a market capitalization of $7.23 billion, a PE ratio of -4.40, a PEG ratio of 1.68 and a beta of 1.25. The firm has a 50 day moving average of $51.46 and a 200-day moving average of $48.95. Fluor Corporation has a 12 month low of $39.33 and a 12 month high of $57.93.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.70 by $0.21. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 earnings per share. On average, equities research analysts predict that Fluor Corporation will post 2.66 EPS for the current fiscal year.

Insider Buying and Selling 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 sale, 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently 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.