Ieq Capital LLC Buys New Shares in Fluor Corporation $FLR

Ieq Capital LLC purchased a new position in shares of Fluor Corporation (NYSE:FLR) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 128,883 shares of the construction company’s stock, valued at approximately $6,752,000.

A number of other large investors also recently modified their holdings of the business. NewEdge Advisors LLC increased its position in shares of Fluor by 40.3% in the first quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock valued at $361,000 after acquiring an additional 2,896 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Fluor by 337.7% during the first quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock valued at $587,000 after purchasing an additional 12,645 shares during the last quarter. Caxton Associates LLP bought a new position in Fluor in the first quarter valued at approximately $266,000. Acadian Asset Management LLC acquired a new position in shares of Fluor during the 1st quarter worth approximately $54,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after purchasing an additional 248 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $55.24, for a total value 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. The trade was a 12.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.70% of the company’s stock.

Fluor Stock Down 0.2%

Fluor stock opened at $52.30 on Monday. The stock has a market cap of $6.99 billion, a P/E ratio of -4.26, a P/E/G ratio of 1.65 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 Corporation has a twelve month low of $39.33 and a twelve month high of $57.93. The company’s 50-day moving average price is $51.54 and its two-hundred day moving average price is $49.04.

Fluor (NYSE:FLR) last issued its quarterly earnings data 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 company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. As a group, analysts expect that Fluor Corporation will post 2.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Zacks Research raised Fluor from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Fluor from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. UBS Group upped their price target on shares of Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Barclays increased their price target on shares of Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Finally, Robert W. Baird lifted their price objective on shares of Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a research 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.33.

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.