71,100 Shares in Fluor Corporation $FLR Acquired by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC acquired a new stake in Fluor Corporation (NYSE:FLR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 71,100 shares of the construction company’s stock, valued at approximately $3,725,000. Fluor makes up 1.2% of Manatuck Hill Partners LLC’s investment portfolio, making the stock its 26th biggest position. Manatuck Hill Partners LLC owned approximately 0.05% of Fluor at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Fluor in the fourth quarter valued at about $1,350,000. Empowered Funds LLC grew its stake in Fluor by 45.2% in the 1st quarter. Empowered Funds LLC now owns 138,342 shares of the construction company’s stock valued at $6,454,000 after acquiring an additional 43,078 shares during the last quarter. State of Wyoming purchased a new position in shares of Fluor during the 2nd quarter worth approximately $1,358,000. Energy Income Partners LLC purchased a new stake in shares of Fluor in the second quarter valued at $5,826,000. Finally, Pacific Heights Asset Management LLC boosted its stake in shares of Fluor by 23.1% during the 4th quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company’s stock worth $15,852,000 after purchasing an additional 75,000 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

NYSE:FLR opened at $51.34 on Wednesday. The company has a 50-day moving average of $51.57 and a 200-day moving average of $49.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of -4.18, a PEG ratio of 1.61 and a beta of 1.25. Fluor Corporation has a 52 week low of $39.33 and a 52 week high of $57.93.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. 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. Fluor’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Fluor Corporation will post 2.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fluor news, insider Pierre Edward Bechelany sold 5,000 shares of the stock in a transaction dated 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. This represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FLR. Citigroup increased 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. Robert W. Baird lifted their price target on Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Weiss Ratings downgraded Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday. Barclays increased their target price on shares of Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report 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, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.33.

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.