Engineers Gate Manager LP Acquires 14,331 Shares of Fluor Corporation $FLR

Engineers Gate Manager LP lifted its holdings in shares of Fluor Corporation (NYSE:FLR) by 49.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 43,131 shares of the construction company’s stock after buying an additional 14,331 shares during the period. Engineers Gate Manager LP’s holdings in Fluor were worth $2,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FLR. California State Teachers Retirement System grew its position in shares of Fluor by 4,306.3% in the second quarter. California State Teachers Retirement System now owns 8,232,093 shares of the construction company’s stock valued at $431,279,000 after purchasing an additional 8,045,269 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of Fluor during the 1st quarter worth about $66,036,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Fluor during the 4th quarter worth about $39,546,000. Troluce Capital Advisors LLC bought a new stake in Fluor during the 1st quarter valued at approximately $18,660,000. Finally, Moore Capital Management LP grew its holdings in Fluor by 220.0% in the 2nd quarter. Moore Capital Management LP now owns 520,000 shares of the construction company’s stock valued at $27,243,000 after buying an additional 357,521 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Buying and Selling at Fluor

In other news, insider Pierre Bechelany sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 36,064 shares of the company’s stock, valued at approximately $1,992,175.36. This represents a 12.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citigroup upped their price target on Fluor from $56.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Truist Financial reaffirmed a “buy” rating and issued a $71.00 price target (up from $64.00) on shares of Fluor in a report on Monday, August 10th. Barclays raised their price objective on Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Finally, UBS Group boosted their price objective on Fluor from $59.00 to $66.00 and gave the company a “buy” 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 company’s stock. Based on data from MarketBeat, Fluor presently has an average rating of “Hold” and an average price target of $63.33.

Fluor Price Performance

Shares of Fluor stock opened at $53.43 on Tuesday. The firm has a market cap of $7.15 billion, a P/E ratio of -4.35, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26. The firm’s 50-day simple moving average is $52.28 and its 200-day simple moving average is $49.72. Fluor Corporation has a twelve month low of $39.33 and a twelve month high of $58.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.21. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 earnings per share. As a group, research analysts expect that Fluor Corporation will post 2.64 EPS for the current fiscal year.

Fluor Profile

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, construction and project management company. It provides design and construction services, program management, operations and maintenance, and other professional services for complex capital projects. Fluor serves clients in areas including energy, chemicals and petrochemicals, advanced technologies, infrastructure, mining and metals, and government and defense.

The company delivers projects across the full development cycle, from front-end engineering and design through procurement, construction, commissioning and ongoing operations.