111,197 Shares in Fluor Corporation $FLR Purchased by Energy Income Partners LLC

Key Points

• Energy Income Partners LLC initiated a Fluor stake of 111,197 shares worth approximately $5.83 million, while institutional investors collectively own 88.07% of the company.
• Fluor reported quarterly EPS of $0.91, exceeding estimates of $0.70, and revenue of $4.33 billion, up 8.8% year over year and above analyst expectations.
• Analyst sentiment is moderately bullish: Citigroup and UBS raised their price targets to $68 and $66, respectively, while the consensus target is $63.33 versus the stock’s reported price of $53.38.

Energy Income Partners LLC purchased a new stake in Fluor Corporation (NYSE:FLR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 111,197 shares of the construction company's stock, valued at approximately $5,826,000. Energy Income Partners LLC owned approximately 0.08% of Fluor as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC lifted its position in Fluor by 40.3% in the first quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company's stock worth $361,000 after purchasing an additional 2,896 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Fluor by 337.7% in the 1st quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company's stock valued at $587,000 after buying an additional 12,645 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Fluor during the 1st quarter worth about $266,000. Acadian Asset Management LLC bought a new stake in Fluor in the first quarter valued at about $54,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Fluor by 7.0% in the second 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 in the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Fluor Stock Performance

NYSE FLR opened at $53.38 on Wednesday. Fluor Corporation has a 1-year low of $39.33 and a 1-year high of $57.93. The company has a 50 day moving average of $51.32 and a 200-day moving average of $48.90. 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 firm has a market cap of $7.14 billion, a price-to-earnings ratio of -4.35, a PEG ratio of 1.64 and a beta of 1.25.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 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 business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the company earned $0.43 EPS. Fluor's revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Fluor Corporation will post 2.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Pierre Edward Bechelany sold 5,000 shares of the 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 sale, the insider owned 36,064 shares in the company, valued at approximately $1,992,175.36. This represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 equities research analysts have weighed in on the company. Barclays lifted their price objective on Fluor from $40.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. Citigroup increased their target price on Fluor from $56.00 to $68.00 and gave the stock a "buy" rating in a report on Monday, August 10th. UBS Group boosted their price target on Fluor from $59.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Fluor in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded Fluor from a "hold" rating to a "buy" rating in a research note on Saturday. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" 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.

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