58,109 Shares in Fluor Corporation $FLR Bought by Titan Investment Management LLC

Key Points

• Titan Investment Management initiated a position in Fluor by purchasing 58,109 shares valued at approximately $2.78 million, making Fluor about 2.1% of its portfolio. Institutional investors collectively own 88.07% of Fluor’s outstanding shares.
• Analyst sentiment is mixed but leans positive: four analysts rate Fluor a Buy, three rate it Hold, and one rates it Sell. The consensus target price is $63.33, with several firms recently raising their targets.
• Fluor shares opened at $43.35 after declining 6.6%, while the company reported quarterly EPS of $0.91—beating estimates of $0.70—and revenue of $4.33 billion, up 8.8% year over year.

Titan Investment Management LLC purchased a new position in shares of Fluor Corporation (NYSE:FLR - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 58,109 shares of the construction company's stock, valued at approximately $2,782,000. Fluor comprises about 2.1% of Titan Investment Management LLC's investment portfolio, making the stock its 17th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in shares of Fluor by 45.2% in the first 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 period. State of Wyoming acquired a new position in shares of Fluor in the second quarter valued at about $1,358,000. Energy Income Partners LLC bought a new position in Fluor during the second quarter worth about $5,826,000. Old West Investment Management LLC bought a new position in Fluor during the second quarter worth about $13,348,000. Finally, First National Bank of Omaha bought a new position in shares of Fluor during the second quarter worth approximately $8,804,000. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on FLR. Wall Street Zen upgraded Fluor from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Truist Financial reiterated a "buy" rating and set a $71.00 target price (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. UBS Group upped their target price on Fluor from $59.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Citigroup raised their price target on Fluor from $56.00 to $68.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Finally, Robert W. Baird boosted their price target on Fluor from $49.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Fluor currently has an average rating of "Hold" and a consensus target price of $63.33.

Insider Activity at Fluor

In related news, insider Pierre Bechelany sold 5,000 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $55.24, for a total transaction of $276,200.00. Following the transaction, the insider 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by company insiders.

Fluor Stock Down 6.6%

Shares of NYSE:FLR opened at $43.35 on Friday. The business has a fifty day simple moving average of $51.92 and a 200 day simple moving average of $50.38. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. The firm has a market cap of $5.80 billion, a P/E ratio of -3.53, a P/E/G ratio of 0.95 and a beta of 1.28. Fluor Corporation has a 12-month low of $39.33 and a 12-month high of $58.35.

Fluor (NYSE:FLR - Get Free Report) last announced its earnings results 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 for the quarter, compared to analysts' expectations of $3.92 billion. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%. The firm's revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. Analysts predict that Fluor Corporation will post 2.69 earnings per share for the current year.

About Fluor

Fluor Corporation is a global engineering, procurement, construction and project-management company serving government and commercial clients. The company provides design and construction services, project development, procurement, maintenance, operations support and consulting for complex infrastructure and industrial projects.

Fluor's activities span energy, chemicals and advanced technologies, infrastructure, mining and metals, life sciences, and government and national-security programs.

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