AXQ Capital LP Makes New Investment in Fluor Corporation $FLR

Key Points

• AXQ Capital LP acquired 27,425 Fluor shares during the second quarter, valued at approximately $1.44 million. Institutional investors collectively own 88.07% of Fluor’s outstanding stock.
• Fluor reported quarterly earnings of $0.91 per share, beating estimates of $0.70, while revenue rose 8.8% year over year to $4.33 billion.
• Analyst sentiment remains mixed but improved: UBS and Citigroup raised their price targets and maintained Buy ratings, while the overall consensus rating is Hold with an average target of $63.33.

AXQ Capital LP acquired a new position in Fluor Corporation (NYSE:FLR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 27,425 shares of the construction company's stock, valued at approximately $1,437,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC boosted its stake in Fluor by 40.3% in the 1st 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 grew 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 in the last quarter. Caxton Associates LLP acquired a new position in Fluor in the 1st quarter valued at approximately $266,000. Acadian Asset Management LLC acquired a new position in Fluor in the 1st quarter valued at approximately $54,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Fluor by 7.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company's stock worth $194,000 after buying an additional 248 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fluor

In other news, insider Pierre Bechelany sold 5,000 shares of the firm's 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 trade represents a 12.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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.

Fluor Stock Performance

Shares of NYSE:FLR opened at $56.15 on Friday. Fluor Corporation has a 1 year low of $39.33 and a 1 year high of $58.35. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of -4.57, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.80. The company's 50 day simple moving average is $51.84 and its 200 day simple moving average is $49.56.

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

Analyst Ratings Changes

A number of research firms recently issued reports on FLR. Robert W. Baird lifted their price objective on Fluor from $49.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. UBS Group boosted their price target on Fluor from $59.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Citigroup lifted their target price on shares of 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 report on Tuesday, August 11th. Finally, Barclays lifted their price objective on Fluor from $40.00 to $50.00 and gave the company an "equal weight" rating in a research report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Fluor has a consensus rating of "Hold" and an average price target of $63.33.

About Fluor

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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