Camelot Portfolios LLC Sells 29,700 Shares of Fluor Corporation $FLR

Key Points

• Camelot Portfolios LLC cut its stake in Fluor by 62.2%, selling 29,700 shares and leaving it with 18,070 shares worth about $716,000 at quarter-end.
• Several large institutions materially increased or initiated positions—including Rubric Capital and Sourcerock—and institutional ownership now stands at 88.07%.
• Fluor recently missed quarterly estimates (EPS $0.33 vs. $0.34 expected; revenue $4.18B vs. $4.27B) and Wall Street’s consensus rating is a "Hold" with a $54.33 price target.

Camelot Portfolios LLC lessened its holdings in Fluor Corporation (NYSE:FLR - Free Report) by 62.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,070 shares of the construction company's stock after selling 29,700 shares during the quarter. Camelot Portfolios LLC's holdings in Fluor were worth $716,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FLR. Rubric Capital Management LP bought a new position in shares of Fluor in the 2nd quarter valued at about $205,080,000. Sourcerock Group LLC bought a new position in shares of Fluor in the 2nd quarter valued at about $85,327,000. Ameriprise Financial Inc. boosted its stake in shares of Fluor by 361.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company's stock valued at $77,289,000 after purchasing an additional 1,180,838 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Fluor by 90.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,586,492 shares of the construction company's stock valued at $81,339,000 after purchasing an additional 755,337 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Fluor by 27.4% in the 3rd quarter. Alliancebernstein L.P. now owns 3,280,423 shares of the construction company's stock valued at $138,007,000 after purchasing an additional 704,779 shares during the last quarter. Institutional investors own 88.07% of the company's stock.

Fluor Stock Up 0.0%

Fluor stock opened at $48.25 on Monday. The company's 50 day simple moving average is $47.85 and its 200 day simple moving average is $45.70. Fluor Corporation has a fifty-two week low of $33.82 and a fifty-two week high of $57.50. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of -61.86, a PEG ratio of 1.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.91.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the business earned $0.48 EPS. The firm's revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fluor Corporation will post 2.75 EPS for the current year.

Wall Street Analysts Forecast Growth

FLR has been the topic of several recent research reports. DA Davidson raised their target price on shares of Fluor from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. UBS Group reaffirmed a "buy" rating and issued a $57.00 target price on shares of Fluor in a research note on Thursday, February 19th. Wall Street Zen raised shares of Fluor from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. Zacks Research lowered shares of Fluor from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 20th. Finally, Robert W. Baird lifted their price objective on shares of Fluor from $45.00 to $48.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 18th. 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, the company presently has a consensus rating of "Hold" and a consensus price target of $54.33.

Insider Activity

In other Fluor news, insider Michael E. Alexander sold 3,387 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $53.07, for a total transaction of $179,748.09. Following the sale, the insider directly owned 68,664 shares in the company, valued at approximately $3,643,998.48. This trade represents a 4.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark E. Fields sold 5,178 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $52.36, for a total transaction of $271,120.08. Following the sale, the insider owned 194,514 shares in the company, valued at $10,184,753.04. This trade represents a 2.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 22,110 shares of company stock worth $1,168,920. Corporate insiders own 1.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.