Corient Private Wealth LP Buys New Shares in Fluor Corporation $FLR

Corient Private Wealth LP bought a new position in Fluor Corporation (NYSE:FLR - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 22,526 shares of the construction company's stock, valued at approximately $1,180,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Starboard Value LP purchased a new stake in Fluor during the 4th quarter valued at about $205,732,000. AQR Capital Management LLC increased its stake in Fluor by 163.1% in the 4th quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company's stock worth $204,795,000 after purchasing an additional 3,203,712 shares during the period. Dimensional Fund Advisors LP lifted its position in Fluor by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company's stock valued at $178,962,000 after purchasing an additional 377,985 shares during the last quarter. Rubric Capital Management LP boosted its stake in shares of Fluor by 12.5% during the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company's stock valued at $189,315,000 after purchasing an additional 500,000 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Fluor by 0.6% in the fourth quarter. Morgan Stanley now owns 3,405,733 shares of the construction company's stock worth $134,969,000 after purchasing an additional 20,210 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Fluor Stock Down 2.3%

Shares of Fluor stock opened at $56.15 on Friday. The company has a 50-day simple moving average of $51.84 and a two-hundred day simple moving average of $49.56. The stock has a market capitalization of $7.51 billion, a PE ratio of -4.57, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26. Fluor Corporation has a 52-week low of $39.33 and a 52-week 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 - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts anticipate that Fluor Corporation will post 2.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Pierre Bechelany sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the sale, the insider owned 36,064 shares in the company, valued at approximately $1,992,175.36. This trade represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FLR shares. Truist Financial reissued 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. Zacks Research upgraded Fluor from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Citigroup upped their price target on Fluor from $56.00 to $68.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Weiss Ratings lowered Fluor from a "hold (c)" rating to a "sell (d)" rating in a research report on Friday, August 21st. Finally, Wall Street Zen upgraded Fluor from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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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