Eminence Capital LP Makes New Investment in Fluor Corporation $FLR

Key Points

• Eminence Capital LP acquired a new stake of 405,147 shares in Fluor (NYSE:FLR) in Q3, valued at about $17.0 million and representing roughly 0.25% of the company per its latest 13F filing.
• Fluor reported Q results with $0.33 EPS (missed by $0.01) and $4.18B revenue, has a market cap of ~$6.3B, a negative P/E (-55.15), and a 52-week range of $29.20–$57.50.
• Analysts show a consensus of “Moderate Buy” with an average price target of $54.33 after several upgrades, while insiders have sold about 22,110 shares (~$1.17M) in the past 90 days.

Eminence Capital LP acquired a new stake in Fluor Corporation (NYSE:FLR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 405,147 shares of the construction company's stock, valued at approximately $17,045,000. Eminence Capital LP owned approximately 0.25% of Fluor as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Farther Finance Advisors LLC raised its position in Fluor by 6.6% in the third quarter. Farther Finance Advisors LLC now owns 3,591 shares of the construction company's stock worth $151,000 after purchasing an additional 223 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Fluor by 7.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company's stock valued at $194,000 after purchasing an additional 248 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Fluor by 3.1% in the 3rd quarter. Brighton Jones LLC now owns 9,060 shares of the construction company's stock valued at $381,000 after purchasing an additional 273 shares during the period. Clearstead Advisors LLC raised its holdings in shares of Fluor by 20.9% in the 3rd quarter. Clearstead Advisors LLC now owns 1,594 shares of the construction company's stock worth $67,000 after buying an additional 276 shares in the last quarter. Finally, Truist Financial Corp lifted its position in shares of Fluor by 5.7% during the 3rd quarter. Truist Financial Corp now owns 5,361 shares of the construction company's stock worth $226,000 after buying an additional 288 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Price Performance

Fluor stock opened at $43.01 on Friday. The business's fifty day moving average is $46.73 and its two-hundred day moving average is $44.62. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market cap of $6.30 billion, a P/E ratio of -55.15, a P/E/G ratio of 1.07 and a beta of 1.36. Fluor Corporation has a 52 week low of $29.20 and a 52 week high of $57.50.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). Fluor had a negative net margin of 0.34% and a positive return on equity of 7.96%. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The business's quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. UBS Group reiterated a "buy" rating and issued a $57.00 price target on shares of Fluor in a research report on Thursday, February 19th. Wall Street Zen upgraded shares of Fluor from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. Truist Financial upped their target price on shares of Fluor from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Zacks Research raised shares of Fluor from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 19th. Finally, Robert W. Baird boosted their price target on shares of Fluor from $45.00 to $48.00 and gave the company a "neutral" rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Fluor presently has a consensus rating of "Moderate Buy" and an average price target of $54.33.

Insider Buying and Selling

In other news, insider Kevin B. Hammonds sold 2,988 shares of the company's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $52.61, for a total transaction of $157,198.68. Following the transaction, the insider directly owned 16,273 shares in the company, valued at approximately $856,122.53. This represents a 15.51% 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. Also, insider Mark E. Fields sold 5,178 shares of the business'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 completion of the transaction, the insider owned 194,514 shares of the company's stock, valued at $10,184,753.04. This trade represents a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 22,110 shares of company stock valued at $1,168,920. Insiders own 1.70% of the company's stock.

Fluor Company 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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