Empowered Funds LLC Acquires 43,078 Shares of Fluor Corporation $FLR

Key Points

• Empowered Funds LLC increased its Fluor stake by 45.2% in the first quarter, adding 43,078 shares to hold 138,342 shares worth approximately $6.45 million. Institutional investors collectively own 88.07% of FLR.
• 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. Shares opened at $52.46, near their 52-week high of $57.93.
• Analyst sentiment remains positive, with Truist, Citi and UBS raising price targets and maintaining buy ratings. Fluor has a consensus “Moderate Buy” rating and an average target price of $63.33.

Empowered Funds LLC boosted its holdings in shares of Fluor Corporation (NYSE:FLR - Free Report) by 45.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 138,342 shares of the construction company's stock after buying an additional 43,078 shares during the quarter. Empowered Funds LLC owned about 0.10% of Fluor worth $6,454,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FLR. Global Retirement Partners LLC lifted its holdings in Fluor by 91.7% in the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company's stock worth $26,000 after purchasing an additional 311 shares during the last quarter. Assetmark Inc. grew its holdings in Fluor by 249.0% during the fourth quarter. Assetmark Inc. now owns 677 shares of the construction company's stock valued at $27,000 after purchasing an additional 483 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Fluor in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC raised its position in shares of Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company's stock valued at $31,000 after purchasing an additional 734 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Fluor in the fourth quarter worth $35,000. Institutional investors own 88.07% of the company's stock.

Insider Buying and Selling at Fluor

In other news, insider Pierre Edward Bechelany sold 5,000 shares of Fluor stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the sale, the insider owned 36,064 shares of the company's stock, valued at approximately $1,992,175.36. This trade represents a 12.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.70% of the company's stock.

Fluor Stock Up 0.2%

Shares of FLR opened at $52.46 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.78 and a current ratio of 1.80. The company has a 50-day simple moving average of $51.14 and a 200-day simple moving average of $48.77. Fluor Corporation has a 52 week low of $39.33 and a 52 week high of $57.93. The firm has a market capitalization of $7.02 billion, a P/E ratio of -4.27, a P/E/G ratio of 1.64 and a beta of 1.25.

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 analysts' consensus estimates 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 business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the business earned $0.43 earnings per share. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts expect that Fluor Corporation will post 2.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

FLR has been the topic of a number of research analyst reports. Truist Financial reiterated a "buy" rating and issued a $71.00 target price (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. Citigroup boosted their target price on shares of Fluor from $56.00 to $68.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Barclays upped their price target on shares of Fluor from $40.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. Zacks Research upgraded Fluor from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, UBS Group boosted their price objective on Fluor from $59.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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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