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

Key Points

• Empowered Funds increased its Fluor position by 45.2% in the first quarter, purchasing 43,078 additional shares to hold 138,342 shares valued at approximately $6.45 million. Institutional investors and hedge funds collectively own 88.07% of FLR.
• Fluor reported disappointing first-quarter results, with earnings of $0.14 per share versus the $0.66 consensus estimate and revenue of $3.66 billion, down 8% year over year and below expectations.
• Analyst sentiment remains mixed: Fluor has a consensus “Hold” rating and an average price target of $57.20, compared with its recent trading price near $50.17.

Empowered Funds LLC lifted its position in Fluor Corporation (NYSE:FLR - Free Report) by 45.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FLR. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Fluor during the 4th quarter worth approximately $1,350,000. Pacific Heights Asset Management LLC grew its stake in shares of Fluor by 23.1% in the fourth quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company's stock valued at $15,852,000 after acquiring an additional 75,000 shares in the last quarter. Mutual Advisors LLC bought a new position in shares of Fluor during the fourth quarter worth approximately $863,000. CWM LLC increased its stake in Fluor by 68.1% during the 4th quarter. CWM LLC now owns 91,639 shares of the construction company's stock worth $3,632,000 after acquiring an additional 37,112 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of Fluor in the fourth quarter worth $2,121,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Trading Up 0.2%

FLR opened at $50.17 on Friday. The firm has a market capitalization of $7.01 billion, a PE ratio of 29.17, a P/E/G ratio of 1.59 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. Fluor Corporation has a fifty-two week low of $37.62 and a fifty-two week high of $57.00. The company's 50-day moving average is $50.26 and its 200 day moving average is $48.24.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the firm posted $0.73 earnings per share. The business's revenue for the quarter was down 8.0% on a year-over-year basis. As a group, research analysts predict that Fluor Corporation will post 2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FLR shares. Zacks Research cut Fluor from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 7th. Truist Financial upped their price objective on Fluor from $57.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Citigroup lowered their target price on Fluor from $61.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Robert W. Baird raised their price target on shares of Fluor from $48.00 to $49.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Finally, Weiss Ratings raised Fluor from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fluor currently has a consensus rating of "Hold" and a consensus target price of $57.20.

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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