Empowered Funds LLC Takes $4.60 Million Position in Fluor Corporation $FLR

Key Points

• Empowered Funds LLC acquired 87,840 Fluor shares worth approximately $4.60 million during the second quarter, giving it a 0.07% stake. Institutional investors collectively own 88.07% of Fluor.
• Fluor reported quarterly EPS of $0.91, beating estimates by $0.21, while revenue reached $4.33 billion and increased 8.8% year over year.
• Analyst sentiment remains mixed but improved overall: Fluor has an average “Hold” rating and a consensus price target of $63.33, compared with its recent share price near $54.51.

Empowered Funds LLC purchased a new position in Fluor Corporation (NYSE:FLR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 87,840 shares of the construction company's stock, valued at approximately $4,602,000. Empowered Funds LLC owned about 0.07% of Fluor as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in Fluor by 40.3% during the first quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company's stock worth $361,000 after buying an additional 2,896 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Fluor by 337.7% in the first quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company's stock valued at $587,000 after acquiring an additional 12,645 shares during the last quarter. Caxton Associates LLP bought a new position in shares of Fluor during the 1st quarter valued at approximately $266,000. Acadian Asset Management LLC bought a new position in shares of Fluor during the 1st quarter valued at approximately $54,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company's stock worth $194,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 88.07% of the company's stock.

Fluor Stock Up 2.3%

Fluor stock opened at $54.51 on Tuesday. The firm has a 50 day simple moving average of $51.59 and a 200 day simple moving average of $49.29. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38. Fluor Corporation has a 1-year low of $39.33 and a 1-year high of $57.93. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of -4.44, a P/E/G ratio of 1.67 and a beta of 1.25.

Fluor (NYSE:FLR - Get Free Report) last posted its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.21. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The business's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 earnings per share. On average, analysts predict that Fluor Corporation will post 2.66 earnings per share for the current year.

Insider Buying and Selling

In other Fluor news, insider Pierre Edward Bechelany sold 5,000 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $55.24, for a total value of $276,200.00. Following the completion of the transaction, the insider owned 36,064 shares in the company, valued at $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 is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Zacks Research upgraded Fluor from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Barclays raised their target price on Fluor from $40.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. Wall Street Zen raised Fluor from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Truist Financial reiterated a "buy" rating and set a $71.00 price target (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. Finally, Robert W. Baird lifted their price objective on Fluor from $49.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $63.33.

About Fluor

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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