Entropy Technologies LP Buys New Shares in Fluor Corporation $FLR

Key Points

• Entropy Technologies LP initiated a position in Fluor by purchasing 28,503 shares worth approximately $1.33 million. Institutional investors collectively own 88.07% of the company.
• Fluor reported quarterly EPS of $0.14, missing the $0.66 consensus estimate, while revenue fell 8% year over year to $3.66 billion, below expectations of $3.89 billion.
• Analyst sentiment is mixed, with four Buy, two Hold and one Sell rating; the consensus rating is Hold with a $57.20 price target, compared with the stock’s reported price of $51.60.

Entropy Technologies LP bought a new position in Fluor Corporation (NYSE:FLR - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 28,503 shares of the construction company's stock, valued at approximately $1,330,000.

Several other hedge funds have also added to or reduced their stakes in the business. Global Retirement Partners LLC increased its holdings in shares of Fluor by 91.7% in the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company's stock worth $26,000 after buying an additional 311 shares during the period. Assetmark Inc. boosted its holdings in Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company's stock valued at $27,000 after acquiring an additional 483 shares during the period. Los Angeles Capital Management LLC purchased a new position in Fluor in the 4th quarter worth approximately $27,000. Larson Financial Group LLC lifted its position in 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 last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Fluor during the fourth quarter valued at approximately $35,000. 88.07% of the stock is owned by institutional investors.

Fluor Stock Performance

Fluor stock opened at $51.60 on Tuesday. Fluor Corporation has a fifty-two week low of $37.62 and a fifty-two week high of $57.50. The stock's 50 day simple moving average is $49.83 and its two-hundred day simple moving average is $48.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.65 and a beta of 1.23.

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

Analysts Set New Price Targets

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

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.

Want to see what other hedge funds are holding FLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fluor Corporation (NYSE:FLR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.