First National Bank of Omaha Purchases Shares of 165,091 Fluor Corporation $FLR

Key Points

• First National Bank of Omaha acquired 165,091 Fluor shares worth approximately $8.8 million, joining other institutional investors that have recently increased their positions. Institutions collectively own 88.07% of Fluor’s stock.
• Analysts raised several price targets, including Truist Financial’s increase to $71 and UBS Group’s to $66. Fluor has a “Moderate Buy” consensus rating with an average price target of $63.33.
• Fluor reported quarterly EPS of $0.91, exceeding estimates of $0.70, while revenue rose 8.8% year over year to $4.33 billion. The stock opened at $53.38, down 2.5% in the reported session.

First National Bank of Omaha acquired a new position in Fluor Corporation (NYSE:FLR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 165,091 shares of the construction company's stock, valued at approximately $8,804,000. First National Bank of Omaha owned 0.12% of Fluor as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Fluor during the fourth quarter valued at approximately $1,350,000. Empowered Funds LLC boosted its position in shares of Fluor by 45.2% during the first quarter. Empowered Funds LLC now owns 138,342 shares of the construction company's stock worth $6,454,000 after acquiring an additional 43,078 shares during the last quarter. State of Wyoming purchased a new position in Fluor during the second quarter valued at $1,358,000. Pacific Heights Asset Management LLC grew its stake in Fluor by 23.1% during 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. Finally, Mutual Advisors LLC bought a new stake in Fluor in the 4th quarter valued at $863,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays increased their price objective 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. Truist Financial reiterated a "buy" rating and issued a $71.00 target price (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. UBS Group increased their price target on Fluor from $59.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Wall Street Zen upgraded Fluor from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Fluor in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $63.33.

Fluor Trading Down 2.5%

FLR opened at $53.38 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. The stock's 50 day moving average price is $51.32 and its 200-day moving average price is $48.90. Fluor Corporation has a one year low of $39.33 and a one year high of $57.93. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of -4.35, a P/E/G ratio of 1.64 and a beta of 1.25.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) 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 firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company earned $0.43 EPS. Fluor's quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that Fluor Corporation will post 2.66 EPS for the current year.

Insider Buying and Selling at Fluor

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

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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