First Trust Advisors LP Has $15.72 Million Stock Holdings in Fluor Corporation $FLR

Key Points

• First Trust Advisors increased its Fluor stake by 34.9% in the first quarter, owning 337,029 shares valued at approximately $15.72 million. Institutional investors collectively hold 88.07% of Fluor’s outstanding stock.
• Analyst sentiment is mixed, with four Buy, two Hold and one Sell rating; the consensus rating is Hold with an average price target of $57.20.
• Fluor shares opened at $46.83 after declining 5.1%, while the company’s latest quarterly results missed expectations: adjusted earnings were $0.14 per share versus the $0.66 consensus, and revenue fell 8% year over year to $3.66 billion.

First Trust Advisors LP raised its stake in Fluor Corporation (NYSE:FLR - Free Report) by 34.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 337,029 shares of the construction company's stock after purchasing an additional 87,174 shares during the period. First Trust Advisors LP owned 0.24% of Fluor worth $15,722,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FLR. Starboard Value LP bought a new stake in shares of Fluor during the 4th quarter worth about $205,732,000. AQR Capital Management LLC lifted its position in Fluor by 163.1% during the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company's stock worth $204,795,000 after acquiring an additional 3,203,712 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fluor by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company's stock worth $178,962,000 after acquiring an additional 377,985 shares during the period. Rubric Capital Management LP grew its position in shares of Fluor by 12.5% in the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company's stock valued at $189,315,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Fluor by 0.6% during the fourth quarter. Morgan Stanley now owns 3,405,733 shares of the construction company's stock worth $134,969,000 after purchasing an additional 20,210 shares during the period. 88.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FLR. Weiss Ratings upgraded Fluor from a "sell (d+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Robert W. Baird increased their price objective on Fluor from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Zacks Research downgraded Fluor from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 7th. Truist Financial upped their price target on shares of Fluor from $57.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Finally, Citigroup lowered their price target on shares of Fluor from $61.00 to $56.00 and set a "buy" rating on the stock 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $57.20.

Fluor Trading Down 5.1%

Shares of NYSE:FLR opened at $46.83 on Thursday. The business's 50 day simple moving average is $50.04 and its 200 day simple moving average is $48.18. Fluor Corporation has a 1 year low of $37.62 and a 1 year high of $57.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. The company has a market capitalization of $6.54 billion, a P/E ratio of 27.23, a P/E/G ratio of 1.56 and a beta of 1.23.

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

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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