Fisher Asset Management LLC Buys 121,057 Shares of Fluor Corporation $FLR

Key Points

• Fisher Asset Management LLC increased its stake in Fluor by 38.3%, buying 121,057 shares in Q3 to hold 437,164 shares worth roughly $18.39 million (about 0.27% of the company).
• Other large investors also piled in — notably DLD Asset Management (new stake ~ $1.03B), Rubric (~$205M), Sourcerock (~$85M), plus big increases from Balyasny and Ameriprise — leaving institutional ownership at 88.07%.
• Fluor trades near $48.21 (12‑month range $29.20–$57.50) with a consensus analyst view of a Moderate Buy and average target $54.33, while insiders sold about 22,110 shares over the last quarter.

Fisher Asset Management LLC grew its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 38.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 437,164 shares of the construction company's stock after acquiring an additional 121,057 shares during the quarter. Fisher Asset Management LLC owned about 0.27% of Fluor worth $18,392,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FLR. DLD Asset Management LP bought a new stake in Fluor during the 2nd quarter valued at about $1,025,400,000. Rubric Capital Management LP bought a new stake in shares of Fluor during the second quarter valued at approximately $205,080,000. Sourcerock Group LLC purchased a new position in Fluor in the 2nd quarter worth approximately $85,327,000. Balyasny Asset Management L.P. lifted its position in Fluor by 90.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,586,492 shares of the construction company's stock valued at $81,339,000 after acquiring an additional 755,337 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Fluor by 361.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company's stock valued at $77,289,000 after purchasing an additional 1,180,838 shares during the last quarter. Institutional investors own 88.07% of the company's stock.

Fluor Stock Performance

Shares of NYSE FLR opened at $48.21 on Thursday. Fluor Corporation has a 12-month low of $29.20 and a 12-month high of $57.50. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of -61.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.36. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $46.14 and a 200 day moving average of $44.45.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). The business had revenue of $4.18 billion for the quarter, compared to analysts' expectations of $4.27 billion. Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The company's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. On average, research analysts anticipate that Fluor Corporation will post 2.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Robert W. Baird upped their price target on Fluor from $45.00 to $48.00 and gave the company a "neutral" rating in a report on Wednesday, February 18th. Citigroup raised their price target on shares of Fluor from $57.00 to $61.00 and gave the company a "buy" rating in a report on Friday, February 20th. Weiss Ratings cut shares of Fluor from a "hold (c)" rating to a "sell (d+)" rating in a report on Tuesday, February 17th. Wall Street Zen upgraded shares of Fluor from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. Finally, UBS Group reiterated a "buy" rating and set a $57.00 target price on shares of Fluor in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $54.33.

Insider Activity

In related news, insider Mark E. Fields sold 5,178 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $52.36, for a total transaction of $271,120.08. Following the completion of the transaction, the insider directly owned 194,514 shares in the company, valued at approximately $10,184,753.04. The trade was a 2.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kevin B. Hammonds sold 2,988 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $52.61, for a total transaction of $157,198.68. Following the sale, the insider owned 16,273 shares in the company, valued at approximately $856,122.53. The trade was a 15.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 22,110 shares of company stock worth $1,168,920. 1.70% of the stock is currently owned by corporate insiders.

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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