Fluor Corporation $FLR Stock: Orange Investment Advisors Inc. Cuts Holdings

Key Points

• Orange Investment Advisors cut its Fluor stake by 95.6% in the third quarter, selling 101,361 shares and retaining 4,614 shares worth approximately $221,000.
• Fluor reported quarterly earnings of $0.91 per share, exceeding estimates of $0.70, while revenue rose 8.8% year over year to $4.33 billion. Institutional investors and hedge funds own 88.07% of the stock.
• Analyst sentiment remains mixed: Fluor has a consensus “Hold” rating and an average price target of $63.33, with targets ranging from upgraded buy recommendations to a recent sell downgrade.

Orange Investment Advisors Inc. trimmed its holdings in shares of Fluor Corporation (NYSE:FLR - Free Report) by 95.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,614 shares of the construction company's stock after selling 101,361 shares during the quarter. Orange Investment Advisors Inc.'s holdings in Fluor were worth $221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Maverick Capital Ltd. bought a new position in shares of Fluor during the first quarter valued at $66,036,000. Moore Capital Management LP grew its stake in shares of Fluor by 220.0% in the second quarter. Moore Capital Management LP now owns 520,000 shares of the construction company's stock worth $27,243,000 after purchasing an additional 357,521 shares during the last quarter. Troluce Capital Advisors LLC bought a new stake in shares of Fluor in the first quarter worth $18,660,000. Principal Financial Group Inc. increased its holdings in Fluor by 3.7% in the first quarter. Principal Financial Group Inc. now owns 362,226 shares of the construction company's stock valued at $16,898,000 after purchasing an additional 13,082 shares during the period. Finally, First Trust Advisors LP increased its holdings in Fluor by 34.9% in the first quarter. First Trust Advisors LP now owns 337,029 shares of the construction company's stock valued at $15,722,000 after purchasing an additional 87,174 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fluor news, insider Pierre Bechelany sold 5,000 shares of the stock in a transaction dated Friday, August 7th. The stock was 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 in the company, valued at approximately $1,992,175.36. This trade represents a 12.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.70% of the company's stock.

Fluor Trading Down 0.0%

NYSE:FLR opened at $44.05 on Monday. The firm's fifty day moving average is $51.75 and its 200-day moving average is $50.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. Fluor Corporation has a 52 week low of $39.33 and a 52 week high of $58.35. The firm has a market cap of $5.89 billion, a P/E ratio of -3.59, a P/E/G ratio of 0.91 and a beta of 1.28.

Fluor (NYSE:FLR - Get Free Report) last announced its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.21. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. Fluor's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 earnings per share. Equities analysts expect that Fluor Corporation will post 2.69 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on FLR shares. Zacks Research raised Fluor from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Truist Financial reiterated a "buy" rating and issued a $71.00 price target (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Citigroup reissued a "buy" rating on shares of Fluor in a research note on Friday. Wall Street Zen upgraded Fluor from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Weiss Ratings lowered Fluor from a "hold (c)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $63.33.

Fluor Company Profile

Fluor Corporation is a global engineering, procurement, construction and project-management company serving government and commercial clients. The company provides design and construction services, project development, procurement, maintenance, operations support and consulting for complex infrastructure and industrial projects.

Fluor's activities span energy, chemicals and advanced technologies, infrastructure, mining and metals, life sciences, and government and national-security programs.

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