Forum Financial Management LP Acquires Shares of 6,181 Fluor Corporation (NYSE:FLR)

Forum Financial Management LP purchased a new stake in Fluor Corporation (NYSE:FLR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,181 shares of the construction company's stock, valued at approximately $221,000.

Several other hedge funds have also made changes to their positions in FLR. Sterling Capital Management LLC boosted its position in shares of Fluor by 196.2% during the 4th quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock worth $30,000 after purchasing an additional 408 shares during the period. SBI Securities Co. Ltd. boosted its position in shares of Fluor by 222.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company's stock worth $39,000 after purchasing an additional 760 shares during the period. Versant Capital Management Inc boosted its position in shares of Fluor by 121.5% during the 1st quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company's stock worth $43,000 after purchasing an additional 666 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Fluor by 104.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company's stock worth $49,000 after purchasing an additional 701 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Fluor during the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Stock Up 2.0%

NYSE:FLR traded up $1.06 during midday trading on Friday, hitting $54.99. 3,114,410 shares of the company were exchanged, compared to its average volume of 2,687,846. The company has a fifty day simple moving average of $46.76 and a 200 day simple moving average of $42.59. Fluor Corporation has a fifty-two week low of $29.20 and a fifty-two week high of $60.10. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $9.05 billion, a PE ratio of 5.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.34.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.50 by $0.23. Fluor had a net margin of 11.13% and a return on equity of 14.59%. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the business earned $0.47 EPS. Fluor's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities analysts anticipate that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup decreased their price target on shares of Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, April 25th. KeyCorp cut shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price target for the company. in a research report on Tuesday. UBS Group reissued a "buy" rating and issued a $60.00 price target (up previously from $48.00) on shares of Fluor in a research report on Tuesday, June 24th. Wall Street Zen cut shares of Fluor from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Truist Financial raised their price objective on shares of Fluor from $47.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $50.86.

Insider Buying and Selling at Fluor

In related news, Chairman David E. Constable sold 38,600 shares of Fluor stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total transaction of $2,011,446.00. Following the sale, the chairman directly owned 792,027 shares in the company, valued at $41,272,526.97. This trade represents a 4.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alvin C. Collins III sold 18,920 shares of Fluor stock in a transaction on Monday, June 9th. The stock was sold at an average price of $45.43, for a total transaction of $859,535.60. Following the sale, the insider owned 64,383 shares in the company, valued at $2,924,919.69. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,320 shares of company stock worth $4,870,182 over the last quarter. 1.70% of the stock is owned by company insiders.

Fluor Company Profile

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.