GSA Capital Partners LLP Invests $2.12 Million in Fluor Corporation $FLR

Key Points

• GSA Capital Partners initiated a new position in Fluor, buying 53,518 shares worth about $2.12 million in the fourth quarter.
• Several other institutional investors also increased their Fluor holdings, and hedge funds and other institutions now own 88.07% of the stock.
• Fluor reported weaker recent results, with quarterly EPS of $0.14 versus $0.66 expected and revenue of $3.66 billion below estimates; shares were down 4.1% and analysts currently rate the stock a Moderate Buy with a $53.33 average target.

GSA Capital Partners LLP bought a new stake in shares of Fluor Corporation (NYSE:FLR - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 53,518 shares of the construction company's stock, valued at approximately $2,121,000.

Several other hedge funds have also modified their holdings of the stock. Rubric Capital Management LP raised its holdings in shares of Fluor by 12.5% during the 3rd quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company's stock valued at $189,315,000 after buying an additional 500,000 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Fluor by 8.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,137,672 shares of the construction company's stock valued at $174,077,000 after buying an additional 328,122 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Fluor by 27.4% during the 3rd quarter. Alliancebernstein L.P. now owns 3,280,423 shares of the construction company's stock valued at $138,007,000 after buying an additional 704,779 shares during the period. Northern Trust Corp grew its stake in Fluor by 0.3% during the 3rd quarter. Northern Trust Corp now owns 2,109,240 shares of the construction company's stock valued at $88,736,000 after purchasing an additional 6,675 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Fluor by 38.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,963,964 shares of the construction company's stock valued at $82,624,000 after purchasing an additional 546,182 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Fluor news, insider Kevin B. Hammonds sold 2,988 shares of Fluor stock in a transaction 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 of the company's stock, valued at $856,122.53. The trade was a 15.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark E. Fields sold 5,178 shares of the business's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $52.36, for a total value of $271,120.08. Following the completion of the sale, the insider directly owned 194,514 shares in the company, valued at $10,184,753.04. This represents a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,110 shares of company stock worth $1,168,920 over the last ninety days. 1.70% of the stock is currently owned by company insiders.

Fluor Stock Down 4.1%

Shares of Fluor stock opened at $42.53 on Wednesday. The business's fifty day moving average price is $47.18 and its two-hundred day moving average price is $45.72. 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 $5.94 billion, a P/E ratio of 24.73, a PEG ratio of 1.35 and a beta of 1.33. Fluor Corporation has a 1-year low of $37.33 and a 1-year high of $57.50.

Fluor (NYSE:FLR - Get Free Report) last announced its earnings results 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 business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. The firm's revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS. As a group, research analysts forecast that Fluor Corporation will post 2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FLR shares. Robert W. Baird raised their price objective on Fluor from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Citigroup decreased their target price on Fluor from $61.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Wall Street Zen upgraded Fluor from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Zacks Research lowered Fluor from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 20th. Finally, Weiss Ratings upgraded Fluor from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $53.33.

Fluor Company 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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