Hsbc Holdings PLC Acquires 22,500 Shares of Fluor Corporation $FLR

Key Points

• HSBC increased its Fluor position by 57.4% in the second quarter, buying 22,500 additional shares to hold 61,671 shares worth approximately $3.22 million. Institutional investors collectively own 88.07% of Fluor.
• Fluor reported a strong latest quarter, with EPS of $0.91 versus the $0.70 consensus and revenue of $4.33 billion, up 8.8% year over year. The stock opened at $53.58, compared with analysts’ average price target of $63.33.
• Analyst views remain mixed: four analysts rate Fluor a Buy, three a Hold, and one a Sell, resulting in a consensus “Hold” rating. Meanwhile, insider Pierre Bechelany sold 5,000 shares under a pre-arranged Rule 10b5-1 plan.

Hsbc Holdings PLC raised its position in Fluor Corporation (NYSE:FLR - Free Report) by 57.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,671 shares of the construction company's stock after purchasing an additional 22,500 shares during the quarter. Hsbc Holdings PLC's holdings in Fluor were worth $3,218,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Prosperitas Financial LLC bought a new stake in Fluor during the second quarter worth $247,000. Kingsview Wealth Management LLC acquired a new stake in shares of Fluor during the 2nd quarter worth $608,000. Pin Oak Investment Advisors Inc. acquired a new stake in Fluor during the second quarter worth about $147,000. Glenview Trust Co bought a new position in Fluor in the second quarter valued at approximately $2,475,000. Finally, Empowered Funds LLC bought a new position in shares of Fluor in the 2nd quarter valued at $4,602,000. Institutional investors own 88.07% of the company's stock.

Fluor Stock Performance

NYSE:FLR opened at $53.58 on Friday. Fluor Corporation has a 1 year low of $39.33 and a 1 year high of $58.35. The business has a fifty day simple moving average of $52.15 and a two-hundred day simple moving average of $49.70. The company has a market capitalization of $7.17 billion, a P/E ratio of -4.36, a P/E/G ratio of 1.73 and a beta of 1.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.80.

Fluor (NYSE:FLR - Get Free Report) last posted its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the business posted $0.43 earnings per share. The business's quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts expect that Fluor Corporation will post 2.64 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Fluor from a "hold (c)" rating to a "sell (d)" rating in a report on Friday, August 21st. Citigroup raised their price target on shares of Fluor from $56.00 to $68.00 and gave the stock a "buy" rating in a report on Monday, August 10th. UBS Group boosted their price objective on Fluor from $59.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Barclays increased their target price on shares of Fluor from $40.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. Finally, Zacks Research raised Fluor from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $63.33.

Insider Activity at Fluor

In other Fluor news, insider Pierre Bechelany sold 5,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $55.24, for a total value of $276,200.00. Following the completion of the sale, the insider owned 36,064 shares of the company's stock, valued at $1,992,175.36. This represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.70% of the company's stock.

Fluor Company Profile

Fluor Corporation NYSE: FLR is a global engineering, procurement, construction and project management company. It provides design and construction services, program management, operations and maintenance, and other professional services for complex capital projects. Fluor serves clients in areas including energy, chemicals and petrochemicals, advanced technologies, infrastructure, mining and metals, and government and defense.

The company delivers projects across the full development cycle, from front-end engineering and design through procurement, construction, commissioning and ongoing operations.

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