Impala Asset Management LLC Takes $2.13 Million Position in Fluor Corporation $FLR

Key Points

• Impala Asset Management bought 50,718 shares of Fluor (NYSE:FLR) in Q3 worth about $2.13 million, representing roughly 1.4% of its portfolio and the firm's 13th largest holding.
• Fluor missed quarterly expectations with EPS of $0.33 versus $0.34 and revenue of $4.18B versus $4.27B, saw revenue decline 2% year-over-year, has a market cap of $6.76B, and holds a consensus analyst rating of Moderate Buy with a $54.33 target.
• Insiders have been net sellers recently—22,110 shares were sold (about $1.17M) over the last 90 days, including notable sales by Michael E. Alexander and Mark E. Fields.

Impala Asset Management LLC bought a new stake in shares of Fluor Corporation (NYSE:FLR - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 50,718 shares of the construction company's stock, valued at approximately $2,134,000. Fluor accounts for approximately 1.4% of Impala Asset Management LLC's portfolio, making the stock its 13th largest holding.

A number of other large investors have also bought and sold shares of FLR. MTM Investment Management LLC acquired a new position in shares of Fluor during the second quarter valued at about $26,000. Hantz Financial Services Inc. raised its stake in Fluor by 2,695.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 587 shares of the construction company's stock worth $30,000 after buying an additional 566 shares during the period. CoreCap Advisors LLC boosted its holdings in Fluor by 129.5% in the third quarter. CoreCap Advisors LLC now owns 723 shares of the construction company's stock worth $30,000 after acquiring an additional 408 shares in the last quarter. Banque Transatlantique SA grew its stake in Fluor by 312.5% in the second quarter. Banque Transatlantique SA now owns 825 shares of the construction company's stock valued at $43,000 after acquiring an additional 625 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Fluor during the first quarter valued at approximately $54,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Stock Performance

Shares of FLR stock opened at $46.14 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a 50-day moving average of $46.24 and a 200-day moving average of $44.47. Fluor Corporation has a one year low of $29.20 and a one year high of $57.50. The company has a market cap of $6.76 billion, a P/E ratio of -59.15, a P/E/G ratio of 1.22 and a beta of 1.36.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The company's revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts forecast that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FLR shares. DA Davidson increased their target price on Fluor from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Zacks Research upgraded shares of Fluor from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 19th. Wall Street Zen upgraded shares of Fluor from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. UBS Group restated a "buy" rating and issued a $57.00 target price on shares of Fluor in a report on Thursday, February 19th. Finally, Weiss Ratings cut shares of Fluor from a "hold (c)" rating to a "sell (d+)" rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.33.

Insider Activity at Fluor

In related news, insider Michael E. Alexander sold 3,387 shares of Fluor stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $53.07, for a total transaction of $179,748.09. Following the sale, the insider directly owned 68,664 shares in the company, valued at approximately $3,643,998.48. This trade represents a 4.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark E. Fields sold 5,178 shares of the company's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $52.36, for a total value of $271,120.08. Following the completion of the transaction, the insider owned 194,514 shares of the company's stock, valued at $10,184,753.04. This trade represents a 2.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,110 shares of company stock valued at $1,168,920 in the last ninety days. Insiders own 1.70% of the company's stock.

About Fluor

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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