Jupiter Topco LLC Takes $3.14 Million Position in Fluor Corporation $FLR

Key Points

• Jupiter Topco LLC acquired 59,902 Fluor shares worth approximately $3.14 million in the second quarter, while institutional investors and hedge funds collectively own 88.07% of the stock.
• Analyst views remain mixed: UBS and Truist raised their price targets and maintained “buy” ratings, while Weiss Ratings downgraded Fluor to “sell.” MarketBeat’s consensus rating is “hold,” with an average price target of $63.33.
• Fluor reported quarterly earnings of $0.91 per share, beating estimates of $0.70, while revenue rose 8.8% year over year to $4.33 billion. The stock opened at $56.61, near its 12-month high of $57.93.

Jupiter Topco LLC bought a new position in shares of Fluor Corporation (NYSE:FLR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 59,902 shares of the construction company's stock, valued at approximately $3,139,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Starboard Value LP acquired a new position in Fluor in the fourth quarter valued at about $205,732,000. Rubric Capital Management LP acquired a new stake in shares of Fluor during the second quarter valued at about $205,080,000. AQR Capital Management LLC raised its stake in shares of Fluor by 163.1% in the 4th quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company's stock valued at $204,795,000 after acquiring an additional 3,203,712 shares during the period. Sourcerock Group LLC purchased a new stake in shares of Fluor in the 2nd quarter valued at approximately $85,327,000. Finally, Maverick Capital Ltd. acquired a new position in shares of Fluor in the 1st quarter worth approximately $66,036,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on FLR. UBS Group lifted their target price on shares of Fluor from $59.00 to $66.00 and gave the company a "buy" rating in a report on Monday, August 10th. Truist Financial restated a "buy" rating and set a $71.00 price target (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. Zacks Research upgraded Fluor from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Weiss Ratings downgraded Fluor from a "hold (c)" rating to a "sell (d)" rating in a report on Friday, August 21st. Finally, Barclays increased their target price on Fluor from $40.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Fluor currently has an average rating of "Hold" and an average price target of $63.33.

Insiders Place Their Bets

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

Fluor Trading Up 0.6%

NYSE:FLR opened at $56.61 on Thursday. Fluor Corporation has a 12-month low of $39.33 and a 12-month high of $57.93. The firm has a market cap of $7.57 billion, a PE ratio of -4.61, a price-to-earnings-growth ratio of 1.77 and a beta of 1.26. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average price of $51.72 and a 200 day moving average price of $49.43.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.21. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.Fluor's revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS. Sell-side analysts anticipate that Fluor Corporation will post 2.66 earnings per share for the current fiscal year.

Fluor 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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