Legal & General Group Plc Takes $9.67 Million Position in Fluor Corporation $FLR

Key Points

• Legal & General Group Plc acquired 184,550 Fluor shares worth approximately $9.67 million in the second quarter, giving it a 0.14% stake. Institutional investors collectively own 88.07% of Fluor.
• Analyst sentiment remains mixed, with four Buy, three Hold and one Sell rating. The consensus price target is $63.33, while several firms recently raised their targets to between $65 and $68.
• Fluor reported quarterly EPS of $0.91, exceeding the $0.70 consensus estimate, while revenue reached $4.33 billion and rose 8.8% year over year. The stock opened at $56.22, near its 52-week high of $57.93.

Legal & General Group Plc acquired a new position in shares of Fluor Corporation (NYSE:FLR - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 184,550 shares of the construction company's stock, valued at approximately $9,669,000. Legal & General Group Plc owned 0.14% of Fluor as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FLR. Global Retirement Partners LLC bought a new position in Fluor during the second quarter worth about $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Fluor in the 4th quarter valued at approximately $27,000. Larson Financial Group LLC grew its stake in shares of Fluor by 6,116.7% in the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company's stock valued at $31,000 after purchasing an additional 734 shares during the period. Banque Transatlantique SA raised its holdings in shares of Fluor by 312.5% in the 2nd quarter. Banque Transatlantique SA now owns 825 shares of the construction company's stock worth $43,000 after buying an additional 625 shares in the last quarter. Finally, Root Financial Partners LLC lifted its position in shares of Fluor by 121.4% during the 1st quarter. Root Financial Partners LLC now owns 826 shares of the construction company's stock worth $39,000 after buying an additional 453 shares during the period. Institutional investors own 88.07% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on FLR. Robert W. Baird upped their price target on Fluor from $49.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Zacks Research upgraded shares of Fluor from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. 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 report on Monday, August 10th. Citigroup lifted their price target on shares of Fluor from $56.00 to $68.00 and gave the company a "buy" rating in a report on Monday, August 10th. Finally, UBS Group upped their price objective on shares of Fluor from $59.00 to $66.00 and gave the stock a "buy" 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $63.33.

Insider Activity at Fluor

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $1,992,175.36. This represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 3.1%

FLR opened at $56.22 on Wednesday. The firm has a 50 day simple moving average of $51.65 and a 200 day simple moving average of $49.35. Fluor Corporation has a fifty-two week low of $39.33 and a fifty-two week high of $57.93. The company has a market cap of $7.52 billion, a price-to-earnings ratio of -4.58, a price-to-earnings-growth ratio of 1.71 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 announced its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.21. The firm had revenue of $4.33 billion for the quarter, compared to analysts' expectations of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The business's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. On average, sell-side analysts anticipate that Fluor Corporation will post 2.66 earnings per share for the current 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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