Fluor Corporation (NYSE:FLR) Shares Acquired by Mengis Capital Management Inc.

Mengis Capital Management Inc. increased its position in shares of Fluor Corporation (NYSE:FLR - Free Report) by 21.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,333 shares of the construction company's stock after buying an additional 6,710 shares during the period. Mengis Capital Management Inc.'s holdings in Fluor were worth $1,337,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its stake in shares of Fluor by 196.2% in the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock worth $30,000 after buying an additional 408 shares in the last quarter. Hurley Capital LLC purchased a new position in shares of Fluor in the first quarter worth about $29,000. SBI Securities Co. Ltd. lifted its stake in shares of Fluor by 222.9% in the first quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company's stock worth $39,000 after buying an additional 760 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Fluor by 121.5% in the first quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company's stock worth $43,000 after buying an additional 666 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in Fluor by 104.6% during the first quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company's stock worth $49,000 after purchasing an additional 701 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FLR. Truist Financial raised their price objective on shares of Fluor from $47.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. UBS Group restated a "buy" rating and set a $60.00 price objective (up from $48.00) on shares of Fluor in a research report on Tuesday, June 24th. Robert W. Baird raised their price objective on shares of Fluor from $41.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Citigroup reiterated a "buy" rating and set a $71.00 price target (up from $47.00) on shares of Fluor in a research report on Monday, July 28th. Finally, KeyCorp cut shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price target for the company. in a research report on Tuesday, July 15th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $54.43.

Insider Activity at Fluor

In other news, Chairman David E. Constable sold 38,600 shares of Fluor stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total value of $2,011,446.00. Following the transaction, the chairman directly owned 792,027 shares of the company's stock, valued at $41,272,526.97. The trade was a 4.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alvin C. Collins III sold 18,920 shares of Fluor stock in a transaction on Monday, June 9th. The shares were sold at an average price of $45.43, for a total transaction of $859,535.60. Following the completion of the transaction, the insider directly owned 64,383 shares in the company, valued at $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,320 shares of company stock valued at $4,870,182 in the last 90 days. Insiders own 1.70% of the company's stock.

Fluor Stock Down 27.0%

Fluor stock traded down $15.31 during trading on Friday, reaching $41.46. The stock had a trading volume of 25,535,948 shares, compared to its average volume of 2,757,772. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $60.10. The business has a 50 day moving average price of $49.91 and a 200 day moving average price of $42.96. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.30. The stock has a market cap of $6.83 billion, a PE ratio of 3.98, a P/E/G ratio of 2.73 and a beta of 1.43.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.16). The firm had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.55 billion. Fluor had a return on equity of 14.59% and a net margin of 11.13%. The firm's revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, analysts predict that Fluor Corporation will post 2.5 EPS for the current year.

Fluor Profile

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.