Mitsubishi UFJ Trust & Banking Corp Buys New Shares in Fluor Corporation $FLR

Key Points

• Mitsubishi UFJ Trust & Banking bought a new stake of 34,061 shares (~$1.35M) in Fluor (NYSE:FLR) in Q4, while several large institutions (e.g., Rubric Capital ~$205M, Sourcerock ~$85M, Ameriprise, Balyasny, AllianceBernstein) also built or increased positions, leaving institutional ownership at about 88.07%.
• Insiders have been net sellers recently—22,110 shares sold in the past 90 days (including sales by Mark E. Fields and Kevin B. Hammonds), with corporate insiders now owning roughly 1.70% of the stock.
• Operationally Fluor missed estimates slightly (Q4 EPS $0.33 vs $0.34 and revenue $4.18B vs $4.27B expected), has a negative net margin, and carries a MarketBeat consensus rating of "Hold" with a consensus price target of $54.33.

Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Fluor Corporation (NYSE:FLR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 34,061 shares of the construction company's stock, valued at approximately $1,350,000.

A number of other large investors also recently modified their holdings of FLR. Rubric Capital Management LP purchased a new position in shares of Fluor during the 2nd quarter valued at $205,080,000. Sourcerock Group LLC purchased a new position in shares of Fluor during the 2nd quarter valued at $85,327,000. Ameriprise Financial Inc. lifted its stake in shares of Fluor by 361.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company's stock valued at $77,289,000 after buying an additional 1,180,838 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Fluor by 90.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,586,492 shares of the construction company's stock valued at $81,339,000 after buying an additional 755,337 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Fluor by 27.4% during the 3rd quarter. Alliancebernstein L.P. now owns 3,280,423 shares of the construction company's stock valued at $138,007,000 after buying an additional 704,779 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Insider Transactions at Fluor

In other news, insider Mark E. Fields sold 5,178 shares of the business's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $52.36, for a total value of $271,120.08. Following the sale, the insider directly owned 194,514 shares in the company, valued at $10,184,753.04. The trade was a 2.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kevin B. Hammonds sold 2,988 shares of the business's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $52.61, for a total transaction of $157,198.68. Following the completion of the sale, the insider owned 16,273 shares in the company, valued at approximately $856,122.53. This trade represents a 15.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 22,110 shares of company stock worth $1,168,920. 1.70% of the stock is currently owned by corporate insiders.

Fluor Stock Up 0.9%

Shares of FLR stock opened at $52.95 on Wednesday. The stock has a market cap of $7.58 billion, a P/E ratio of -67.88, a PEG ratio of 1.31 and a beta of 1.33. Fluor Corporation has a 52 week low of $34.28 and a 52 week high of $57.50. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.33. The company's fifty day simple moving average is $48.03 and its two-hundred day simple moving average is $45.88.

Fluor (NYSE:FLR - Get Free Report) last posted its earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share 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 business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the firm earned $0.48 earnings per share. The business's quarterly revenue was down 2.0% on a year-over-year basis. Analysts predict that Fluor Corporation will post 2.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of Fluor from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Citigroup boosted their price target on shares of Fluor from $57.00 to $61.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Wall Street Zen upgraded shares of Fluor from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. Robert W. Baird boosted their price target on shares of Fluor from $45.00 to $48.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 18th. Finally, Zacks Research cut shares of Fluor from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $54.33.

Fluor Company 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.

Want to see what other hedge funds are holding FLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fluor Corporation (NYSE:FLR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.