Neo Ivy Capital Management Invests $3.58 Million in Fluor Corporation $FLR

Key Points

• Neo Ivy Capital Management purchased a new stake of 85,130 shares in Fluor (NYSE:FLR) during Q3, worth about $3.58 million, making FLR approximately 0.9% of Neo Ivy’s portfolio and its 19th largest holding.
• Institutional interest is high—88.07% of the stock is held by institutions—with large recent moves including DLD Asset Management adding a roughly $1.025 billion stake and Dimensional Fund Advisors owning about 4.14 million shares (~$174 million).
• FLR trades around $45 (1‑year range $29.20–$57.50) with a market cap of ~$6.6B; the company missed Q earnings and revenue estimates, yet analysts have an average rating of "Moderate Buy" and a consensus price target of $54.33.

Neo Ivy Capital Management purchased a new stake in Fluor Corporation (NYSE:FLR - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,130 shares of the construction company's stock, valued at approximately $3,581,000. Fluor comprises approximately 0.9% of Neo Ivy Capital Management's investment portfolio, making the stock its 19th biggest position. Neo Ivy Capital Management owned 0.05% of Fluor at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DLD Asset Management LP acquired a new stake in shares of Fluor during the 2nd quarter worth approximately $1,025,400,000. Dimensional Fund Advisors LP boosted its stake in shares of Fluor by 8.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,137,672 shares of the construction company's stock worth $174,077,000 after acquiring an additional 328,122 shares in the last quarter. Rubric Capital Management LP purchased a new position in shares of Fluor in the 2nd quarter valued at about $205,080,000. Sourcerock Group LLC acquired a new position in Fluor in the 2nd quarter worth about $85,327,000. Finally, Balyasny Asset Management L.P. grew its holdings in Fluor by 90.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,586,492 shares of the construction company's stock valued at $81,339,000 after purchasing an additional 755,337 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Price Performance

FLR stock opened at $45.03 on Friday. Fluor Corporation has a 1 year low of $29.20 and a 1 year high of $57.50. The firm has a market capitalization of $6.60 billion, a PE ratio of -57.73, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36. 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 business has a 50 day simple moving average of $46.33 and a 200-day simple moving average of $44.49.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings data 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 company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the firm posted $0.48 EPS. The business's quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts anticipate that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Truist Financial lifted their price target 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. Robert W. Baird boosted their target price 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. UBS Group reiterated a "buy" rating and issued a $57.00 price objective on shares of Fluor in a report on Thursday, February 19th. Zacks Research raised Fluor from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 19th. Finally, Wall Street Zen upgraded Fluor from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Fluor presently has an average rating of "Moderate Buy" and a consensus price target of $54.33.

Insider Buying and Selling

In other news, insider Pierre Edward Bechelany sold 4,581 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $53.10, for a total value of $243,251.10. Following the completion of the sale, the insider owned 32,748 shares of the company's stock, valued at $1,738,918.80. This represents a 12.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kevin B. Hammonds sold 2,988 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $52.61, for a total value of $157,198.68. Following the completion of the transaction, the insider owned 16,273 shares of the company's stock, valued at $856,122.53. The trade was a 15.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,110 shares of company stock worth $1,168,920 over the last ninety days. 1.70% of the stock is currently owned by insiders.

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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