Qsemble Capital Management LP Grows Position in Fluor Corporation $FLR

Key Points

• Qsemble Capital Management LP increased its Fluor stake by 155.5% in the fourth quarter, ending with 113,192 shares valued at about $4.49 million.
• Fluor shares were down 2.4% to $44.41, and the stock has traded between $37.33 and $57.50 over the past year.
• Recent results were weak: Fluor reported EPS of $0.14, well below the $0.66 estimate, and revenue of $3.66 billion, also below expectations; analysts currently have a Moderate Buy consensus target of $53.33.

Qsemble Capital Management LP boosted its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 155.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,192 shares of the construction company's stock after purchasing an additional 68,889 shares during the period. Qsemble Capital Management LP owned about 0.07% of Fluor worth $4,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its position in Fluor by 6,229.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 153,182 shares of the construction company's stock valued at $6,071,000 after purchasing an additional 150,762 shares in the last quarter. Allworth Financial LP lifted its position in shares of Fluor by 32.2% in the fourth quarter. Allworth Financial LP now owns 9,082 shares of the construction company's stock valued at $360,000 after acquiring an additional 2,211 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of Fluor by 16.8% in the fourth quarter. Independent Advisor Alliance now owns 21,052 shares of the construction company's stock valued at $834,000 after acquiring an additional 3,030 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Fluor in the fourth quarter valued at about $214,000. Finally, Seelaus Asset Management LLC lifted its position in shares of Fluor by 2.9% in the fourth quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company's stock valued at $348,000 after acquiring an additional 245 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Fluor Trading Down 2.4%

Shares of FLR stock opened at $44.41 on Friday. Fluor Corporation has a 12-month low of $37.33 and a 12-month high of $57.50. The company has a current ratio of 1.78, a quick ratio of 1.91 and a debt-to-equity ratio of 0.36. The stock's 50-day moving average price is $47.27 and its 200-day moving average price is $45.82. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 1.38 and a beta of 1.33.

Fluor (NYSE:FLR - Get Free Report) last issued its earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the firm posted $0.73 earnings per share. The company's revenue for the quarter was down 8.0% compared to the same quarter last year. Equities research analysts predict that Fluor Corporation will post 2.74 EPS for the current fiscal year.

Insider Buying and Selling at Fluor

In other Fluor news, insider Mark E. Fields sold 5,178 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $52.36, for a total transaction of $271,120.08. Following the completion of the transaction, the insider owned 194,514 shares in the company, valued at $10,184,753.04. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pierre Edward Bechelany sold 4,581 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $53.10, for a total transaction of $243,251.10. Following the transaction, the insider owned 32,748 shares of the company's stock, valued at $1,738,918.80. This trade represents a 12.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,110 shares of company stock valued at $1,168,920 over the last ninety days. Corporate insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FLR. Weiss Ratings upgraded Fluor from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday. Wall Street Zen upgraded Fluor from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Truist Financial restated a "buy" rating and issued a $57.00 price objective (down from $59.00) on shares of Fluor in a research report on Monday, May 11th. Robert W. Baird boosted their price objective on Fluor from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Finally, Citigroup lowered their price objective on Fluor from $61.00 to $56.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $53.33.

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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