Quantbot Technologies LP Takes $1.40 Million Position in Fluor Corporation $FLR

Key Points

• Quantbot Technologies LP acquired 26,675 Fluor shares in the second quarter, worth approximately $1.40 million. Institutional investors collectively own 88.07% of Fluor.
• Fluor reported quarterly EPS of $0.91, exceeding the $0.70 consensus estimate, while revenue rose 8.8% year over year to $4.33 billion.
• Analyst sentiment remains mixed: UBS and Citigroup raised price targets and maintained Buy ratings, while the consensus rating is Hold with an average target of $63.33.

Quantbot Technologies LP bought a new position in shares of Fluor Corporation (NYSE:FLR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,675 shares of the construction company's stock, valued at approximately $1,398,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Starboard Value LP acquired a new position in shares of Fluor during the 4th quarter worth about $205,732,000. Rubric Capital Management LP acquired a new stake in Fluor in the 2nd quarter valued at about $205,080,000. AQR Capital Management LLC increased its position in Fluor by 163.1% during the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company's stock worth $204,795,000 after buying an additional 3,203,712 shares during the last quarter. Sourcerock Group LLC bought a new stake in Fluor in the second quarter valued at approximately $85,327,000. Finally, Maverick Capital Ltd. acquired a new stake in shares of Fluor in the first quarter valued at approximately $66,036,000. 88.07% of the stock is currently owned by institutional investors.

Insider Activity

In other Fluor news, insider Pierre Edward Bechelany sold 5,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $55.24, for a total transaction of $276,200.00. Following the transaction, the insider owned 36,064 shares in the company, valued at $1,992,175.36. This represents a 12.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by insiders.

Fluor Stock Performance

Shares of NYSE FLR opened at $51.34 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.80. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of -4.18, a P/E/G ratio of 1.61 and a beta of 1.25. The stock's fifty day moving average price is $51.57 and its two-hundred day moving average price is $49.11. Fluor Corporation has a one year low of $39.33 and a one year high of $57.93.

Fluor (NYSE:FLR - Get Free Report) last posted its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The company's revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Fluor Corporation will post 2.66 EPS for the current year.

Analyst Ratings Changes

FLR has been the topic of a number of recent analyst reports. Wall Street Zen raised Fluor from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. UBS Group upped their price objective on shares of Fluor from $59.00 to $66.00 and gave the company a "buy" rating in a report on Monday, August 10th. Weiss Ratings cut shares of Fluor from a "hold (c)" rating to a "sell (d)" rating in a research note on Friday. Citigroup lifted their target price on shares of Fluor from $56.00 to $68.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Finally, Barclays increased their price target on shares of Fluor from $40.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $63.33.

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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