Rokos Capital Management LLP Takes $6.05 Million Position in Fluor Corporation $FLR

Key Points

• Rokos Capital Management initiated a $6.05 million position in Fluor, purchasing 129,789 shares, while institutional investors and hedge funds collectively own 88.07% of the company.
• Fluor’s latest quarterly results missed expectations: earnings per share came in at $0.14 versus the $0.66 consensus estimate, while revenue fell 8% year over year to $3.66 billion.
• Analyst sentiment remains mixed, with four Buy, two Hold and one Sell ratings; the consensus rating is Hold with an average price target of $57.20, compared with the stock’s $51.60 opening price.

Rokos Capital Management LLP purchased a new position in shares of Fluor Corporation (NYSE:FLR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 129,789 shares of the construction company's stock, valued at approximately $6,053,000. Rokos Capital Management LLP owned about 0.09% of Fluor as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FLR. Starboard Value LP acquired a new position in Fluor during the fourth quarter worth about $205,732,000. Rubric Capital Management LP acquired a new stake in shares of Fluor in the second quarter valued at approximately $205,080,000. AQR Capital Management LLC increased its stake in shares of Fluor by 163.1% during the 4th quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company's stock worth $204,795,000 after purchasing an additional 3,203,712 shares in the last quarter. Sourcerock Group LLC purchased a new position in shares of Fluor during the 2nd quarter worth approximately $85,327,000. Finally, Maverick Capital Ltd. acquired a new position in shares of Fluor during the 1st quarter worth approximately $66,036,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Trading Down 1.1%

Shares of FLR opened at $51.60 on Tuesday. Fluor Corporation has a fifty-two week low of $37.62 and a fifty-two week high of $57.50. The company has a market capitalization of $7.21 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. The stock has a fifty day moving average of $49.83 and a two-hundred day moving average of $48.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78.

Fluor (NYSE:FLR - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.Fluor's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 EPS. As a group, analysts forecast that Fluor Corporation will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FLR shares. Zacks Research cut Fluor from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 7th. Citigroup reduced 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. Weiss Ratings raised Fluor from a "sell (d+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Robert W. Baird lifted their price objective on Fluor from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Finally, Truist Financial upped their target price on shares of Fluor from $57.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $57.20.

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.

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