SIR Capital Management L.P. Takes Position in Fluor Corporation $FLR

Key Points

• SIR Capital Management initiated a position in Fluor during the second quarter, purchasing 132,415 shares worth approximately $6.94 million. Institutional investors collectively own 88.07% of Fluor.
• Analyst sentiment remains mixed: Truist Financial and Citigroup raised their price targets and maintained Buy ratings, while Weiss Ratings downgraded the stock to Sell. The consensus rating is Hold, with an average price target of $63.33.
• 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. The stock opened at $51.30, down 2.1%.

SIR Capital Management L.P. bought a new position in Fluor Corporation (NYSE:FLR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 132,415 shares of the construction company's stock, valued at approximately $6,937,000. SIR Capital Management L.P. owned about 0.10% of Fluor as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in Fluor during the second quarter worth about $25,000. Assetmark Inc. raised its stake in shares of Fluor by 249.0% in the fourth quarter. Assetmark Inc. now owns 677 shares of the construction company's stock valued at $27,000 after acquiring an additional 483 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Fluor in the 4th quarter worth approximately $27,000. Larson Financial Group LLC grew its position in Fluor by 6,116.7% during the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company's stock worth $31,000 after acquiring an additional 734 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Fluor during the 4th quarter worth approximately $35,000. 88.07% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Pierre Edward Bechelany sold 5,000 shares of Fluor 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 completion of the sale, the insider owned 36,064 shares in the company, valued at $1,992,175.36. The trade was a 12.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on FLR shares. Truist Financial reiterated a "buy" rating and issued a $71.00 price objective (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Zacks Research upgraded Fluor from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Weiss Ratings lowered Fluor from a "hold (c)" rating to a "sell (d)" rating in a research note on Friday. Citigroup upped their price target on shares of Fluor from $56.00 to $68.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Finally, Barclays increased their price objective on shares of Fluor from $40.00 to $50.00 and gave the stock an "equal weight" rating in a report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $63.33.

Fluor Stock Down 2.1%

NYSE FLR opened at $51.30 on Tuesday. The stock has a market capitalization of $6.86 billion, a P/E ratio of -4.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.25. Fluor Corporation has a 52 week low of $39.33 and a 52 week high of $57.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a fifty day moving average of $51.56 and a 200-day moving average of $49.07.

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

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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