TD Waterhouse Canada Inc. Has $7.58 Million Stock Position in Fluor Corporation $FLR

Key Points

• TD Waterhouse Canada reduced its Fluor stake by 10.7% in the second quarter, selling 18,077 shares and retaining 150,472 shares worth approximately $7.58 million. Institutional investors and hedge funds collectively own 88.07% of Fluor.
• Analyst sentiment remains mixed, with ratings ranging from sell to buy and an overall consensus of “Hold”. The average price target is $63.33, while recent targets range from $50 to $66.
• Fluor beat quarterly expectations, reporting $0.91 in EPS versus the $0.70 consensus and revenue of $4.33 billion, up 8.8% year over year. The stock opened at $56.15 and is trading near its 12-month high of $58.35.

TD Waterhouse Canada Inc. lessened its stake in Fluor Corporation (NYSE:FLR - Free Report) by 10.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,472 shares of the construction company's stock after selling 18,077 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.11% of Fluor worth $7,584,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Seelaus Asset Management LLC lifted its holdings 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 worth $348,000 after acquiring an additional 245 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company's stock worth $194,000 after purchasing an additional 248 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Fluor by 91.7% during the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company's stock worth $26,000 after buying an additional 311 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Fluor by 16.4% during the first quarter. Parallel Advisors LLC now owns 2,667 shares of the construction company's stock worth $124,000 after buying an additional 375 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Fluor by 18.7% during the 4th quarter. UMB Bank n.a. now owns 2,438 shares of the construction company's stock valued at $97,000 after acquiring an additional 384 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings cut Fluor from a "hold (c)" rating to a "sell (d)" rating in a report on Friday, August 21st. Barclays lifted their target price on shares of Fluor from $40.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. Zacks Research raised shares of Fluor from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Robert W. Baird raised their price target on shares of Fluor from $49.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Finally, UBS Group boosted their price objective on shares of Fluor from $59.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $63.33.

Fluor Stock Performance

NYSE:FLR opened at $56.15 on Friday. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. Fluor Corporation has a twelve month low of $39.33 and a twelve month high of $58.35. The company has a fifty day moving average of $51.84 and a 200-day moving average of $49.56. The firm has a market capitalization of $7.51 billion, a P/E ratio of -4.57, a P/E/G ratio of 1.76 and a beta of 1.26.

Fluor (NYSE:FLR - Get Free Report) last posted its quarterly 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 business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the business earned $0.43 EPS. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Fluor Corporation will post 2.66 EPS for the current year.

Insiders Place Their Bets

In other Fluor news, insider Pierre Bechelany sold 5,000 shares of Fluor stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the completion of the transaction, the insider owned 36,064 shares in the company, valued at approximately $1,992,175.36. The trade was a 12.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.70% of the company's stock.

Fluor 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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