Troluce Capital Advisors LLC Takes $18.66 Million Position in Fluor Corporation $FLR

Key Points

• Troluce Capital Advisors initiated a $18.66 million position in Fluor, purchasing 400,000 shares—about 0.29% of the company and 1.1% of the fund’s portfolio. Institutional investors and hedge funds collectively own 88.07% of Fluor.
• Fluor’s latest quarterly results fell short of expectations: earnings per share were $0.14 versus the $0.66 consensus estimate, while revenue declined 8% year over year to $3.66 billion.
• Analyst sentiment is mixed, with four Buy, two Hold, and one Sell rating; the consensus rating is Hold, with an average price target of $57.20 compared with the stock’s $52.16 opening price.

Troluce Capital Advisors LLC purchased a new position in shares of Fluor Corporation (NYSE:FLR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 400,000 shares of the construction company's stock, valued at approximately $18,660,000. Fluor comprises 1.1% of Troluce Capital Advisors LLC's investment portfolio, making the stock its 25th largest holding. Troluce Capital Advisors LLC owned about 0.29% of Fluor as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Fluor during the 4th quarter worth about $1,350,000. Pacific Heights Asset Management LLC grew its position in shares of Fluor by 23.1% during the 4th quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company's stock worth $15,852,000 after buying an additional 75,000 shares during the period. Mutual Advisors LLC bought a new stake in Fluor in the fourth quarter valued at $863,000. CWM LLC increased its position in Fluor by 68.1% in the 4th quarter. CWM LLC now owns 91,639 shares of the construction company's stock valued at $3,632,000 after buying an additional 37,112 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Fluor by 16.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 172,427 shares of the construction company's stock valued at $6,833,000 after acquiring an additional 23,892 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Trading Down 0.1%

Shares of FLR opened at $52.16 on Monday. Fluor Corporation has a twelve month low of $37.62 and a twelve month high of $57.50. The stock has a market cap of $7.28 billion, a PE ratio of 30.32, a P/E/G ratio of 1.65 and a beta of 1.23. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. The business's 50-day moving average price is $49.69 and its 200-day moving average price is $48.08.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The firm had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same period in the prior year, the firm posted $0.73 EPS. Fluor's revenue was down 8.0% on a year-over-year basis. On average, equities analysts forecast that Fluor Corporation will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FLR has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of Fluor from $57.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Zacks Research lowered shares of Fluor from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 7th. Citigroup lowered their target price on Fluor from $61.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Robert W. Baird boosted their price target on shares of Fluor from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Finally, Weiss Ratings raised shares of Fluor from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently 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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