Y Intercept Hong Kong Ltd Sells 83,821 Shares of Fluor Corporation $FLR

Key Points

• Y Intercept Hong Kong Ltd cut its Fluor stake by 65.9% in the first quarter, selling 83,821 shares and leaving it with 43,353 shares valued at about $2.0 million.
• Institutional ownership in Fluor remains heavy, with hedge funds and other investors holding 88.07% of the stock. Several large firms, including Starboard Value and AQR Capital Management, have recently built or expanded positions.
• Analyst sentiment is mixed but slightly positive: Fluor has a Moderate Buy consensus rating with an average price target of $54.50, while the stock recently traded around $49.56 after rising 2.0%.

Y Intercept Hong Kong Ltd reduced its stake in Fluor Corporation (NYSE:FLR - Free Report) by 65.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,353 shares of the construction company's stock after selling 83,821 shares during the period. Y Intercept Hong Kong Ltd's holdings in Fluor were worth $2,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FLR. Starboard Value LP bought a new position in Fluor in the 4th quarter valued at approximately $205,732,000. AQR Capital Management LLC grew its stake in shares of 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. Dimensional Fund Advisors LP increased its holdings in shares of Fluor by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company's stock worth $178,962,000 after buying an additional 377,985 shares in the last quarter. Rubric Capital Management LP lifted its stake in shares of Fluor by 12.5% in the 3rd quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company's stock valued at $189,315,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Fluor by 0.6% during the 4th quarter. Morgan Stanley now owns 3,405,733 shares of the construction company's stock valued at $134,969,000 after acquiring an additional 20,210 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FLR. Zacks Research lowered Fluor from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 20th. Citigroup cut their price target on Fluor from $61.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Truist Financial boosted their price target on Fluor from $57.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Weiss Ratings upgraded shares of Fluor from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Finally, Robert W. Baird lifted their target price on shares of Fluor from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Fluor currently has an average rating of "Moderate Buy" and an average target price of $54.50.

Fluor Stock Up 2.0%

Shares of NYSE:FLR opened at $49.56 on Thursday. The firm has a market cap of $6.92 billion, a P/E ratio of 28.82, a P/E/G ratio of 1.54 and a beta of 1.23. Fluor Corporation has a 12-month low of $37.62 and a 12-month high of $57.50. The business has a fifty day simple moving average of $49.12 and a 200 day simple moving average of $47.25. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.52). The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. The company's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. Analysts predict that Fluor Corporation will post 2.63 earnings per share for the current year.

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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