Evolve Private Wealth LLC Takes Position in Fluor Corporation $FLR

Evolve Private Wealth LLC bought a new position in shares of Fluor Corporation (NYSE:FLR) during the second quarter, Holdings Channel.com reports. The fund bought 10,601 shares of the construction company’s stock, valued at approximately $555,000.

Other large investors have also added to or reduced their stakes in the company. Starboard Value LP bought a new position in Fluor during the fourth quarter worth $205,732,000. AQR Capital Management LLC raised its position in shares of Fluor by 163.1% in the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock valued at $204,795,000 after purchasing an additional 3,203,712 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Fluor by 9.1% during the 4th 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 during the last quarter. Rubric Capital Management LP lifted its stake in shares of Fluor by 12.5% during the 3rd quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company’s stock worth $189,315,000 after buying 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 worth $134,969,000 after buying an additional 20,210 shares during the period. Institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Truist Financial restated a “buy” rating and set a $71.00 price objective (up from $64.00) on shares of Fluor in a report on Monday, August 10th. Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Wall Street Zen raised Fluor from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Robert W. Baird boosted their price target on Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Weiss Ratings cut Fluor from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $63.33.

Insider Buying and Selling at Fluor

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $55.24, for a total value of $276,200.00. Following the sale, the insider directly owned 36,064 shares of the company’s stock, valued at $1,992,175.36. This trade represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company’s stock.

Fluor Stock Performance

Shares of NYSE:FLR opened at $51.30 on Tuesday. The company’s 50 day moving average price is $51.56 and its two-hundred day moving average price is $49.07. Fluor Corporation has a 12-month low of $39.33 and a 12-month high of $57.93. The firm has a market cap of $6.86 billion, a PE ratio of -4.18, a PEG ratio of 1.65 and a beta of 1.25. 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 (NYSE:FLR) last announced its earnings results on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.70 by $0.21. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. Equities research analysts predict that Fluor Corporation will post 2.66 earnings per share 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.