Maverick Capital Ltd. Takes Position in Fluor Corporation $FLR

Maverick Capital Ltd. acquired a new position in Fluor Corporation (NYSE:FLR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,415,557 shares of the construction company’s stock, valued at approximately $66,036,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Seelaus Asset Management LLC increased its position in 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 buying an additional 245 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after buying an additional 248 shares in the last quarter. Clear Creek Financial Management LLC grew its stake in shares of Fluor by 2.7% during the 4th quarter. Clear Creek Financial Management LLC now owns 11,756 shares of the construction company’s stock valued at $466,000 after acquiring an additional 310 shares during the period. Global Retirement Partners LLC increased its holdings in Fluor by 91.7% in the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock worth $26,000 after acquiring an additional 311 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Fluor by 16.4% in the 1st quarter. Parallel Advisors LLC now owns 2,667 shares of the construction company’s stock worth $124,000 after acquiring an additional 375 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Fluor Trading Down 1.1%

FLR stock opened at $51.60 on Tuesday. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.65 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. Fluor Corporation has a 1-year low of $37.62 and a 1-year high of $57.50. The business has a 50 day simple moving average of $49.83 and a two-hundred day simple moving average of $48.12.

Fluor (NYSE:FLR) last posted its earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.52). The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 earnings per share. Research analysts anticipate that Fluor Corporation will post 2.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on FLR shares. Citigroup lowered their price target on shares of Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Robert W. Baird raised their price objective 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. Weiss Ratings upgraded shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Zacks Research lowered Fluor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Truist Financial raised their price target on Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $57.20.

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.