Manatuck Hill Partners LLC Makes New Investment in Fluor Corporation $FLR

Manatuck Hill Partners LLC bought a new position in Fluor Corporation (NYSE:FLR) in the second quarter, Holdings Channel.com reports. The firm bought 71,100 shares of the construction company’s stock, valued at approximately $3,725,000. Fluor comprises about 1.2% of Manatuck Hill Partners LLC’s investment portfolio, making the stock its 26th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in shares of Fluor in the 2nd quarter valued at about $25,000. Assetmark Inc. lifted its position in shares of Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after acquiring an additional 483 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Fluor in the 4th quarter valued at about $27,000. Larson Financial Group LLC increased its holdings in shares of Fluor by 6,116.7% during the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after acquiring an additional 734 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in Fluor during the fourth quarter worth $35,000. 88.07% of the stock is owned by institutional investors.

Fluor Trading Up 0.1%

Fluor stock opened at $51.34 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. Fluor Corporation has a fifty-two week low of $39.33 and a fifty-two week high of $57.93. The stock has a market cap of $6.87 billion, a P/E ratio of -4.18, a PEG ratio of 1.61 and a beta of 1.25. The firm’s fifty day moving average price is $51.57 and its 200-day moving average price is $49.11.

Fluor (NYSE:FLR) last announced its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the firm posted $0.43 earnings per share. Fluor’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts forecast that Fluor Corporation will post 2.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FLR shares. Wall Street Zen raised Fluor from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Truist Financial reiterated a “buy” rating and issued a $71.00 target price (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. Zacks Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings cut shares of Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday. Finally, Citigroup upped their price objective on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.33.

Insiders Place Their Bets

In other news, insider Pierre Edward Bechelany sold 5,000 shares of the business’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 completion of the sale, the insider owned 36,064 shares of the company’s stock, valued at approximately $1,992,175.36. The trade was a 12.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by corporate insiders.

About Fluor

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.