Clearline Capital LP Purchases 154,637 Shares of Fluor Corporation $FLR

Clearline Capital LP boosted its position in shares of Fluor Corporation (NYSE:FLR) by 32.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 632,469 shares of the construction company’s stock after acquiring an additional 154,637 shares during the period. Fluor accounts for 1.2% of Clearline Capital LP’s investment portfolio, making the stock its 10th biggest holding. Clearline Capital LP owned approximately 0.39% of Fluor worth $26,608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLR. Dimensional Fund Advisors LP boosted its position in shares of Fluor by 8.6% in the third quarter. Dimensional Fund Advisors LP now owns 4,137,672 shares of the construction company’s stock valued at $174,077,000 after acquiring an additional 328,122 shares during the period. SG Americas Securities LLC increased its position in Fluor by 472.4% during the third quarter. SG Americas Securities LLC now owns 122,727 shares of the construction company’s stock worth $5,163,000 after acquiring an additional 101,288 shares during the period. Pacific Heights Asset Management LLC raised its stake in Fluor by 35.4% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 325,000 shares of the construction company’s stock valued at $13,673,000 after purchasing an additional 85,000 shares during the last quarter. Quadrant Private Wealth Management LLC acquired a new stake in Fluor in the 3rd quarter worth $3,475,000. Finally, Intech Investment Management LLC increased its holdings in shares of Fluor by 99.9% during the 2nd quarter. Intech Investment Management LLC now owns 299,601 shares of the construction company’s stock worth $15,361,000 after purchasing an additional 149,716 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FLR shares. Citigroup increased their target price on shares of Fluor from $57.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Zacks Research raised Fluor from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Wall Street Zen raised Fluor from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. DA Davidson upped their target price on Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, UBS Group reaffirmed a “buy” rating and issued a $57.00 target price on shares of Fluor in a research report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued 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 “Moderate Buy” and a consensus price target of $54.33.

Fluor Stock Down 1.1%

NYSE FLR opened at $43.01 on Friday. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $57.50. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of -55.15, a PEG ratio of 1.07 and a beta of 1.36. The stock’s 50 day moving average is $46.73 and its two-hundred day moving average is $44.62. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.33.

Fluor (NYSE:FLR) last issued its earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.27 billion. Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. Equities analysts forecast that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Insider Activity at Fluor

In other news, insider Kevin B. Hammonds sold 2,988 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $52.61, for a total value of $157,198.68. Following the sale, the insider owned 16,273 shares in the company, valued at approximately $856,122.53. The trade was a 15.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony Morgan sold 3,387 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $53.09, for a total transaction of $179,815.83. Following the completion of the sale, the insider directly owned 45,999 shares in the company, valued at approximately $2,442,086.91. The trade was a 6.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 22,110 shares of company stock valued at $1,168,920. Insiders own 1.70% of the company’s stock.

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.