Entropy Technologies LP Purchases New Holdings in Fluor Corporation $FLR

Entropy Technologies LP acquired a new position in shares of Fluor Corporation (NYSE:FLR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,503 shares of the construction company’s stock, valued at approximately $1,330,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FLR. Renaissance Technologies LLC purchased a new position in shares of Fluor during the first quarter valued at approximately $8,859,000. Public Employees Retirement System of Ohio grew its stake in shares of Fluor by 524.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 23,430 shares of the construction company’s stock worth $1,093,000 after buying an additional 19,680 shares during the last quarter. Cloverfields Capital Group LP increased its position in Fluor by 20.8% during the 1st quarter. Cloverfields Capital Group LP now owns 26,155 shares of the construction company’s stock valued at $1,220,000 after buying an additional 4,500 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new position in Fluor during the first quarter valued at $1,004,000. Finally, First Trust Advisors LP raised its stake in Fluor by 34.9% during the first quarter. First Trust Advisors LP now owns 337,029 shares of the construction company’s stock valued at $15,722,000 after buying an additional 87,174 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

Shares of FLR stock opened at $51.60 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average price of $49.83 and a 200-day moving average price of $48.12. Fluor Corporation has a 52 week low of $37.62 and a 52 week high of $57.50. The firm has a market capitalization of $7.21 billion, a PE ratio of 30.00, a P/E/G ratio of 1.65 and a beta of 1.23.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the company earned $0.73 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, equities research analysts expect that Fluor Corporation will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FLR shares. Weiss Ratings raised Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Citigroup lowered their price target on Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Robert W. Baird upped their price target on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Zacks Research downgraded shares of Fluor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Finally, Truist Financial lifted their target price on shares of Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Fluor presently has a consensus 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.