First National Bank of Omaha Takes $8.80 Million Position in Fluor Corporation $FLR

First National Bank of Omaha purchased a new stake in Fluor Corporation (NYSE:FLR) in the second quarter, Holdings Channel reports. The firm purchased 165,091 shares of the construction company’s stock, valued at approximately $8,804,000.

Several other institutional investors also recently bought and sold shares of FLR. NewEdge Advisors LLC raised its position in Fluor by 40.3% during the 1st quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock valued at $361,000 after purchasing an additional 2,896 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Fluor by 337.7% during the first quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock valued at $587,000 after buying an additional 12,645 shares during the period. Caxton Associates LLP purchased a new position in shares of Fluor during the first quarter valued at $266,000. Acadian Asset Management LLC bought a new stake in shares of Fluor in the first quarter valued at about $54,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Fluor by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after acquiring an additional 248 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FLR. Citigroup raised their target price on shares of Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Zacks Research raised shares of Fluor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of Fluor from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial reissued a “buy” rating and issued a $71.00 price objective (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. Finally, Barclays upped their target price on Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

Insider Activity at Fluor

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the company’s stock in a transaction that occurred on 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 owned 36,064 shares in the company, valued at $1,992,175.36. This represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by company insiders.

Fluor Stock Performance

Shares of Fluor stock opened at $53.38 on Wednesday. The company has a 50 day moving average price of $51.32 and a 200 day moving average price of $48.90. The firm has a market capitalization of $7.14 billion, a P/E ratio of -4.35, a PEG ratio of 1.64 and a beta of 1.25. Fluor Corporation has a 52 week low of $39.33 and a 52 week high of $57.93. 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 quarterly earnings data 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. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. Sell-side analysts expect that Fluor Corporation will post 2.66 EPS 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.