MMCAP International Inc. SPC Purchases New Stake in Fluor Corporation $FLR

MMCAP International Inc. SPC acquired a new position in Fluor Corporation (NYSE:FLR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the construction company’s stock, valued at approximately $4,207,000. MMCAP International Inc. SPC owned approximately 0.06% of Fluor as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in the stock. MTM Investment Management LLC acquired a new position in shares of Fluor during the 2nd quarter worth $26,000. Hantz Financial Services Inc. boosted its holdings in Fluor by 2,695.2% during the second quarter. Hantz Financial Services Inc. now owns 587 shares of the construction company’s stock worth $30,000 after buying an additional 566 shares in the last quarter. CoreCap Advisors LLC grew its position in Fluor by 129.5% during the third quarter. CoreCap Advisors LLC now owns 723 shares of the construction company’s stock worth $30,000 after buying an additional 408 shares during the period. Cullen Frost Bankers Inc. purchased a new position in Fluor in the second quarter valued at about $33,000. Finally, Solstein Capital LLC acquired a new stake in shares of Fluor during the 2nd quarter valued at approximately $38,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup upped their price target on Fluor from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen raised Fluor from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Robert W. Baird raised their price target on Fluor from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. DA Davidson boosted their price objective on shares of Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Zacks Research raised shares of Fluor from a “hold” rating to a “strong-buy” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.29.

Fluor Stock Up 1.6%

Shares of NYSE:FLR opened at $53.67 on Monday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $7.87 billion, a P/E ratio of -68.80, a P/E/G ratio of 1.37 and a beta of 1.37. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $57.50. The stock’s fifty day simple moving average is $44.56 and its 200-day simple moving average is $43.97.

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

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.