Empowered Funds LLC Purchases 43,078 Shares of Fluor Corporation $FLR

Empowered Funds LLC increased its position in shares of Fluor Corporation (NYSE:FLR) by 45.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 138,342 shares of the construction company’s stock after purchasing an additional 43,078 shares during the quarter. Empowered Funds LLC’s holdings in Fluor were worth $6,454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Starboard Value LP bought a new position in shares of Fluor during the 4th quarter worth approximately $205,732,000. AQR Capital Management LLC boosted its stake in shares of Fluor by 163.1% in the 4th quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after buying an additional 3,203,712 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Fluor by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company’s stock valued at $178,962,000 after acquiring an additional 377,985 shares in the last quarter. Rubric Capital Management LP increased its position in shares of Fluor by 12.5% during the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company’s stock valued at $189,315,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Fluor by 0.6% during the fourth quarter. Morgan Stanley now owns 3,405,733 shares of the construction company’s stock worth $134,969,000 after acquiring an additional 20,210 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on FLR shares. Zacks Research cut Fluor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Truist Financial lifted their target price on Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Robert W. Baird boosted their price target on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Citigroup reduced their price target on shares of Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $57.20.

Fluor Trading Up 0.2%

Shares of Fluor stock opened at $50.17 on Friday. The stock has a market capitalization of $7.01 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.59 and a beta of 1.23. Fluor Corporation has a 52-week low of $37.62 and a 52-week high of $57.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. The stock’s 50-day simple moving average is $50.26 and its 200 day simple moving average is $48.24.

Fluor (NYSE:FLR) last issued its earnings results 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). The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.Fluor’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 EPS. As a group, research analysts anticipate that Fluor Corporation will post 2.63 EPS for the current year.

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.