State of Wyoming Makes New Investment in Fluor Corporation $FLR

State of Wyoming purchased a new stake in Fluor Corporation (NYSE:FLR) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 25,917 shares of the construction company’s stock, valued at approximately $1,358,000.

Other institutional investors have also modified their holdings of the company. Starboard Value LP acquired a new stake in Fluor during the fourth quarter worth about $205,732,000. AQR Capital Management LLC boosted its stake in Fluor by 163.1% in the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock valued at $204,795,000 after acquiring an additional 3,203,712 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Fluor by 9.1% during 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 purchasing an additional 377,985 shares during the last quarter. Rubric Capital Management LP grew its holdings 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 purchasing an additional 500,000 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Fluor by 0.6% during the 4th quarter. Morgan Stanley now owns 3,405,733 shares of the construction company’s stock worth $134,969,000 after purchasing an additional 20,210 shares during the period. Institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FLR. Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Truist Financial reaffirmed a “buy” rating and issued a $71.00 target price (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Citigroup raised their target price on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Barclays upped their price target on shares of Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Finally, Robert W. Baird increased their price objective on shares of Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Fluor Stock Performance

Shares of FLR stock opened at $52.46 on Friday. Fluor Corporation has a 12-month low of $39.33 and a 12-month high of $57.93. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of -4.27, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25. The business has a 50 day simple moving average of $51.14 and a 200 day simple moving average of $48.77. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.78.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the firm earned $0.43 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that Fluor Corporation will post 2.66 EPS for the current year.

Insider Activity at Fluor

In related news, insider Pierre Edward Bechelany sold 5,000 shares of Fluor stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $55.24, for a total transaction of $276,200.00. Following the sale, the insider directly owned 36,064 shares in the company, valued at $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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.