Meeder Asset Management Inc. Purchases Shares of 52,036 Fluor Corporation $FLR

Meeder Asset Management Inc. acquired a new position in Fluor Corporation (NYSE:FLR) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 52,036 shares of the construction company’s stock, valued at approximately $2,726,000.

Several other institutional investors have also modified their holdings of FLR. Global Retirement Partners LLC acquired a new position in Fluor during the second quarter worth about $25,000. Assetmark Inc. lifted its holdings in Fluor by 249.0% in the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after acquiring an additional 483 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Fluor during the 4th quarter valued at about $27,000. Larson Financial Group LLC grew its stake in shares of Fluor by 6,116.7% in the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after purchasing an additional 734 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Fluor in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FLR shares. Wall Street Zen raised shares of Fluor from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fluor in a report on Friday, August 7th. Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. UBS Group raised their price objective on Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Robert W. Baird lifted their target price on Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Fluor currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Insider Buying and Selling at Fluor

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the transaction, the insider directly owned 36,064 shares of the company’s stock, valued at approximately $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company’s stock.

Fluor Trading Down 2.5%

Fluor stock opened at $53.38 on Wednesday. Fluor Corporation has a 52 week low of $39.33 and a 52 week high of $57.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of -4.35, a P/E/G ratio of 1.64 and a beta of 1.25. The company has a 50 day moving average price of $51.32 and a 200 day moving average price of $48.90.

Fluor (NYSE:FLR) last announced its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.21. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 EPS. Research analysts forecast that Fluor Corporation will post 2.66 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.