132,415 Shares in Fluor Corporation $FLR Bought by SIR Capital Management L.P.

SIR Capital Management L.P. bought a new stake in Fluor Corporation (NYSE:FLR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 132,415 shares of the construction company’s stock, valued at approximately $6,937,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new stake in shares of Fluor in the 2nd quarter valued at approximately $9,669,000. The Manufacturers Life Insurance Company acquired a new position in Fluor during the second quarter valued at approximately $8,253,000. Algert Global LLC increased its stake in Fluor by 14.4% in the second quarter. Algert Global LLC now owns 144,400 shares of the construction company’s stock valued at $7,565,000 after purchasing an additional 18,190 shares in the last quarter. Cibc World Market Inc. bought a new stake in Fluor in the second quarter valued at approximately $1,345,000. Finally, Sanctuary Advisors LLC acquired a new stake in Fluor in the second quarter worth $440,000. Institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FLR. Weiss Ratings lowered shares of Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday. Truist Financial reaffirmed a “buy” rating and set a $71.00 price objective (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. UBS Group boosted their target price on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Robert W. Baird increased their price target on Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, Wall Street Zen raised Fluor from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Fluor presently has an average rating of “Hold” and an average target price of $63.33.

Fluor Price Performance

Shares of NYSE FLR opened at $51.30 on Tuesday. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of -4.18, a PEG ratio of 1.65 and a beta of 1.25. Fluor Corporation has a fifty-two week low of $39.33 and a fifty-two week high of $57.93. The business has a 50-day moving average of $51.56 and a 200-day moving average of $49.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.80.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 EPS. As a group, sell-side analysts predict that Fluor Corporation will post 2.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fluor 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by company insiders.

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.