PenderFund Capital Management Ltd. Purchases New Stake in Fluor Corporation $FLR

PenderFund Capital Management Ltd. bought a new stake in shares of Fluor Corporation (NYSE:FLR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 45,374 shares of the construction company’s stock, valued at approximately $2,377,000.

Several other large investors have also made changes to their positions in the company. NewEdge Advisors LLC raised its position in Fluor by 40.3% during the first quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock valued at $361,000 after purchasing an additional 2,896 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Fluor by 337.7% during the 1st quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock worth $587,000 after buying an additional 12,645 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Fluor during the 1st quarter worth $266,000. Acadian Asset Management LLC bought a new stake in shares of Fluor during the 1st quarter worth $54,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Fluor by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after buying an additional 248 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Transactions at Fluor

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the firm’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 completion of the transaction, the insider directly owned 36,064 shares of the company’s stock, valued at $1,992,175.36. This trade represents a 12.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by corporate insiders.

Fluor Stock Performance

Fluor stock opened at $54.22 on Friday. The business has a 50 day moving average of $51.59 and a 200-day moving average of $49.21. Fluor Corporation has a 1 year low of $39.33 and a 1 year high of $57.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market capitalization of $7.25 billion, a P/E ratio of -4.42, a P/E/G ratio of 1.63 and a beta of 1.25.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates 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 for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. On average, equities research analysts predict that Fluor Corporation will post 2.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLR has been the subject of a number of research reports. Wall Street Zen raised shares of Fluor from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Robert W. Baird upped their price objective on shares of Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Zacks Research raised shares of Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. UBS Group boosted their target price on shares of Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Truist Financial reiterated a “buy” rating and set a $71.00 price target (up from $64.00) on shares of Fluor in a report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Fluor currently has an average rating of “Hold” and an average price target of $63.33.

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.