Legal & General Group Plc Buys Shares of 184,550 Fluor Corporation $FLR

Legal & General Group Plc bought a new position in Fluor Corporation (NYSE:FLR) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 184,550 shares of the construction company’s stock, valued at approximately $9,669,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FLR. Starboard Value LP bought a new stake in shares of Fluor in the 4th quarter valued at $205,732,000. AQR Capital Management LLC lifted its holdings in Fluor by 163.1% during the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after acquiring an additional 3,203,712 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in 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 during the period. Rubric Capital Management LP grew its stake in Fluor by 12.5% in 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 period. Finally, Morgan Stanley increased its holdings in shares of Fluor by 0.6% in 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 in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Stock Performance

FLR opened at $56.22 on Wednesday. The business’s 50-day simple moving average is $51.65 and its 200 day simple moving average is $49.35. 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 $7.52 billion, a PE ratio of -4.58, a PEG ratio of 1.71 and a beta of 1.26.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, topping 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 analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm earned $0.43 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts expect that Fluor Corporation will post 2.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Truist Financial reiterated a “buy” rating and set a $71.00 price objective (up from $64.00) on shares of Fluor in a report on Monday, August 10th. Weiss Ratings downgraded shares of Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, August 21st. Robert W. Baird lifted their price target on shares of Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Wall Street Zen upgraded shares of Fluor from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Citigroup increased their price objective on shares of Fluor from $56.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.33.

Insider Buying and Selling at Fluor

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were 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 in the company, valued at approximately $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate 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.