Cibc World Market Inc. Buys Shares of 25,672 Fluor Corporation $FLR

Cibc World Market Inc. purchased a new stake in Fluor Corporation (NYSE:FLR) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 25,672 shares of the construction company’s stock, valued at approximately $1,345,000.

A number of other hedge funds have also modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in Fluor in the 2nd quarter valued at about $25,000. Los Angeles Capital Management LLC purchased a new position in Fluor during the fourth quarter worth about $27,000. Larson Financial Group LLC increased its position in shares of Fluor by 6,116.7% during the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after acquiring an additional 734 shares during the last quarter. Banque Transatlantique SA increased its position in shares of Fluor by 312.5% during the second quarter. Banque Transatlantique SA now owns 825 shares of the construction company’s stock valued at $43,000 after acquiring an additional 625 shares during the last quarter. Finally, Root Financial Partners LLC raised its stake in shares of Fluor by 121.4% in the 1st quarter. Root Financial Partners LLC now owns 826 shares of the construction company’s stock valued at $39,000 after acquiring an additional 453 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 completion of the transaction, the insider 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 document filed with the SEC, which is accessible 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.

Fluor Stock Up 4.2%

Shares of NYSE:FLR opened at $54.22 on Friday. Fluor Corporation has a fifty-two week low of $39.33 and a fifty-two week high of $57.93. The firm’s 50 day moving average price is $51.59 and its 200 day moving average price is $49.21. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of -4.42, a price-to-earnings-growth ratio of 1.63 and a beta of 1.25.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of Fluor from $56.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wall Street Zen raised Fluor from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Barclays lifted their price objective on Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Zacks Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Robert W. Baird upped their price objective on Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.33.

Fluor 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.