Kingsview Wealth Management LLC Buys New Stake in Fluor Corporation $FLR

Kingsview Wealth Management LLC purchased a new position in shares of Fluor Corporation (NYSE:FLR) in the second quarter, Holdings Channel reports. The fund purchased 11,608 shares of the construction company’s stock, valued at approximately $608,000.

Other large investors also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. bought a new stake in shares of Fluor during the second quarter valued at about $147,000. Glenview Trust Co acquired a new position in Fluor during the 2nd quarter valued at about $2,475,000. Empowered Funds LLC bought a new stake in shares of Fluor during the 2nd quarter worth about $4,602,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Fluor in the 2nd quarter worth approximately $2,318,000. Finally, PenderFund Capital Management Ltd. bought a new position in shares of Fluor in the second quarter valued at approximately $2,377,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Stock Up 0.2%

FLR stock opened at $53.35 on Monday. The firm has a market cap of $7.14 billion, a PE ratio of -4.34, a P/E/G ratio of 1.67 and a beta of 1.25. Fluor Corporation has a 12 month low of $39.33 and a 12 month 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 firm has a 50 day simple moving average of $51.59 and a 200 day simple moving average of $49.25.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. Equities research analysts forecast that Fluor Corporation will post 2.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FLR has been the topic of several recent analyst reports. UBS Group boosted their target price on Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Zacks Research raised Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Barclays upped their price objective on Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Finally, Wall Street Zen raised Fluor from a “hold” rating to a “buy” rating in a 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Fluor presently has a consensus rating of “Hold” and a consensus price target of $63.33.

Insider Activity

In other news, insider Pierre Edward Bechelany sold 5,000 shares of the business’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 sale, the insider directly owned 36,064 shares of the company’s stock, valued at $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 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 owned by insiders.

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.