Moore Capital Management LP Boosts Stake in Fluor Corporation $FLR

Moore Capital Management LP increased its holdings in shares of Fluor Corporation (NYSE:FLR) by 220.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 520,000 shares of the construction company’s stock after acquiring an additional 357,521 shares during the quarter. Moore Capital Management LP owned about 0.39% of Fluor worth $27,243,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Starboard Value LP purchased a new stake in shares of Fluor in the fourth quarter valued at approximately $205,732,000. AQR Capital Management LLC boosted its stake 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 buying an additional 3,203,712 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Fluor by 9.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company’s stock valued at $178,962,000 after buying an additional 377,985 shares in the last quarter. Rubric Capital Management LP increased its stake in shares of Fluor by 12.5% in the 3rd quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company’s stock worth $189,315,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Fluor by 0.6% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Stock Up 0.2%

Shares of NYSE:FLR opened at $53.35 on Monday. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of -4.34, a PEG 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 business has a 50-day moving average price of $51.59 and a 200 day moving average price of $49.25. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, beating 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 negative net margin of 12.85% and a positive return on equity of 8.82%. Fluor’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 earnings per share. Sell-side analysts expect that Fluor Corporation will post 2.66 EPS for the current year.

Insider Activity at Fluor

In other news, insider Pierre Edward Bechelany sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the transaction, the insider directly owned 36,064 shares in the company, valued at approximately $1,992,175.36. This represents a 12.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Robert W. Baird boosted their price target on shares of Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Truist Financial restated a “buy” rating and set a $71.00 price objective (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Barclays boosted their target price on shares of Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. UBS Group increased their price target on shares of Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Weiss Ratings lowered shares of Fluor from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Four 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 MarketBeat, Fluor presently has an average rating of “Hold” and an average price target 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.