Squarepoint Ops LLC Makes New Investment in Fluor Corporation $FLR

Squarepoint Ops LLC bought a new stake in Fluor Corporation (NYSE:FLR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 181,392 shares of the construction company’s stock, valued at approximately $9,503,000. Squarepoint Ops LLC owned about 0.14% of Fluor at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Baird Financial Group Inc. grew its holdings in Fluor by 8.5% during the 2nd quarter. Baird Financial Group Inc. now owns 298,924 shares of the construction company’s stock worth $15,661,000 after acquiring an additional 23,351 shares during the period. West Family Investments Inc. bought a new position in shares of Fluor in the 2nd quarter worth $206,000. Nykredit A S bought a new position in shares of Fluor in the 2nd quarter worth $217,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Fluor during the second quarter worth $477,000. Finally, California State Teachers Retirement System increased its holdings in Fluor by 4,306.3% in the second quarter. California State Teachers Retirement System now owns 8,232,093 shares of the construction company’s stock valued at $431,279,000 after purchasing an additional 8,045,269 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Pierre Bechelany sold 5,000 shares of the stock in a transaction that occurred 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 approximately $1,992,175.36. This represents 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 this hyperlink. 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 Performance

Shares of FLR stock opened at $53.58 on Friday. Fluor Corporation has a 12 month low of $39.33 and a 12 month high of $58.35. The company’s fifty day simple moving average is $52.15 and its 200-day simple moving average is $49.70. The firm has a market cap of $7.17 billion, a PE ratio of -4.36, a P/E/G ratio of 1.73 and a beta of 1.26. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.38.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business earned $0.43 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. Equities research analysts expect that Fluor Corporation will post 2.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group raised 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. Wall Street Zen upgraded shares of Fluor from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Truist Financial reaffirmed a “buy” rating and issued a $71.00 target price (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. Barclays increased their target price on shares of Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Finally, Weiss Ratings lowered shares of Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, August 21st. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.33.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, construction and project management company. It provides design and construction services, program management, operations and maintenance, and other professional services for complex capital projects. Fluor serves clients in areas including energy, chemicals and petrochemicals, advanced technologies, infrastructure, mining and metals, and government and defense.

The company delivers projects across the full development cycle, from front-end engineering and design through procurement, construction, commissioning and ongoing operations.