Delta Global Management LP Invests $2.46 Million in Fluor Corporation $FLR

Delta Global Management LP acquired a new stake in shares of Fluor Corporation (NYSE:FLR) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 52,665 shares of the construction company’s stock, valued at approximately $2,457,000.

Other large investors have also bought and sold shares of the company. Starboard Value LP bought a new stake in Fluor in the 4th quarter worth about $205,732,000. AQR Capital Management LLC lifted its stake in Fluor by 163.1% during the 4th quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock valued at $204,795,000 after acquiring an additional 3,203,712 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Fluor by 9.1% during 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 acquiring an additional 377,985 shares during the last quarter. Rubric Capital Management LP grew its stake in shares of Fluor by 12.5% in the third 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 period. Finally, Morgan Stanley grew its stake 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 during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Price Performance

NYSE FLR opened at $52.16 on Friday. The business’s fifty day moving average is $49.69 and its 200 day moving average is $48.05. Fluor Corporation has a fifty-two week low of $37.62 and a fifty-two week high of $57.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. The company has a market capitalization of $7.28 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm posted $0.73 earnings per share. The company’s revenue was down 8.0% compared to the same quarter last year. Sell-side analysts predict that Fluor Corporation will post 2.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FLR. Citigroup decreased their target price on shares of Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Zacks Research downgraded Fluor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Truist Financial upped their price objective on Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Weiss Ratings raised Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Robert W. Baird boosted their price target on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Fluor currently has a consensus rating of “Hold” and a consensus target price of $57.20.

Fluor Company 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.