Energy Income Partners LLC Buys Shares of 111,197 Fluor Corporation $FLR

Energy Income Partners LLC acquired a new stake in Fluor Corporation (NYSE:FLR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 111,197 shares of the construction company’s stock, valued at approximately $5,826,000.

Several other hedge funds also recently bought and sold shares of FLR. Global Retirement Partners LLC acquired a new stake in shares of Fluor during the second quarter worth about $25,000. Assetmark Inc. boosted its holdings in Fluor by 249.0% during the fourth quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock worth $27,000 after purchasing an additional 483 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Fluor in the 4th quarter valued at about $27,000. Larson Financial Group LLC grew its stake in Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after purchasing an additional 734 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in Fluor during the fourth quarter worth $35,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $55.24, for a total value of $276,200.00. Following the sale, the insider directly owned 36,064 shares in the company, valued at $1,992,175.36. This represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Zacks Research raised Fluor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Citigroup raised their price target on shares of Fluor from $56.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Truist Financial reaffirmed a “buy” rating and issued a $71.00 price objective (up from $64.00) on shares of Fluor in a report on Monday, August 10th. Robert W. Baird boosted their target price 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. Finally, Wall Street Zen upgraded Fluor from a “hold” rating to a “buy” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.33.

Fluor Stock Down 2.5%

Shares of NYSE FLR opened at $53.38 on Wednesday. The company has a 50 day simple moving average of $51.32 and a 200 day simple moving average of $48.90. The firm has a market cap of $7.14 billion, a PE ratio of -4.35, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25. Fluor Corporation has a 1 year low of $39.33 and a 1 year 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.

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

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.