Incline Global Management LLC Lowers Holdings in Fluor Corporation $FLR

Incline Global Management LLC cut its holdings in Fluor Corporation (NYSE:FLR) by 9.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 317,349 shares of the construction company’s stock after selling 34,893 shares during the period. Fluor accounts for 4.3% of Incline Global Management LLC’s holdings, making the stock its 13th biggest holding. Incline Global Management LLC’s holdings in Fluor were worth $12,577,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Seelaus Asset Management LLC lifted its holdings in shares of Fluor by 2.9% in the fourth quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company’s stock worth $348,000 after buying an additional 245 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Fluor by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after buying an additional 248 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Fluor by 20.9% in the third quarter. Clearstead Advisors LLC now owns 1,594 shares of the construction company’s stock worth $67,000 after buying an additional 276 shares in the last quarter. Clear Creek Financial Management LLC lifted its holdings in shares of Fluor by 2.7% in the fourth quarter. Clear Creek Financial Management LLC now owns 11,756 shares of the construction company’s stock worth $466,000 after buying an additional 310 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Fluor by 91.7% in the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock worth $26,000 after buying an additional 311 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Trading Up 2.3%

Shares of FLR opened at $51.83 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. Fluor Corporation has a fifty-two week low of $37.62 and a fifty-two week high of $57.50. The stock has a market capitalization of $7.24 billion, a PE ratio of 30.13, a P/E/G ratio of 1.57 and a beta of 1.25. The company’s fifty day moving average is $48.11 and its 200 day moving average is $46.31.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share 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 firm 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 earned $0.73 EPS. The company’s revenue was down 8.0% on a year-over-year basis. Sell-side analysts expect that Fluor Corporation will post 2.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on FLR shares. UBS Group reissued a “buy” rating and issued a $57.00 target price on shares of Fluor in a report on Thursday, February 19th. Weiss Ratings raised shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research downgraded shares of Fluor from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Robert W. Baird boosted their target price on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Finally, DA Davidson boosted their target price on shares of Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Fluor presently has an average rating of “Moderate Buy” and a consensus price target of $53.33.

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.