157,525 Shares in Fluor Corporation $FLR Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in shares of Fluor Corporation (NYSE:FLR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 157,525 shares of the construction company’s stock, valued at approximately $8,253,000. The Manufacturers Life Insurance Company owned approximately 0.12% of Fluor at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FLR. NewEdge Advisors LLC lifted its holdings in shares of Fluor by 40.3% during the first quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock valued at $361,000 after acquiring an additional 2,896 shares during the period. Jones Financial Companies Lllp lifted its holdings in Fluor by 337.7% during the 1st quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock valued at $587,000 after purchasing an additional 12,645 shares during the last quarter. Caxton Associates LLP bought a new stake in Fluor during the first quarter worth about $266,000. Acadian Asset Management LLC bought a new position in shares of Fluor in the first quarter valued at approximately $54,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Fluor by 7.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after acquiring an additional 248 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Price Performance

Fluor stock opened at $53.35 on Monday. The business’s 50-day simple moving average is $51.59 and its 200 day simple moving average is $49.25. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of -4.34, a P/E/G 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.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the business posted $0.43 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts anticipate that Fluor Corporation will post 2.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FLR. Wall Street Zen upgraded Fluor from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Citigroup raised their target price on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings cut Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, August 21st. Zacks Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Truist Financial reissued a “buy” rating and set a $71.00 price objective (up from $64.00) on shares of Fluor in a report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.33.

Insider Buying and Selling at Fluor

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the 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 $1,992,175.36. This represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by company insiders.

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.