Squarepoint Ops LLC Takes $9.50 Million Position in Fluor Corporation $FLR

Squarepoint Ops LLC bought a new stake in Fluor Corporation (NYSE:FLR) during the second quarter, HoldingsChannel.com reports. The fund bought 181,392 shares of the construction company’s stock, valued at approximately $9,503,000.

Other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of Fluor by 45.2% during the 1st quarter. Empowered Funds LLC now owns 138,342 shares of the construction company’s stock worth $6,454,000 after acquiring an additional 43,078 shares during the last quarter. State of Wyoming acquired a new stake in Fluor during the 2nd quarter valued at $1,358,000. Energy Income Partners LLC bought a new position in Fluor during the second quarter worth $5,826,000. Pacific Heights Asset Management LLC boosted its position in Fluor by 23.1% during the fourth quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company’s stock worth $15,852,000 after purchasing an additional 75,000 shares during the period. Finally, First National Bank of Omaha bought a new position in shares of Fluor in the second quarter valued at about $8,804,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FLR. Citigroup upped their price target on shares of Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Robert W. Baird upped their target price on Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings cut Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, August 21st. Finally, UBS Group upped their price objective on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.33.

Fluor Trading Down 2.3%

Shares of FLR stock opened at $53.58 on Friday. The stock has a 50 day simple moving average of $52.15 and a 200 day simple moving average of $49.70. Fluor Corporation has a 1 year low of $39.33 and a 1 year high of $58.35. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38. The stock has a market cap of $7.17 billion, a P/E ratio of -4.36, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26.

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, beating the consensus estimate of $0.70 by $0.21. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. On average, research analysts predict that Fluor Corporation will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Pierre Bechelany sold 5,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $55.24, for a total value of $276,200.00. Following the completion of the transaction, the insider owned 36,064 shares of the company’s stock, valued at $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by company insiders.

About Fluor

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.