Glenview Trust Co Acquires Shares of 47,233 Fluor Corporation $FLR

Glenview Trust Co bought a new stake in Fluor Corporation (NYSE:FLR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,233 shares of the construction company’s stock, valued at approximately $2,475,000.

Other institutional investors have also made changes to their positions in the company. Starboard Value LP bought a new stake in shares of Fluor during the 4th quarter valued at $205,732,000. Rubric Capital Management LP acquired a new stake in Fluor during the second quarter worth about $205,080,000. AQR Capital Management LLC raised its position in shares of Fluor by 163.1% in 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 buying an additional 3,203,712 shares in the last quarter. Sourcerock Group LLC bought a new stake in shares of Fluor during the 2nd quarter worth approximately $85,327,000. Finally, Maverick Capital Ltd. acquired a new stake in shares of Fluor during the 1st quarter worth approximately $66,036,000. 88.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FLR has been the subject of several recent analyst reports. Robert W. Baird upped their target price on Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Truist Financial reissued a “buy” rating and set a $71.00 price target (up from $64.00) on shares of Fluor in a report on Monday, August 10th. Zacks Research raised Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. UBS Group boosted their target price on Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Barclays raised their price target on shares of Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $63.33.

Fluor Stock Performance

NYSE:FLR opened at $53.35 on Friday. The stock’s 50-day moving average is $51.59 and its 200-day moving average is $49.24. The stock has a market cap of $7.14 billion, a P/E ratio of -4.34, a price-to-earnings-growth ratio of 1.70 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 current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the firm posted $0.43 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts anticipate that Fluor Corporation will post 2.66 earnings per share for the current year.

Insider Buying and Selling at Fluor

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the business’s stock in a transaction 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through 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 corporate 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.