Moore Capital Management LP Increases Stock Holdings in Fluor Corporation $FLR

Moore Capital Management LP grew its holdings in shares of Fluor Corporation (NYSE:FLR) by 220.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 520,000 shares of the construction company’s stock after purchasing an additional 357,521 shares during the period. Moore Capital Management LP’s holdings in Fluor were worth $27,243,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in shares of Fluor in the second quarter valued at approximately $25,000. Los Angeles Capital Management LLC acquired a new stake in Fluor during the 4th quarter worth approximately $27,000. Ancora Advisors LLC purchased a new position in Fluor in the 2nd quarter valued at approximately $31,000. Larson Financial Group LLC grew its stake in shares of Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after acquiring an additional 734 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Fluor in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on FLR. 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. Wall Street Zen upgraded Fluor from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Zacks Research raised Fluor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Citigroup upped their target price on shares of Fluor from $56.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Barclays raised their target price on shares of Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $63.33.

Insider Buying and Selling at Fluor

In other news, insider Pierre Edward Bechelany sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the sale, the insider owned 36,064 shares of the company’s stock, valued at approximately $1,992,175.36. This trade represents a 12.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.70% of the company’s stock.

Fluor Stock Performance

Shares of FLR stock opened at $53.35 on Monday. The company has a market cap of $7.14 billion, a P/E ratio of -4.34, a PEG ratio of 1.67 and a beta of 1.25. The firm has a fifty day moving average price of $51.59 and a 200 day moving average price of $49.25. 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 Corporation has a 12 month low of $39.33 and a 12 month high of $57.93.

Fluor (NYSE:FLR) last posted its quarterly earnings results 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. The company had revenue of $4.33 billion for 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%.Fluor’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. Sell-side analysts predict that Fluor Corporation will post 2.66 earnings per share for the current fiscal year.

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.