PenderFund Capital Management Ltd. Makes New $2.38 Million Investment in Fluor Corporation $FLR

PenderFund Capital Management Ltd. acquired a new stake in Fluor Corporation (NYSE:FLR) in the 2nd quarter, Holdings Channel reports. The firm acquired 45,374 shares of the construction company’s stock, valued at approximately $2,377,000.

A number of other institutional investors also recently modified their holdings of the stock. Corient Private Wealth LP bought a new position in Fluor during the second quarter worth $1,180,000. Birmingham Capital Management Co. Inc. AL bought a new stake in Fluor in the second quarter valued at $221,000. Roberts Glore & Co. Inc. IL acquired a new position in shares of Fluor during the second quarter valued at about $220,000. Jupiter Topco LLC acquired a new position in shares of Fluor during the second quarter valued at about $3,139,000. Finally, Hsbc Holdings PLC bought a new position in shares of Fluor during the 2nd quarter worth about $3,218,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FLR. Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Truist Financial reissued a “buy” rating and issued a $71.00 price objective (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. UBS Group upped their target price on Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Robert W. Baird increased their target price on Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.33.

Insider Activity at Fluor

In other news, insider Pierre Edward Bechelany sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $55.24, for a total value of $276,200.00. Following the transaction, the insider owned 36,064 shares in the company, valued at $1,992,175.36. This trade represents 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 hyperlink. 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 Trading Up 4.2%

NYSE:FLR opened at $54.22 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.80. Fluor Corporation has a one year low of $39.33 and a one year high of $57.93. The company has a market cap of $7.25 billion, a PE ratio of -4.42, a PEG ratio of 1.63 and a beta of 1.25. The firm has a 50-day moving average of $51.59 and a 200-day moving average of $49.21.

Fluor (NYSE:FLR) last announced its quarterly earnings results 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 business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 EPS. As a group, equities research analysts expect that Fluor Corporation will post 2.66 EPS for the current fiscal year.

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.