TD Waterhouse Canada Inc. Sells 18,077 Shares of Fluor Corporation $FLR

TD Waterhouse Canada Inc. lowered its position in Fluor Corporation (NYSE:FLR) by 10.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,472 shares of the construction company’s stock after selling 18,077 shares during the period. TD Waterhouse Canada Inc.’s holdings in Fluor were worth $7,584,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FLR. AXQ Capital LP purchased a new position in shares of Fluor in the 2nd quarter worth approximately $1,437,000. Nykredit A S purchased a new position in Fluor in the second quarter worth $217,000. Quantitative Investment Management LLC bought a new position in Fluor in the 2nd quarter valued at $1,076,000. Moore Capital Management LP increased its position in shares of Fluor by 220.0% during the 2nd quarter. Moore Capital Management LP now owns 520,000 shares of the construction company’s stock valued at $27,243,000 after purchasing an additional 357,521 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of Fluor during the 2nd quarter worth $228,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Pierre Bechelany sold 5,000 shares of the company’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 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by insiders.

Fluor Trading Down 2.3%

NYSE:FLR opened at $56.15 on Friday. Fluor Corporation has a 1 year low of $39.33 and a 1 year high of $58.35. The stock’s fifty day moving average price is $51.84 and its two-hundred day moving average price is $49.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market cap of $7.51 billion, a P/E ratio of -4.57, a P/E/G ratio of 1.76 and a beta of 1.26.

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

Wall Street Analyst Weigh In

FLR has been the topic of several research reports. UBS Group lifted their price objective on shares of Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Truist Financial restated a “buy” rating and set a $71.00 price target (up from $64.00) on shares of Fluor 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 report on Tuesday, August 11th. Finally, Citigroup boosted 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. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $63.33.

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.