UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 51,611 Shares of Fluor Corporation $FLR

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Fluor Corporation (NYSE:FLR) by 19.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 216,057 shares of the construction company’s stock after selling 51,611 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Fluor were worth $11,319,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in 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 bought a new stake in Fluor in the second quarter valued at approximately $1,358,000. Energy Income Partners LLC acquired a new stake in Fluor in the second quarter worth $5,826,000. Pacific Heights Asset Management LLC boosted its position in shares of 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 in the last quarter. Finally, Old West Investment Management LLC acquired a new position in shares of Fluor in the 2nd quarter valued at $13,348,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Buying and Selling at Fluor

In related news, insider Pierre Bechelany sold 5,000 shares of the 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 completion of the transaction, the insider directly owned 36,064 shares in the company, valued at approximately $1,992,175.36. This trade represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Robert W. Baird upped their price objective on shares of Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Wall Street Zen raised Fluor from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings downgraded Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, August 21st. Truist Financial reaffirmed a “buy” rating and set a $71.00 price target (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Finally, Barclays lifted their price objective on 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $63.33.

Fluor Trading Down 0.0%

FLR opened at $56.15 on Monday. The stock has a market capitalization 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 Corporation has a 12 month low of $39.33 and a 12 month high of $58.35. The firm’s fifty day simple moving average is $51.84 and its 200 day simple moving average is $49.59. 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 released its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the company earned $0.43 EPS. The company’s revenue was up 8.8% on a year-over-year basis. As a group, research analysts anticipate that Fluor Corporation will post 2.66 EPS for the current fiscal year.

About Fluor

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.