Y Intercept Hong Kong Ltd Sells 83,821 Shares of Fluor Corporation $FLR

Y Intercept Hong Kong Ltd cut its position in shares of Fluor Corporation (NYSE:FLR) by 65.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 43,353 shares of the construction company’s stock after selling 83,821 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Fluor were worth $2,022,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FLR. Starboard Value LP bought a new stake in Fluor during the fourth quarter valued at $205,732,000. Rubric Capital Management LP bought a new position in shares of Fluor in the 2nd quarter worth about $205,080,000. AQR Capital Management LLC lifted its stake 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 purchasing an additional 3,203,712 shares during the period. Sourcerock Group LLC acquired a new position in shares of Fluor in the 2nd quarter valued at about $85,327,000. Finally, Ameriprise Financial Inc. boosted its position in shares of Fluor by 361.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company’s stock valued at $77,289,000 after purchasing an additional 1,180,838 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

FLR has been the subject of a number of research analyst reports. Zacks Research downgraded Fluor from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Weiss Ratings upgraded Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup lowered their price objective on shares of Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Truist Financial boosted their target price on shares of Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Robert W. Baird increased their target price on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Fluor Trading Up 2.0%

Shares of Fluor stock opened at $49.56 on Thursday. The stock has a market capitalization of $6.92 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23. Fluor Corporation has a 52 week low of $37.62 and a 52 week high of $57.50. The stock has a 50 day moving average price of $49.12 and a two-hundred day moving average price of $47.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78.

Fluor (NYSE:FLR) last issued its earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the company earned $0.73 earnings per share. Fluor’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that Fluor Corporation will post 2.63 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.