22,526 Shares in Fluor Corporation $FLR Acquired by Corient Private Wealth LP

Corient Private Wealth LP bought a new stake in shares of Fluor Corporation (NYSE:FLR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,526 shares of the construction company’s stock, valued at approximately $1,180,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Empowered Funds LLC lifted its holdings in Fluor by 45.2% during the first quarter. Empowered Funds LLC now owns 138,342 shares of the construction company’s stock valued at $6,454,000 after purchasing an additional 43,078 shares in the last quarter. State of Wyoming purchased a new stake in Fluor in the 2nd quarter worth $1,358,000. Energy Income Partners LLC bought a new position in shares of Fluor during the 2nd quarter valued at about $5,826,000. Pacific Heights Asset Management LLC grew 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 valued at $15,852,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Old West Investment Management LLC bought a new stake in shares of Fluor in the second quarter worth about $13,348,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Stock Down 2.3%

Shares of FLR opened at $56.15 on Friday. The firm has a fifty day moving average price of $51.84 and a 200-day moving average price of $49.56. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $7.51 billion, a P/E ratio of -4.57, a P/E/G ratio of 1.80 and a beta of 1.26. Fluor Corporation has a 12-month low of $39.33 and a 12-month high of $58.35.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.70 by $0.21. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate 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 was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 EPS. Equities research analysts expect that Fluor Corporation will post 2.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup increased their price target on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. 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. Wall Street Zen upgraded shares of Fluor from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings lowered shares of Fluor from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fluor presently has an average rating of “Hold” and a consensus price target of $63.33.

Insider Transactions at Fluor

In other Fluor news, insider Pierre Bechelany sold 5,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the transaction, the insider directly owned 36,064 shares in the company, valued at $1,992,175.36. This trade represents a 12.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 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.