Vontobel Holding Ltd. Boosts Stock Position in Fluor Corporation (NYSE:FLR)

Vontobel Holding Ltd. raised its stake in shares of Fluor Corporation (NYSE:FLR) by 59.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,004 shares of the construction company’s stock after acquiring an additional 6,720 shares during the period. Vontobel Holding Ltd.’s holdings in Fluor were worth $645,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLR. Alyeska Investment Group L.P. raised its stake in Fluor by 329.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company’s stock valued at $97,954,000 after acquiring an additional 1,523,647 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Fluor by 10,125.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company’s stock worth $52,129,000 after buying an additional 1,046,610 shares in the last quarter. Hood River Capital Management LLC raised its stake in shares of Fluor by 58.4% during the 4th quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company’s stock worth $96,285,000 after buying an additional 719,583 shares in the last quarter. Yaupon Capital Management LP purchased a new position in shares of Fluor during the 4th quarter worth approximately $26,353,000. Finally, Frontier Capital Management Co. LLC purchased a new position in shares of Fluor during the 4th quarter worth approximately $25,117,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fluor news, Chairman David E. Constable sold 40,800 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total transaction of $1,999,200.00. Following the transaction, the chairman owned 870,627 shares of the company’s stock, valued at $42,660,723. This represents a 4.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $45.43, for a total value of $859,535.60. Following the transaction, the insider directly owned 64,383 shares in the company, valued at approximately $2,924,919.69. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group reissued a “buy” rating and set a $60.00 target price (up from $48.00) on shares of Fluor in a research note on Tuesday, June 24th. Citigroup cut their target price on Fluor from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Robert W. Baird set a $41.00 target price on Fluor in a research note on Monday, May 5th. Wall Street Zen downgraded Fluor from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Finally, Truist Financial upped their price target on Fluor from $47.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.86.

Fluor Stock Performance

FLR opened at $52.72 on Monday. The stock has a market cap of $8.68 billion, a P/E ratio of 5.05, a P/E/G ratio of 2.53 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.74 and a quick ratio of 1.74. The stock’s 50 day simple moving average is $43.24 and its 200 day simple moving average is $42.34. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $60.10.

Fluor (NYSE:FLR) last announced its earnings results on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.23. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.27 billion. Fluor had a return on equity of 14.59% and a net margin of 11.13%. Fluor’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, equities analysts anticipate that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Fluor Company Profile

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.