Ruffer LLP Acquires New Stake in Fluor Corporation (NYSE:FLR)

Ruffer LLP acquired a new stake in shares of Fluor Corporation (NYSE:FLR) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,577 shares of the construction company’s stock, valued at approximately $236,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in Fluor by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,515,911 shares of the construction company’s stock worth $124,087,000 after purchasing an additional 25,528 shares during the period. Northern Trust Corp increased its holdings in shares of Fluor by 12.9% during the 4th quarter. Northern Trust Corp now owns 2,391,954 shares of the construction company’s stock worth $117,971,000 after purchasing an additional 273,156 shares during the period. Alyeska Investment Group L.P. increased its holdings in shares of 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 worth $97,954,000 after purchasing an additional 1,523,647 shares during the period. Hood River Capital Management LLC boosted its position 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 valued at $96,285,000 after acquiring an additional 719,583 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Fluor by 23.1% in the fourth quarter. Invesco Ltd. now owns 1,345,503 shares of the construction company’s stock valued at $66,360,000 after buying an additional 252,690 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Stock Down 27.0%

NYSE:FLR opened at $41.46 on Monday. The firm’s 50 day simple moving average is $49.91 and its 200 day simple moving average is $42.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.62 and a quick ratio of 1.74. Fluor Corporation has a one year low of $29.20 and a one year high of $60.10. The company has a market cap of $6.83 billion, a PE ratio of 1.71, a P/E/G ratio of 2.43 and a beta of 1.43.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.16). The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.55 billion. Fluor had a return on equity of 9.27% and a net margin of 25.35%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 EPS. On average, research analysts anticipate that Fluor Corporation will post 2.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FLR. Wall Street Zen lowered shares of Fluor from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Citigroup restated a “buy” rating and set a $71.00 target price (up previously from $47.00) on shares of Fluor in a report on Monday, July 28th. UBS Group reiterated a “buy” rating and issued a $60.00 price target (up previously from $48.00) on shares of Fluor in a research note on Tuesday, June 24th. Truist Financial increased their price target on shares of Fluor from $47.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. Finally, Robert W. Baird raised their price target on shares of Fluor from $41.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $54.43.

Insider Buying and Selling at Fluor

In other news, insider Alvin C. Collins III sold 18,920 shares of Fluor stock in a transaction on Monday, June 9th. The shares were sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the sale, the insider owned 64,383 shares in the company, valued at $2,924,919.69. The trade was a 22.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman David E. Constable sold 38,600 shares of the business’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total transaction of $2,011,446.00. Following the sale, the chairman owned 792,027 shares of the company’s stock, valued at $41,272,526.97. This trade represents a 4.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,320 shares of company stock valued at $4,870,182 in the last quarter. 1.70% of the stock is currently owned by company insiders.

About Fluor

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.