Bessemer Group Inc. Acquires 115,084 Shares of Fluor Corporation $FLR

Bessemer Group Inc. lifted its stake in Fluor Corporation (NYSE:FLR) by 36.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 433,202 shares of the construction company’s stock after purchasing an additional 115,084 shares during the quarter. Bessemer Group Inc. owned about 0.27% of Fluor worth $18,225,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MTM Investment Management LLC bought a new stake in Fluor in the second quarter worth $26,000. IFP Advisors Inc purchased a new position in shares of Fluor in the 2nd quarter worth about $27,000. Hantz Financial Services Inc. boosted its stake in Fluor by 2,695.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 587 shares of the construction company’s stock worth $30,000 after purchasing an additional 566 shares in the last quarter. CoreCap Advisors LLC grew its position in Fluor by 129.5% during the 3rd quarter. CoreCap Advisors LLC now owns 723 shares of the construction company’s stock valued at $30,000 after purchasing an additional 408 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in Fluor during the 2nd quarter valued at about $33,000. Institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FLR shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Fluor in a research note on Monday, December 29th. Truist Financial boosted their price objective on shares of Fluor from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, November 10th. UBS Group cut their target price on Fluor from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. DA Davidson boosted their price target on Fluor from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Wall Street Zen raised Fluor from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.57.

Fluor Trading Up 4.6%

Shares of NYSE:FLR opened at $47.04 on Friday. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $57.50. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 2.39, a PEG ratio of 6.54 and a beta of 1.37. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.45 and a current ratio of 1.45. The stock’s 50-day simple moving average is $43.58 and its two-hundred day simple moving average is $44.25.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, November 7th. The construction company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.24. Fluor had a net margin of 21.71% and a return on equity of 8.32%. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the prior year, the business earned $0.51 EPS. The business’s quarterly revenue was down 17.7% on a year-over-year basis. Analysts expect that Fluor Corporation will post 2.5 EPS for the current year.

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.