Dynamic Technology Lab Private Ltd Acquires New Position in Fluor Corporation $FLR

Dynamic Technology Lab Private Ltd acquired a new position in shares of Fluor Corporation (NYSE:FLR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 23,182 shares of the construction company’s stock, valued at approximately $975,000.

Other hedge funds also recently added to or reduced their stakes in the company. DLD Asset Management LP purchased a new stake in shares of Fluor during the 2nd quarter worth approximately $1,025,400,000. Dimensional Fund Advisors LP increased its stake in Fluor by 8.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,137,672 shares of the construction company’s stock valued at $174,077,000 after purchasing an additional 328,122 shares in the last quarter. Rubric Capital Management LP purchased a new position in Fluor in the 2nd quarter valued at approximately $205,080,000. Sourcerock Group LLC acquired a new position in Fluor during the second quarter worth $85,327,000. Finally, Balyasny Asset Management L.P. boosted its position in Fluor by 90.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,586,492 shares of the construction company’s stock worth $81,339,000 after purchasing an additional 755,337 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on FLR shares. Citigroup raised their price target on Fluor from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Truist Financial boosted their price objective on shares of Fluor from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Robert W. Baird raised their target price on shares of Fluor from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. DA Davidson lifted their target price on shares of Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Finally, Zacks Research raised shares of Fluor from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Fluor has a consensus rating of “Moderate Buy” and an average price target of $54.33.

Fluor Trading Down 2.5%

Shares of FLR stock opened at $45.03 on Monday. The firm’s 50-day simple moving average is $46.33 and its 200-day simple moving average is $44.53. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.91. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $57.50. The firm has a market cap of $6.60 billion, a P/E ratio of -57.73, a PEG ratio of 1.14 and a beta of 1.36.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Fluor had a negative net margin of 0.34% and a positive return on equity of 7.96%. The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.27 billion. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS. As a group, equities analysts forecast that Fluor Corporation will post 2.5 EPS for the current year.

Insider Transactions at Fluor

In other news, insider Michael E. Alexander sold 3,387 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $53.07, for a total value of $179,748.09. Following the transaction, the insider directly owned 68,664 shares in the company, valued at $3,643,998.48. This trade represents a 4.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark E. Fields sold 5,178 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $52.36, for a total value of $271,120.08. Following the sale, the insider owned 194,514 shares of the company’s stock, valued at $10,184,753.04. The trade was a 2.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,110 shares of company stock valued at $1,168,920 in the last ninety days. Company insiders own 1.70% of the company’s stock.

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.