Alliancebernstein L.P. Increases Position in Fluor Corporation $FLR

Alliancebernstein L.P. grew its holdings in Fluor Corporation (NYSE:FLR) by 27.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,280,423 shares of the construction company’s stock after purchasing an additional 704,779 shares during the period. Alliancebernstein L.P. owned about 2.04% of Fluor worth $138,007,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FLR. MTM Investment Management LLC purchased a new position in Fluor during the second quarter valued at $26,000. CoreCap Advisors LLC raised its stake in shares of Fluor by 129.5% in the third quarter. CoreCap Advisors LLC now owns 723 shares of the construction company’s stock worth $30,000 after buying an additional 408 shares during the period. Banque Transatlantique SA lifted its position in shares of Fluor by 312.5% during the 2nd quarter. Banque Transatlantique SA now owns 825 shares of the construction company’s stock valued at $43,000 after buying an additional 625 shares in the last quarter. Westfuller Advisors LLC bought a new position in shares of Fluor during the 3rd quarter valued at approximately $55,000. Finally, Acadian Asset Management LLC purchased a new stake in Fluor in the 1st quarter worth approximately $54,000. 88.07% of the stock is currently owned by institutional investors.

Fluor Price Performance

NYSE FLR opened at $43.85 on Tuesday. The firm’s 50 day moving average price is $46.72 and its 200-day moving average price is $44.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market cap of $6.27 billion, a PE ratio of -56.21, a P/E/G ratio of 1.07 and a beta of 1.35. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $57.50.

Fluor (NYSE:FLR) last released its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts forecast that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FLR shares. Robert W. Baird increased their target price on Fluor from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Wall Street Zen raised shares of Fluor from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Zacks Research upgraded shares of Fluor from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Truist Financial upped their target price 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. Finally, Weiss Ratings cut shares of Fluor from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Fluor has an average rating of “Moderate Buy” and an average target price of $54.33.

Insiders Place Their Bets

In other news, insider Anthony Morgan sold 3,387 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $53.09, for a total value of $179,815.83. Following the transaction, the insider directly owned 45,999 shares of the company’s stock, valued at approximately $2,442,086.91. This represents a 6.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin B. Hammonds sold 2,988 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $52.61, for a total transaction of $157,198.68. Following the sale, the insider directly owned 16,273 shares in the company, valued at approximately $856,122.53. The trade was a 15.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 22,110 shares of company stock valued at $1,168,920. Corporate insiders own 1.70% of the company’s stock.

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.