Brevan Howard Capital Management LP Sells 32,874 Shares of Fluor Corporation $FLR

Brevan Howard Capital Management LP lessened its stake in Fluor Corporation (NYSE:FLR) by 27.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,922 shares of the construction company’s stock after selling 32,874 shares during the quarter. Brevan Howard Capital Management LP owned 0.05% of Fluor worth $3,573,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLR. Farther Finance Advisors LLC boosted its stake in Fluor by 6.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,591 shares of the construction company’s stock worth $151,000 after purchasing an additional 223 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Fluor by 7.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after purchasing an additional 248 shares during the period. Brighton Jones LLC lifted its holdings in shares of Fluor by 3.1% in the third quarter. Brighton Jones LLC now owns 9,060 shares of the construction company’s stock valued at $381,000 after purchasing an additional 273 shares in the last quarter. Clearstead Advisors LLC boosted its position in shares of Fluor by 20.9% during the third quarter. Clearstead Advisors LLC now owns 1,594 shares of the construction company’s stock worth $67,000 after buying an additional 276 shares during the period. Finally, Truist Financial Corp grew its holdings in shares of Fluor by 5.7% during the third quarter. Truist Financial Corp now owns 5,361 shares of the construction company’s stock worth $226,000 after buying an additional 288 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Stock Up 1.9%

NYSE:FLR opened at $43.85 on Tuesday. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of -56.21, a price-to-earnings-growth ratio of 1.07 and a beta of 1.35. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.33. Fluor Corporation has a twelve month low of $29.20 and a twelve month high of $57.50. The stock’s 50 day moving average price is $46.72 and its two-hundred day moving average price is $44.66.

Fluor (NYSE:FLR) last released its earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share 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 during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the prior year, the business posted $0.48 earnings per share. Fluor’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts expect that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FLR shares. Citigroup boosted their target price on Fluor from $57.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, February 20th. UBS Group reiterated a “buy” rating and issued a $57.00 price objective on shares of Fluor in a report on Thursday, February 19th. 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 increased their target price on shares of Fluor from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of Fluor from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Fluor presently has a consensus rating of “Moderate Buy” and an average target price of $54.33.

Insider Buying and Selling

In related news, insider Michael E. Alexander sold 3,387 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $53.07, for a total value of $179,748.09. Following the completion of the sale, the insider directly owned 68,664 shares in the company, valued at approximately $3,643,998.48. This trade represents a 4.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anthony Morgan sold 3,387 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,442,086.91. This trade represents a 6.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 22,110 shares of company stock worth $1,168,920. Corporate insiders own 1.70% of the company’s stock.

About Fluor

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.