Hudson Bay Capital Management LP Has $4.13 Million Holdings in Fluor Corporation $FLR

Hudson Bay Capital Management LP boosted its position in shares of Fluor Corporation (NYSE:FLR) by 310.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,107 shares of the construction company’s stock after acquiring an additional 74,231 shares during the period. Hudson Bay Capital Management LP owned 0.06% of Fluor worth $4,127,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. CoreCap Advisors LLC increased 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 purchasing an additional 408 shares during the period. Larson Financial Group LLC boosted its stake in Fluor by 6,116.7% during the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after purchasing an additional 734 shares during the period. Banque Transatlantique SA grew its holdings in Fluor by 312.5% in 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 during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Fluor by 1,167.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,267 shares of the construction company’s stock valued at $53,000 after buying an additional 1,167 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Fluor in the 1st quarter worth approximately $54,000. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Down 6.4%

Shares of FLR opened at $44.81 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $46.83 and a two-hundred day moving average price of $44.76. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of -57.45, a P/E/G ratio of 1.12 and a beta of 1.36. Fluor Corporation has a 12 month low of $29.20 and a 12 month high of $57.50.

Fluor (NYSE:FLR) last issued its 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). The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.27 billion. Fluor had a negative net margin of 0.34% and a positive return on equity of 7.96%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 EPS. Equities analysts predict that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FLR has been the subject of several research reports. DA Davidson increased their price objective on Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. UBS Group reiterated a “buy” rating and set a $57.00 target price on shares of Fluor in a research note on Thursday, February 19th. Zacks Research raised shares of Fluor from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Wall Street Zen upgraded shares of Fluor from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Truist Financial upped their price objective on shares of Fluor from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. One 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Fluor currently has an average rating of “Moderate Buy” and an average price target of $54.33.

Insiders Place Their Bets

In other news, insider Mark E. Fields sold 5,178 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $52.36, for a total transaction of $271,120.08. Following the sale, the insider owned 194,514 shares in the company, valued at approximately $10,184,753.04. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pierre Edward Bechelany sold 4,581 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $53.10, for a total value of $243,251.10. Following the completion of the sale, the insider owned 32,748 shares of the company’s stock, valued at approximately $1,738,918.80. This trade represents a 12.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,110 shares of company stock worth $1,168,920 over the last ninety days. 1.70% of the stock is owned by insiders.

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.