Fluor Corporation $FLR Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its holdings in Fluor Corporation (NYSE:FLR) by 48.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 40,103 shares of the construction company’s stock after selling 38,241 shares during the quarter. HighTower Advisors LLC’s holdings in Fluor were worth $1,687,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. DLD Asset Management LP bought a new position in Fluor in the second quarter worth about $1,025,400,000. Rubric Capital Management LP bought a new position in shares of Fluor during the second quarter valued at approximately $205,080,000. Sourcerock Group LLC acquired a new stake in shares of Fluor during the 2nd quarter worth approximately $85,327,000. Balyasny Asset Management L.P. lifted its holdings in shares of Fluor by 90.9% in the 2nd 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 during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Fluor by 361.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company’s stock valued at $77,289,000 after purchasing an additional 1,180,838 shares during the period. Institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on FLR. Wall Street Zen upgraded Fluor from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Citigroup lifted their price objective on shares of Fluor from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, February 20th. UBS Group reissued a “buy” rating and set a $57.00 target price on shares of Fluor in a research note on Thursday, February 19th. DA Davidson raised their price target on shares of Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, Zacks Research upgraded Fluor from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Fluor currently has an average rating of “Moderate Buy” and a consensus target price of $54.33.

Insider Buying and Selling

In other Fluor news, insider Tracey H. Cook sold 2,589 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $53.22, for a total value of $137,786.58. Following the sale, the insider directly owned 10,731 shares in the company, valued at approximately $571,103.82. The trade was a 19.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark E. Fields sold 5,178 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $52.36, for a total transaction of $271,120.08. Following the completion of the sale, the insider directly owned 194,514 shares of the company’s stock, valued at $10,184,753.04. The trade was a 2.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 22,110 shares of company stock worth $1,168,920. 1.70% of the stock is owned by corporate insiders.

Fluor Stock Up 0.4%

FLR stock opened at $52.27 on Monday. The firm’s 50-day moving average is $45.63 and its two-hundred day moving average is $44.31. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of -67.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.35. Fluor Corporation has a 52 week low of $29.20 and a 52 week high of $57.50. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.33.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Tuesday, February 17th. The construction company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The company had revenue of $4.18 billion for 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%. Fluor’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. On average, analysts forecast that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

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.