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

Brevan Howard Capital Management LP trimmed its stake in shares of Fluor Corporation (NYSE:FLR) by 27.9% in the third quarter, HoldingsChannel reports. 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’s holdings in Fluor were worth $3,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of FLR. DLD Asset Management LP bought a new position in shares of Fluor in the second quarter valued at about $1,025,400,000. Rubric Capital Management LP grew its stake in Fluor by 12.5% in the 3rd quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company’s stock valued at $189,315,000 after buying an additional 500,000 shares during the last quarter. Dimensional Fund Advisors LP grew 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 buying an additional 328,122 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Fluor by 27.4% in the 3rd quarter. Alliancebernstein L.P. now owns 3,280,423 shares of the construction company’s stock valued at $138,007,000 after acquiring an additional 704,779 shares during the period. Finally, AQR Capital Management LLC lifted its position in Fluor by 38.5% during the third quarter. AQR Capital Management LLC now owns 1,963,964 shares of the construction company’s stock worth $82,624,000 after acquiring an additional 546,182 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fluor news, insider Kevin B. Hammonds sold 2,988 shares of Fluor stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $52.61, for a total value of $157,198.68. Following the transaction, the insider owned 16,273 shares in the company, valued at $856,122.53. The trade was a 15.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tracey H. Cook sold 2,589 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $53.22, for a total value of $137,786.58. Following the transaction, the insider directly owned 10,731 shares of the company’s stock, valued at approximately $571,103.82. The trade was a 19.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,110 shares of company stock valued at $1,168,920 over the last ninety days. 1.70% of the stock is owned by insiders.

Fluor Stock Up 1.9%

Shares of FLR opened at $43.85 on Tuesday. The firm has a 50 day simple moving average of $46.72 and a two-hundred day simple moving average of $44.66. 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 one year low of $29.20 and a one year high of $57.50. The company has a market cap of $6.27 billion, a P/E ratio of -56.21, a P/E/G ratio of 1.07 and a beta of 1.35.

Fluor (NYSE:FLR) last issued its 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 business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period in the prior year, the business posted $0.48 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Research analysts forecast that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on FLR shares. Truist Financial upped their target price on Fluor from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. DA Davidson boosted their price target on Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Robert W. Baird upped their price objective on Fluor from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Citigroup increased their price objective on Fluor from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, UBS Group reissued a “buy” rating and issued a $57.00 target price on shares of Fluor 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 stock. According to data from MarketBeat, Fluor presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

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.