Moore Capital Management LP Trims Holdings in Fluor Corporation $FLR

Moore Capital Management LP reduced its position in shares of Fluor Corporation (NYSE:FLR) by 35.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 251,280 shares of the construction company’s stock after selling 139,600 shares during the quarter. Moore Capital Management LP’s holdings in Fluor were worth $10,571,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC lifted its stake in shares of Fluor by 40.3% during the first quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock valued at $361,000 after buying an additional 2,896 shares during the period. Jones Financial Companies Lllp grew its stake in Fluor by 337.7% in the 1st quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock worth $587,000 after acquiring an additional 12,645 shares during the period. Caxton Associates LLP acquired a new position in Fluor in the 1st quarter valued at $266,000. Acadian Asset Management LLC purchased a new position in shares of Fluor during the 1st quarter worth $54,000. Finally, Allworth Financial LP boosted its holdings in shares of Fluor by 6.6% during the second quarter. Allworth Financial LP now owns 6,497 shares of the construction company’s stock worth $333,000 after purchasing an additional 402 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Price Performance

FLR stock opened at $43.85 on Tuesday. The firm has a market cap of $6.27 billion, a P/E ratio of -56.21, a price-to-earnings-growth ratio of 1.07 and a beta of 1.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 1.91. Fluor Corporation has a 1 year low of $29.20 and a 1 year high of $57.50. The stock has a 50-day simple moving average of $46.72 and a 200-day simple moving average of $44.66.

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 positive return on equity of 7.96% and a negative net margin of 0.34%.The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the firm posted $0.48 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. On average, equities analysts predict that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluor

In other news, insider Anthony Morgan sold 3,387 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $53.09, for a total value of $179,815.83. Following the completion of the transaction, the insider directly owned 45,999 shares in the company, 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 can be accessed through this link. Also, insider Mark E. Fields sold 5,178 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $52.36, for a total transaction of $271,120.08. Following the sale, the insider directly owned 194,514 shares of the company’s stock, valued at approximately $10,184,753.04. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 22,110 shares of company stock valued at $1,168,920. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FLR. DA Davidson increased their price target on shares of Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. UBS Group reissued a “buy” rating and set a $57.00 price objective on shares of Fluor in a research note on Thursday, February 19th. Wall Street Zen raised Fluor from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Zacks Research upgraded Fluor from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Finally, Robert W. Baird boosted their price target on Fluor from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average 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.