Old West Investment Management LLC Takes Position in Fluor Corporation $FLR

Old West Investment Management LLC acquired a new stake in shares of Fluor Corporation (NYSE:FLR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 254,781 shares of the construction company’s stock, valued at approximately $13,348,000. Fluor accounts for approximately 1.4% of Old West Investment Management LLC’s holdings, making the stock its 27th biggest holding. Old West Investment Management LLC owned approximately 0.18% of Fluor as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new position in shares of Fluor in the 2nd quarter valued at $25,000. Assetmark Inc. lifted its stake in shares of Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock worth $27,000 after purchasing an additional 483 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Fluor during the fourth quarter valued at about $27,000. Larson Financial Group LLC grew its stake in Fluor by 6,116.7% in the third 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 last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Fluor in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on FLR shares. Robert W. Baird increased their price target on shares of Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Zacks Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Fluor in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Fluor from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Truist Financial reaffirmed a “buy” rating and set a $71.00 price target (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Fluor presently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

Fluor Price Performance

Shares of FLR stock opened at $52.46 on Monday. Fluor Corporation has a fifty-two week low of $39.33 and a fifty-two week high of $57.93. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of -4.27, a PEG ratio of 1.64 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. The stock’s 50-day simple moving average is $51.14 and its 200-day simple moving average is $48.80.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.70 by $0.21. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. Fluor’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $0.43 EPS. As a group, equities analysts forecast that Fluor Corporation will post 2.66 earnings per share for the current fiscal year.

Insider Transactions at Fluor

In other Fluor news, insider Pierre Edward Bechelany sold 5,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the completion of the transaction, the insider owned 36,064 shares of the company’s stock, valued at approximately $1,992,175.36. This trade represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.70% of the company’s stock.

Fluor Company 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.