The Manufacturers Life Insurance Company Buys Shares of 157,525 Fluor Corporation $FLR

The Manufacturers Life Insurance Company bought a new position in shares of Fluor Corporation (NYSE:FLR) during the second quarter, HoldingsChannel.com reports. The firm bought 157,525 shares of the construction company’s stock, valued at approximately $8,253,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Starboard Value LP acquired a new position in Fluor during the fourth quarter valued at approximately $205,732,000. AQR Capital Management LLC boosted its position in shares of Fluor by 163.1% during the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after purchasing an additional 3,203,712 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Fluor by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company’s stock worth $178,962,000 after purchasing an additional 377,985 shares in the last quarter. Rubric Capital Management LP grew its holdings in shares of 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 period. Finally, Morgan Stanley increased its position in shares of Fluor by 0.6% in the 4th quarter. Morgan Stanley now owns 3,405,733 shares of the construction company’s stock valued at $134,969,000 after buying an additional 20,210 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms have weighed in on FLR. Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, August 21st. UBS Group lifted their price objective on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a report on Monday, August 10th. Barclays boosted their price objective on Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Finally, Robert W. Baird raised their target price on shares of Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Fluor has a consensus rating of “Hold” and a consensus target price of $63.33.

Fluor Price Performance

FLR stock opened at $53.35 on Monday. The stock has a 50-day moving average price of $51.59 and a two-hundred day moving average price of $49.25. Fluor Corporation has a 1 year low of $39.33 and a 1 year high of $57.93. The stock has a market cap of $7.14 billion, a PE ratio of -4.34, a price-to-earnings-growth ratio of 1.67 and a beta of 1.25. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38.

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