Aristeia Capital L.L.C. Invests $327,000 in Fluor Co. (NYSE:FLR)

Aristeia Capital L.L.C. bought a new position in shares of Fluor Co. (NYSE:FLR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,512 shares of the construction company’s stock, valued at approximately $327,000.

Other hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in Fluor in the 1st quarter valued at about $28,000. ORG Partners LLC acquired a new stake in Fluor during the second quarter worth approximately $34,000. GAMMA Investing LLC increased its stake in Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after acquiring an additional 285 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Fluor by 6,642.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after acquiring an additional 930 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Fluor during the 2nd quarter valued at $51,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Stock Performance

NYSE FLR opened at $46.30 on Wednesday. Fluor Co. has a fifty-two week low of $32.31 and a fifty-two week high of $51.64. The stock has a market cap of $7.93 billion, a PE ratio of 26.92, a PEG ratio of 1.91 and a beta of 1.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.77 and a current ratio of 1.77. The firm’s fifty day moving average price is $47.58 and its two-hundred day moving average price is $43.88.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.17. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.34 billion. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.76 earnings per share. On average, equities analysts expect that Fluor Co. will post 2.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the transaction, the chief financial officer now owns 57,834 shares of the company’s stock, valued at $2,751,163.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the transaction, the chief financial officer now directly owns 57,834 shares of the company’s stock, valued at approximately $2,751,163.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO John C. Regan sold 13,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total value of $628,030.00. Following the completion of the sale, the chief accounting officer now owns 55,965 shares in the company, valued at approximately $2,703,669.15. The disclosure for this sale can be found here. Insiders have sold 28,630 shares of company stock valued at $1,371,528 in the last ninety days. 1.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FLR. KeyCorp raised Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target for the company in a research note on Wednesday, July 17th. Citigroup boosted their target price on shares of Fluor from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Robert W. Baird increased their price target on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Truist Financial boosted their price objective on shares of Fluor from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, UBS Group raised their target price on Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.00.

Fluor Company Profile

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.