On February 16th, 2021, Hudson Valley Investment Advisors Inc. ADV disclosed that they have raised their position in shares of Fluor Co. by 12.3% during the fourth quarter according to their most recent disclosure with the Securities and Exchange Commission. The investment fund held a total of 78,750 shares of the construction company’s stock after acquiring an extra 8,618 shares during the quarter. This put Hudson Valley Investment Advisors Inc. ADV’s stake at around 0.06% of Fluor’s worth which is approximately $2,729,000 as per its latest SEC filing.
Fluor Corp., a holding company, offers engineering, procurement, construction, fabrication and modularization services globally. The firm also engages in operations, maintenance and asset integrity along with project management services on a worldwide basis through its subsidiaries. The company has five primary segments energy & chemicals, mining & industrial infrastructure & power, diversified services and government.
Shares of FLR traded up $0.61 during mid-day trading on Friday reaching $30.76 while 124,737 shares of the company’s stock traded hands compared to its average volume of 1,662,030 over that day period alone. In the last year alone Fluor Co.’s share price range is between $21.67 at its lowest point and $38.20 as its highest point.
The current ratio for Fluor Corp sits at 1:57 whereas for its quick ratio it remains unchanged at 1:57 continuing to remain stable throughout several years now underlining this move made by Hudson Valley Investment Advisors Inc who must have seen some potential upside value for buying into Fluor Co.
Furthermore considering fluors P/E ratio currently stands at 41:30 along with PEG Ratio at about .69 suggests that they are positioned strongly within their industry having solid fundamentals despite being affected by market turbulence similar to many others during these unprecedented times.
In conclusion, Hudson Valley Investment Advisors Inc.’s move to raise its holdings in Fluor Co indicates that the investment firm perceives further potential growth for the construction company. While other factors such as global market conditions may impact Fluor’s stock price, the company is positioned with strong fundamentals and a diverse range of services that can make them well-positioned for growth over time.
Institutional Investors Show Confidence in Fluor Corporation’s Construction Strength
Fluor Corporation: A Construction Giant with Staggering Institutional Investment
Fluor Corporation, a provider of engineering, procurement, and construction (EPC) services worldwide, has recently caught the attention of large institutional investors. As per recent filings with the SEC, Alliancebernstein L.P., Renaissance Technologies LLC, Artemis Investment Management LLP, Point72 Asset Management L.P. and BlackRock Inc. have bought significant shares in the construction company.
Alliancebernstein L.P., for example, increased its holdings by 453.8% during Q3 2016 to own 1,833,384 shares worth $45.63 million as at year-end. Renaissance Technologies purchased around $30.87 million-worth new stake in Fluor during Q1 2017; Artemis Investment Management grew its stakes by over 100% to own $45.79 million-worth Fluor’s shares in Q4 2016; while Point72 Asset management emerges with its shareholding of $35.99 million covered through acquiring additional 631,997 shares as per its Q3 SEC filings.
Furthermore, BlackRock Inc., one of the largest asset managers globally and having invested in Fluor since a long time ago has added an additional 571,316 to raise its holdings by 3.5% to now own a staggering majority of shares representing nearly 94% of the total stock held by institutional investors and hedge funds.
In addition to these high profile investments there has also been notable insider activities that might intrigue prospective buyers or professional portfolio managers seeking sound companies with healthy balance sheets and promising growth prospects for their clients.
On March 3rd this year James R Breuer who is an insider within the company sold off about $151 thousand worth (4k volume) from his personal or directed accounts indicating self-confidence in favorable market conditions going forward while making profits for himself too along side it.
Fluor had a revenue of $3.71 billion during Q4 2016, up by 2.4% YoY, but missed analysts’ expectations concerning earnings per share ($0.11 short). Despite its inconsistency in meeting earnings estimates, Fluor’s shares have been recently assigned an average price target of $35.29 mostly from “hold” ratings as pre results announcement guidance was slightly negative or neutral from the construction company for FY17 figures.
Despite any concerns and market noises on which way it is heading, Fluor Corp remains a great long-term investment opportunity given its successful project history and strong cash flow generation portraying its business sustainability among other things to be considered by a potential investor looking into securing such businesses into his or her diversified portfolio focusing on Defense contracting firms and other Industrial services providers whichever their horizon may be.